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New Contracts Expected to Add Over $15 Million in Revenue
ATLANTA, July 21, 2020 (GLOBE NEWSWIRE) -- DLH Holdings Corp. (NASDAQ: DLHC) (“DLH” or the “Company”), a leading provider of innovative healthcare research, services and solutions to federal agencies, today announced that it has recently been awarded multiple task orders and contracts related to COVID-19 testing and analysis that are expected to add at least $15 million of incremental revenue, with the majority anticipated in calendar 2020. The task orders encompass the evaluation of various treatment alternatives and the impact of COVID-19 on other chronic conditions, as well as the development of health communication tools to exchange emerging data among numerous scientific stakeholders. These efforts are being performed for the U.S. Department of Health and Human Services.
“DLH has supported the National Institutes of Health and the Centers for Disease Control and Prevention for decades in the fight against infectious diseases, and we are proud to continue in the current effort addressing COVID-19,” said DLH President and Chief Executive Officer Zach Parker. “As the National Institute for Allergy and Infectious Diseases continues to lead the national response to finding vaccines and therapeutics to combat this novel coronavirus pandemic, DLH will draw on its contract research organization (CRO) expertise, leveraging clinical research services to establish a platform to rapidly evaluate multiple therapeutic products. Through these recent awards, we will leverage our epidemiological and clinical trials expertise and manage a consortium of partners to secure the necessary patients and conduct clinical trials to achieve success in the battle against this pandemic.”
DLH (NASDAQ: DLHC) serves federal government clients throughout the United States and abroad delivering technology enabled solutions in key health and human services programs. The Company's core competencies include secure data analytics, clinical trials and laboratory services, case management, performance evaluation, system modernization, operational logistics and readiness, and strategic digital communications. DLH has over 1,950 employees serving numerous government agencies. For more information, visit the corporate website at
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or DLH`s future financial performance. Any statements that refer to expectations, projections or other characterizations of future events or circumstances or that are not statements of historical fact (including without limitation statements to the effect that the Company or its management “believes”, “expects”, “anticipates”, “plans”, “intends” and similar expressions) should be considered forward looking statements that involve risks and uncertainties which could cause actual events or DLH’s actual results to differ materially from those indicated by the forward-looking statements. Forward-looking statements in this release include, among others, statements regarding estimates of future revenues. These statements reflect our belief and assumptions as to future events that may not prove to be accurate. Our actual results may differ materially from such forward-looking statements made in this release due to a variety of factors, including: the outbreak of the novel coronavirus (“COVID-19”), including the measures to reduce its spread, and its impact on the economy and demand for our services, are uncertain, cannot be predicted, and may precipitate or exacerbate other risks and uncertainties; the risk that we will not realize the anticipated benefits of an acquisition; the challenges of managing larger and more widespread operations resulting from the acquisition; contract awards in connection with re-competes for present business and/or competition for new business; compliance with new bank financial and other covenants; changes in client budgetary priorities; government contract procurement (such as bid protest, small business set asides, loss of work due to organizational conflicts of interest, etc.) and termination risks; the ability to successfully integrate the operations of future acquisitions; and other risks described in our SEC filings. For a discussion of such risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s periodic reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended September 30, 2019, as well as subsequent reports filed thereafter. The forward-looking statements contained herein are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our industry and business. Such forward-looking statements are made as of the date hereof and may become outdated over time. The Company does not assume any responsibility for updating forward-looking statements, except as may be required by law.
Contact: Chris Witty