Exhibit 99.1
Contact: Eileen Cassidy Rivera
—Full Year 2008 Revenue Up 9.5% over 2007—
Arlington, VA, March 10, 2009 — Vangent, Inc., a leading global provider of information management and strategic business process outsourcing services, today announced its fourth quarter and full year 2008 results.
Vangent reported revenue of $558.3 million for the full year ended December 31, 2008, up $48.2 million or 9.5% compared to $510.1 million at year end 2007. For the fourth quarter ended December 31, 2008 revenue grew $9.9 million, or 6.7% to $157.5 million, compared with $147.6 million in the fourth quarter of 2007. Increased revenue primarily reflects growth in the Government Group, which for the full year increased 12.6% or $50.6 million over 2007.
Vangent’s net loss was $26.5 million for the year ended December 31, 2008 compared to a net loss of $22.4 million for the comparable period a year ago. The increase of $4.1 million in the net loss for 2008 reflects the goodwill impairment charge of $16.8 million for 2008 related to the Human Capital and International segments. Adjusted EBITDA increased 2.5% to $73 million for the full year 2008, compared with $71.2 million at year end 2007. On a quarterly basis, Adjusted EBITDA was $20.8 million compared with $24.3 million in the fourth quarter of 2007.
“Despite an unprecedented challenging economic environment, 2008 was a successful year for Vangent,” said Mac Curtis, President and Chief Executive Officer of Vangent. “We continued to execute our strategic plan and delivered solid revenue growth. As we look ahead, we believe we are well positioned for continued success in 2009, especially as we identify and capitalize on significant opportunities with the new Administration, and as we continue to build on our successes in healthcare, education and international businesses.”
Contract Awards, Backlog & Operational Highlights
Vangent booked $253.4 million of new business in the fourth quarter. For the full year ended December 31, 2008, Vangent booked $545 million in new awards – the highest in the Company’s history. The Company’s current new business pipeline stands at a robust $3.2 billion.
Vangent’s total contract backlog, which is the amount of revenue the company expects to realize over the remaining term of the contracts, including the base period and all option years, was $1.7 billion at December 31, 2008. Vangent’s funded backlog, which is the portion for which funding has been authorized, was $522.8 million at the end of 2008.
During the fourth quarter, Vangent completed its most successful open enrollment period with the Centers for Medicare & Medicaid Services (“CMS”) customer. In addition, Vangent won several key contracts:
    $64 million contract with Mexico’s Social Security agency to design, build and operate a full biometric identity management system;



The following information was filed by Vangent, Inc. (VANG) on Tuesday, March 10, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Vangent, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Vangent, Inc..


Never Miss A New SEC Filing Again

Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.


We Highlighted This SEC Filing For You

SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.


Widen Your SEC Filing Reading Experience

Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view


Uncover Actionable Information Inside SEC Filings

SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q


Adobe PDF, Microsoft Word and Excel Downloads

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis


FREE Financial Statements

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator

Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not


Financial Stability Report

Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity


Get a Better Picture of a Company's Performance

Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years


Log in with your credentials


Forgot your details?

Create Account