FOR IMMEDIATE RELEASE
Contact: Eileen Cassidy Rivera
VANGENT, INC. ANNOUNCES FOURTH QUARTER
AND FULL YEAR 2008 RESULTS
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.
Vangents 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 Companys
history. The Companys current new business pipeline stands at a robust $3.2 billion.
Vangents 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. Vangents 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
||$64 million contract with Mexicos Social Security agency to design, build and operate
a full biometric identity management system;