Press Release: Perspecta announces financial -2-
All statements and assumptions in this press release that do not directly and exclusively relate to historical facts could be deemed "forward-looking statements." Forward-looking statements are often identified by the use of words such as "anticipates," "believes," "estimates," "expects," "may," "could," "should," "forecast," "goal," "intends," "objective," "plans," "projects," "strategy," "target" and "will" and similar words and terms or variations of such. These statements represent current intentions, expectations, beliefs or projections, and no assurance can be given that the results described in such statements will be achieved. Forward-looking statements include, among other things, statements with respect to the expected timing of the closing of the merger with Peraton and our financial condition, results of operations, cash flows, business strategies, prospects, guidance, share repurchases, dividend payments, contract value, revenue acceleration, profitability and revenue generation. Such statements are subject to numerous assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many of which are outside of our control. Important factors that could cause actual results to differ materially from those described in forward-looking statements include, but are not limited to, (i) potential disruptions to our business caused by the proposed acquisition of us by Peraton, a portfolio company of Veritas Capital Fund Management, L.L.C.; (ii) failure to complete the merger with Peraton in a timely manner or at all; (iii) various risks related to health epidemics, pandemics and similar outbreaks, such as the COVID-19 pandemic, which may have material adverse effects on our business, financial position, results of operations and/or cash flows; (iv) any issue that compromises our relationships with the U.S. federal government, or any state or local governments, or damages our professional reputation; (v) changes in the U.S. federal, state and local governments' spending and mission priorities that shift expenditures away from agencies or programs that we support; (vi) any delay in completion of the U.S. federal government's budget process; (vii) failure to comply with numerous laws, regulations and rules, including regarding procurement, anti-bribery and organizational conflicts of interest; (viii) failure by us or our employees to obtain and maintain necessary security clearances or certifications; (ix) our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors' protests of major contract awards received by us; (x) our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; (xi) problems or delays in the development, delivery and transition of new products and services or the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; (xii) failure of third parties to deliver on commitments under contracts with us; (xiii) misconduct or other improper activities from our employees or subcontractors; (xiv) delays, terminations, or cancellations of our major contract awards, including as a result of our competitors protesting such awards; (xv) failure of our internal control over financial reporting to detect fraud or other issues; (xvi) failure or disruptions to our systems, due to cyber-attack, service interruptions or other security threats; (xvii) failure to be awarded task orders under our indefinite delivery/indefinite quantity contracts; (xviii) changes in government procurement, contract or other practices or the adoption by the government of new laws, rules and regulations in a manner adverse to us; and (xix) uncertainty from the expected discontinuance of the London Interbank Offered Rate and transition to any other interest rate benchmark; as well as the matters described in the "Cautionary Statement Regarding Forward-Looking Statements" and "Risk Factors" sections of Perspecta's Annual Report on Form 10-K for the fiscal year ended March 31, 2020, as may be updated or supplemented in our Quarterly Reports on Form 10-Q and our other filings with the Securities and Exchange Commission, which discuss these and other factors that could adversely affect our results. Readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events except as required by law.
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February 05, 2021 17:05 ET (22:05 GMT)