Contact Information: Company Contact: Dr. Edward H. Bersoff Chairman, President and Chief Executive Officer ATS Corporation (703) 506-0088 Investor Relations Contact: Laura Kowalcyk Investor Relations CJP Communications for ATS Corporation (212) 279-3115 ext. 209 Email Contact: Email Contact
ATS Corporation Announces Transition to New Chief Financial Officer
| Source: ATS Corporation
MCLEAN, VA -- (MARKET WIRE) -- May 22, 2007 -- ATS Corporation ("ATSC") (OTCBB : ATCT ), a
leading information technology company that delivers innovative technology
solutions to federal, state, and local government organizations, today
announced that Stuart Lloyd, Chief Financial Officer of ATSC, submitted his
resignation as CFO, effective May 31, 2007, indicating that he needed to
do so to attend to personal family matters. Mr. Lloyd's resignation is
unrelated to his work performed at ATSC. He will remain an employee of
ATSC through June 8, 2007 to assist in transition matters.
Mr. Lloyd stated that he "appreciated the opportunity to work with Ed
Bersoff, the Chief Executive Officer of ATSC, over the past year. We both
took on the challenge of taking ATSC through the regulatory process and
working to get our stockholders to vote and approve the acquisition of
Advanced Technology Systems, Inc. We were successful in doing so and to
move the company forward since the acquisition. This has been a very
intense and time consuming process and has not allowed me to attend to
certain personal family matters that I must address. I therefore am
resigning my position as Chief Financial Officer of ATSC. Once these
matters are addressed, I look forward to getting back into the business
community and observing Ed and his team guide ATSC in the direction that we
have envisioned."
Mr. Lloyd will be replaced by Pamela A. Little, who currently serves as the
ATSC Vice President of Finance. Ms. Little has over 25 years' experience
in companies ranging from privately held, start-up high technology firms to
large, publicly traded multi-national professional services and government
contracting firms. Prior to joining ATSC, Ms. Little served as the Vice
President and Chief Financial Officer at Athena Innovative Solutions, Inc.,
ZKD, Inc. and DAI.
Dr. Bersoff stated, "Obviously I am disappointed in Stuart's decision to
resign and I appreciate the efforts he put forth for us during this past
year. I wish him well in his future endeavors. With Pamela Little's
broad business experience, we are confident that she will assume her new
responsibilities quickly and effectively. She will work with Stuart in the
transition and we will continue to move forward in growing ATSC as a leader
in the IT services sector."
About ATS Corporation and Advanced Technology Systems, Inc.
ATS Corporation (formerly named Federal Services Acquisition Corporation)
operates through its subsidiaries, Advanced Technology Systems, Inc.,
Reliable Integration Services, and Appix, Inc.
Advanced Technology Systems, Inc. ("ATS") is a leading provider of systems
integration and application development, IT infrastructure management and
strategic IT consulting services to U.S. federal government agencies. Since
its founding in 1978, ATS has been recognized for its custom software
development and software integration capabilities and its deep domain
expertise in federal government financial, human resource and data
management systems. ATS has built and implemented over 100 mission-critical
systems for clients.
ATS' financial management software expertise assists clients preparing for
the government's increased financial accountability standards. ATS' data
management systems expertise allows clients to increase efficiency with
better human resource and case management tracking capabilities, while also
allowing them to organize and track information easily. Additionally, ATS'
IT outsourcing capabilities provide ATS with an opportunity to develop
long-term value added partnerships with clients that allow end-users and
government agencies to focus on core mission priorities, while reducing
expenditures on systems management.
In addition, ATSC leverages its IT services, management consulting, and
software and systems development solutions expertise into financial
institutions, insurance companies and government sponsored enterprises
through a wholly owned subsidiary, Appix, Inc. ("Appix"). Appix is one of
the largest providers of outsourced professional services at Fannie Mae and
currently serves many Fortune 500 financial services and insurance
companies. Additional information about Appix may be found at
www.appix.com.
Any statements in this press release about future expectations, plans, and
prospects for ATSC, including statements about the estimated value of the
contract and work to be performed, and other statements containing the
words "estimates," "believes," "anticipates," "plans," "expects," "will,"
and similar expressions, constitute forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995. Actual
results may differ materially from those indicated by such forward-looking
statements as a result of various important factors, including: our
dependence on our contracts with federal government agencies for the
majority of our revenue, our dependence on our GSA schedule contracts and
our position as a prime contractor on government-wide acquisition contracts
to grow our business, and other factors discussed in our latest annual
report on Form 10-K filed with the Securities and Exchange Commission on
March 26, 2007. In addition, the forward-looking statements included in
this press release represent our views as of May 21, 2007. We anticipate
that subsequent events and developments will cause our views to change.
However, while we may elect to update these forward-looking statements at
some point in the future, we specifically disclaim any obligation to do so.
These forward-looking statements should not be relied upon as representing
our views as of any date subsequent to May 21, 2007.
Additional information about ATSC and ATS may be found at www.atsva.com.