RESTON, VA - (BUSINESS WIRE) - March 11, 2010
-- Learning Tree International (NASDAQ NGM: LTRE) announced that the
Department of Veterans Affairs (VA) has awarded Learning Tree an IDIQ
contract for delivering FAC-P/PM training to VA employees nationwide.
FAC-P/PM (Federal Acquisition Certification for Program and Project
Managers) is a government--specific project and program management
discipline that has been mandated throughout the U.S. Government by the
Office of Federal Procurement Policy.
With this contract, the
VA has taken the lead to dramatically improve the management of its
programs and projects, meet increased demands, and improve
accountability. The VA's ultimate goal is the timely development and
deployment of information systems that more effectively serve the
nation's veterans. In a competitive solicitation, the VA selected the
performance solution designed by Learning Tree to support this
endeavor. The contract includes a base year and four option years, with
a total value of up to $60 million. Learning Tree estimates revenues of
between $10 and $15 million for the contract's base year. Training
under this contract began February 22, 2010.
Don Berbary,
President of Reston, Virginia-based Learning Tree International USA,
Inc., said, "Learning Tree is pleased to be awarded this contract to
deliver our FAC-P/PM training solution which we designed and developed
to address the specific needs of the federal acquisition workforce
across the entry, journeyman and senior/expert competency levels. Our
approach was guided by a senior Federal Executive Board made up of
former government executives and experienced Learning Tree subject-
matter experts. With the award of the VA contract, Learning Tree has
further established itself as a leading training partner for the
Federal Government in its efforts to ensure compliance with the
FAC-P/PM mandate to improve accountability and performance on federal
capital investments."
Learning Tree has awarded subcontracts to
Grant Thornton of Alexandria, Virginia and Element K of Rochester, New
York for certain tasks under this contract.
For further
information and the latest FAC-P/PM public course dates and locations,
call 1-888-THE-TREE 1-888-THE-TREE (1-888-843-8733 1-888-843-8733 ) or
visit http://www.learningtree.com/info/facppm.
About Learning Tree International Learning
Tree International is a leading global provider of highly effective
training to managers and information technology professionals. Since
1974, over 65,000 organizations have relied on Learning Tree to enhance
the professional skills of more than 2 million employees. Learning Tree
develops, markets and delivers a broad, proprietary library of
instructor-led courses focused on people and project management;
leadership and business skills; Web development; operating systems;
databases; networking; IT security; and software development. Courses
are presented globally at Learning Tree Education Centers and on site
at client facilities, and are available live to remote course
participants through Learning Tree AnyWare(TM), the Company's
proprietary e-learning platform. For more information about Learning
Tree products and services, call 1-888-THE-TREE 1-888-THE-TREE
(1-888-843-8733 1-888-843-8733 ), or
visit the Learning Tree Web site
at www.learningtree.com.
You can also request an investor information packet here "
Safe Harbor Statement Except
for the historical facts, the statements in this press release are
forward-looking statements based on our beliefs about and assumptions
made by and information currently available to us about known and
unknown risks, trends, uncertainties and factors that are beyond our
control or ability to predict. Although we believe that our assumptions
are reasonable, they are not guarantees of future performance and some
will inevitably prove to be incorrect. As a result, our actual future
results can be expected to differ from our expectations, and those
differences may be material. Accordingly, investors should use caution
in relying on forward-looking statements to anticipate future results
or trends. For a discussion of some of the risks and uncertainties that
could cause actual results to differ from those contained in the
forward-looking statements, see "Risk Factors" in our Annual Report on
Form 10-K filed with the Securities and Exchange Commission.
Source: Learning Tree International