Engility Holdings, Inc. (EGL)

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CHANTILLY, Va.--(BUSINESS WIRE)--Engility Holdings, Inc. (NYSE:EGL), will release third quarter 2017 financial results after the markets close on Thursday, November 2, 2017. The company will host a conference call at 5:00 p.m. Eastern Time that day to discuss the financial results. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the company's website (www.engilitycorp.com). Participants should go to the website at least 15 minutes before the live event to download and install any necessary audio software. Listeners may also participate in the conference call by dialing (888) 655-5029 (domestic) or (503) 343-6026 (international) and entering passcode 97823682. A replay will be available on the company's website approximately two hours after the conference call and continuing for one year. A telephonic replay also will be available through November 9, 2017 at (855) 859-2056 (domestic) or (404) 537-3406 (international) and entering passcode 97823682. About Engility Engility (NYSE: EGL) is engineered to make a difference. Built on six decades of heritage, Engility is a leading provider of integrated solutions and services, supporting U.S. government customers in the defense, federal civilian, intelligence and space communities. Our innovative, highly technical solutions and engineering capabilities address diverse client missions. We draw upon our team’s intimate understanding of customer needs, deep domain expertise and technical skills to help solve our nation’s toughest challenges. Headquartered in Chantilly, Virginia, and with offices around the world, Engility’s array of specialized technical service offerings include high-performance computing, cybersecurity, enterprise modernization and systems engineering. To learn more about Engility, please visit www.engilitycorp.com and connect with us on Facebook, LinkedIn and Twitter.

CHANTILLY, Va.--(BUSINESS WIRE)--Engility Holdings, Inc. (NYSE:EGL), will release second quarter 2017 financial results before the markets open on Thursday, August 3, 2017. The company will host a conference call at 9:00 a.m. Eastern Time that day to discuss the financial results. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the company's website (www.engilitycorp.com). Participants should go to the website at least 15 minutes before the live event to download and install any necessary audio software. Listeners may also participate in the conference call by dialing (888) 655-5029 (domestic) or (503) 343-6026 (international) and entering passcode 35454929. A replay will be available on the company's website approximately two hours after the conference call and continuing for one year. A telephonic replay also will be available through August 10, 2017 at (855) 859-2056 (domestic) or (404) 537-3406 (international) and entering passcode 35454929. ABOUT ENGILITY Engility (NYSE: EGL) is engineered to make a difference. Built on six decades of heritage, Engility is a leading provider of integrated solutions and services, supporting U.S. government customers in the defense, federal civilian, intelligence and space communities. Our innovative, highly technical solutions and engineering capabilities address diverse client missions. We draw upon our team’s intimate understanding of customer needs, deep domain expertise and technical skills to help solve our nation’s toughest challenges. Headquartered in Chantilly, Virginia, and with offices around the world, Engility’s array of specialized technical service offerings include high-performance computing, cybersecurity, enterprise modernization and systems engineering. To learn more about Engility, please visit www.engilitycorp.com and connect with us on Facebook, LinkedIn and Twitter.

CHANTILLY, Va.--(BUSINESS WIRE)--Engility Holdings, Inc. (NYSE:EGL), will release first quarter 2017 financial results after market close on Thursday, May 4, 2017. The company will host a conference call at 5:00 p.m. Eastern Time the same day to discuss the financial results. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the company's website (www.engilitycorp.com). Participants should go to the website at least 15 minutes before the live event to download and install any necessary audio software. Listeners may also participate in the conference call by dialing (888) 655-5029 (domestic) or (503) 343-6026 (international) and entering pass code 1227238. A replay will be available on the company's website approximately two hours after the conference call and continuing for one year. A telephonic replay also will be available through May 11, 2017 at (855) 859-2056 (domestic) or (404) 537-3406 (international) and entering pass code 1227238. ABOUT ENGILITY Engility (NYSE: EGL) is engineered to make a difference. Built on six decades of heritage, Engility is a leading provider of integrated solutions and services, supporting U.S. government customers in the defense, federal civilian, intelligence and space communities. Our innovative, highly technical solutions and engineering capabilities address diverse client missions. We draw upon our team’s intimate understanding of customer needs, deep domain expertise and technical skills to help solve our nation’s toughest challenges. Headquartered in Chantilly, Virginia, and with offices around the world, Engility’s array of specialized technical service offerings include high-performance computing, cybersecurity, enterprise modernization and systems engineering. To learn more about Engility, please visit www.engilitycorp.com and connect with us on Facebook, LinkedIn and Twitter.

CHANTILLY, Va.--(BUSINESS WIRE)--Engility Holdings, Inc. (NYSE:EGL), will release fourth quarter and full year 2016 financial results before market open on Thursday, March 9, 2017. The company will host a conference call at 8:30 a.m. Eastern Time the same day to discuss the financial results. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the company's website (www.engilitycorp.com). Participants should go to the website at least 15 minutes before the live event to download and install any necessary audio software. Listeners may also participate in the conference call by dialing (888) 655-5029 (domestic) or (503) 343-6026 (international) and entering pass code 51865555. A replay will be available on the company's website approximately two hours after the conference call and continuing for one year. A telephonic replay also will be available through March 16, 2017 at (855) 859-2056 (domestic) or (404) 537-3406 (international) and entering pass code 51865555. ABOUT ENGILITY Engility (NYSE: EGL) is engineered to make a difference. Built on six decades of heritage, Engility is a leading provider of integrated solutions and services, supporting U.S. government customers in the defense, federal civilian, intelligence and space communities. Our innovative, highly technical solutions and engineering capabilities address diverse client missions. We draw upon our team’s intimate understanding of customer needs, deep domain expertise and technical skills to help solve our nation’s toughest challenges. Headquartered in Chantilly, Virginia, and with offices around the world, Engility’s array of specialized technical service offerings include high-performance computing, cybersecurity, enterprise modernization and systems engineering. To learn more about Engility, please visit www.engilitycorp.com and connect with us on Facebook, LinkedIn and Twitter.

CHANTILLY, Va.--(BUSINESS WIRE)--Engility Holdings, Inc. (NYSE:EGL), will release third quarter 2016 financial results before the market opens on Tuesday, November 1, 2016. The company will host a conference call at 8:30 a.m. Eastern Time the same day to discuss the financial results. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the Company's website (www.engilitycorp.com). Participants should go to the website at least 15 minutes before the live event to download and install any necessary audio software. Listeners may also participate in the conference call by dialing (888) 655-5029 (domestic) or (503) 343-6026 (international) and entering pass code 98390559. A replay will be available on the Company's website approximately two hours after the conference call and continuing for one year. A telephonic replay also will be available through November 8, 2016 at (855) 859-2056 (domestic) or (404) 537-3406 (international) and entering pass code 98390559. About Engility Engility (NYSE:EGL), a leading provider of mission-critical and highly technical services to the U.S. government, is engineered to make a difference. Built on a five-decade commitment to our customers and our country, Engility delivers world-class performance, efficiency and value in a broad range of services, including engineering and technology life cycle support, program and business support and specialized technical consulting. Headquartered in Chantilly, Virginia, and with offices around the world, Engility supports customers throughout the defense, intelligence, space, federal civilian and international communities, drawing on our intimate understanding of customer needs, our deep domain expertise and our highly skilled employees to develop and deliver on-target solutions. To learn more about Engility, please visit www.engilitycorp.com and connect with us on Facebook, LinkedIn and Twitter. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Engility’s future prospects, projected financial results, estimated integration costs and acquisition related amortization expenses, business plans, as well as the TASC transaction and its expected benefits and the timing of such benefits. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are also used to identify these forward-looking statements. These statements are based on the current beliefs and expectations of Engility’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause Engility’s actual results to differ materially from those described in the forward-looking statements can be found under the heading "Risk Factors" included in our Annual Report on Form 10-K for the year ended December 31, 2015, and more recent documents that have been filed with the Securities and Exchange Commission (SEC) and are available on the investor relations section of Engility’s website (http://www.engilitycorp.com) and on the SEC’s website (www.sec.gov). Forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, historical information should not be considered as an indicator of future performance.

CHANTILLY, Va.--(BUSINESS WIRE)--Engility Holdings, Inc. (NYSE:EGL) today announced its intent to refinance its first and second lien term loan facilities and expand its revolving credit facility, subject to market and other conditions. The objectives of the refinancing and credit facility expansion are to reduce the Company’s interest expense, increase its financial flexibility and extend its weighted average debt maturity. If consummated, the Company anticipates it will continue to have approximately $1.1 billion in net debt. The terms of the potential refinancing will be disclosed upon the completion of the transaction, which is anticipated to occur in early August 2016. In connection with the anticipated refinancing, the Company also intends to provide to potential lenders and investors the following preliminary financial results for the second quarter ended July 1, 2016: Total revenue of approximately $535 million; Adjusted EBITDA of approximately $48 million; Book-to-bill ratio of approximately 1.2x based on net bookings; Total backlog of approximately $3.0 billion; and Submitted bids awaiting adjudication of approximately $5.0 billion. The Company notes that revenue from the second quarter benefited from approximately $5 million of supplemental program work completed during the quarter. The Company also made voluntary debt prepayments of $20 million during the second quarter of 2016. Voluntary debt prepayments for the first six months of 2016 totaled $30 million. The above estimates for the second quarter of 2016 are derived from preliminary internal financial reports and are subject to revision based on the completion of the quarter-end accounting and financial reporting process. Engility will report its complete results for the second quarter on August 1, 2016, including a reconciliation of net income to adjusted EBITDA. There can be no assurance that the Company will be able to consummate the refinancing transactions on favorable terms or at all. The Company is providing this information given the initiation of this debt refinancing process. Conference Call Information Engility will host a conference call at 8:30 a.m. Eastern Time on August 1, 2016, to discuss the final financial results for its second quarter 2016. Listeners may access a webcast of the live conference call from the Investor Relations section of the company's website at http://www.EngilityCorp.com. Listeners also may access a slide presentation on the website, which will summarize the Company’s 2016 second quarter results and its fiscal year 2016 guidance. Listeners should go to the website at least 15 minutes before the live event to download and install any necessary audio software. Listeners also may participate in the conference call by dialing (888) 655-5029 (domestic) or (503) 343-6026 (international) and entering pass code 50457672. A replay will be available on the Company's website approximately two hours after the conference call and continuing for one year. A telephonic replay also will be available through August 8, 2016 at (855) 859-2056 (domestic) or (404) 537-3406 (international) and entering pass code 50457672. About Engility Engility (NYSE:EGL), a leading provider of mission-critical and highly technical services to the U.S. government, is engineered to make a difference. Built on a five-decade commitment to our customers and our country, Engility delivers world-class performance, efficiency and value in a broad range of services, including engineering and technology life cycle support, program and business support and specialized technical consulting. Headquartered in Chantilly, Virginia, and with offices around the world, Engility supports customers throughout the defense, intelligence, space, federal civilian and international communities, drawing on our intimate understanding of customer needs, our deep domain expertise and our highly skilled employees to develop and deliver on-target solutions. To learn more about Engility, please visit www.engilitycorp.com and connect with us on Facebook, LinkedIn and Twitter. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the anticipated refinancing and Engility’s future prospects, projected financial results and business plans. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are also used to identify these forward-looking statements. These statements are based on the current beliefs and expectations of Engility’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause Engility’s actual results to differ materially from those described in the forward-looking statements can be found under the heading "Risk Factors" included in our Annual Report on Form 10-K for the year ended December 31, 2015, and more recent documents that have been filed with the Securities and Exchange Commission (SEC) and are available on the investor relations section of Engility’s website (http://www.engilitycorp.com) and on the SEC’s website (www.sec.gov), and include, among other things, the following: (i) our substantial level of indebtedness; (ii) our ability to refinance our debt obligations; (iii) general economic and business conditions in the United States and abroad; and (iv) competitive trends and pressures. Forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, historical information should not be considered as an indicator of future performance.

CHANTILLY, Va.--(BUSINESS WIRE)--Engility Holdings, Inc. (NYSE: EGL) will release first quarter 2016 financial results after market close on Thursday, May 5, 2016. The Company will host a conference call at 5 p.m. Eastern Time the same day to discuss the financial results. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the Company's website (www.engilitycorp.com). Participants should go to the website at least 15 minutes before the live event to download and install any necessary audio software. Listeners may also participate in the conference call by dialing (888) 655-5029 (domestic) or (503) 343-6026 (international) and entering pass code 87633538. A replay will be available on the Company's website approximately two hours after the conference call and continuing for one year. A telephonic replay also will be available through May 12, 2016 at (855) 859-2056 (domestic) or (404) 537-3406 (international) and entering pass code 87633538. ABOUT ENGILITY Engility (NYSE: EGL) is engineered to make a difference. Built on five decades of heritage, Engility is a leading provider of integrated solutions and services for the U.S. government, supporting customers throughout defense, intelligence, space, federal civilian and international communities. Engility delivers world-class performance, efficiency and best value in a broad range of services from global security to information security, and international development to research and development. Headquartered in Chantilly, Virginia, and with offices around the world, Engility draws upon its intimate understanding of customer needs, deep domain expertise, and skilled team to develop and deliver on-target solutions for critical missions. To learn more about Engility, please visit www.engilitycorp.com and connect with us on Facebook, LinkedIn and Twitter.

CHANTILLY, Va.--(BUSINESS WIRE)--Engility Holdings, Inc. (NYSE: EGL) will release fourth quarter and full year 2015 financial results before market open on Thursday, March 3, 2016. The Company will host a conference call at 8 a.m. Eastern Time the same day to discuss the financial results. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the Company's website (www.engilitycorp.com). Participants should go to the website at least 15 minutes before the live event to download and install any necessary audio software. Listeners may also participate in the conference call by dialing (866) 300-6036 (domestic) or (412) 455-6216 (international) and entering pass code 36531392. A replay will be available on the Company's website approximately two hours after the conference call and continuing for one year. A telephonic replay also will be available through March 10, 2016 at (855) 859-2056 (domestic) or (404) 537-3406 (international) and entering pass code 36531392. ABOUT ENGILITY Engility is a pure-play government services provider that delivers highly skilled personnel wherever, whenever they are needed in a cost-efficient manner. The Company proudly serves customers that span the federal services market including the Department of Defense, the Intelligence community, Space and Federal Civilian agencies. Headquartered in Chantilly, Virginia, Engility is a leading provider of specialized technical consulting, program and business support services, engineering and technology lifecycle support, information technology, modernization and sustainment, supply chain services and logistics management, and training and education for the U.S. Government. To learn more about Engility, please visit www.engilitycorp.com.

CHANTILLY, Va.--(BUSINESS WIRE)--Engility Holdings, Inc. (NYSE: EGL) will issue its fiscal year 2016 guidance, as well as provide commentary on fiscal year 2015 before market open on Thursday, January 21, 2016. The Company will host a conference call at 8:00 a.m. Eastern Time the same day to discuss these items. This event follows the recent approval by the Board of Directors of the Company’s 2016 plan and is being scheduled prior to its participation in several upcoming investor events. Listeners may access a webcast of the live conference call from the Investor Relations section of the Company's website at http://www.EngilityCorp.com. Listeners also may access a slide presentation on the website which will summarize Engility’s fiscal year 2016 guidance and commentary on fiscal year 2015. Listeners should go to the website at least 15 minutes before the live event to download and install any necessary audio software. Listeners may also participate in the conference call by dialing (866) 300-6036 (domestic) or (412) 455-6216 (international) and entering pass code 19154562. A replay will be available on the company's website approximately two hours after the conference call and continuing for one year. A telephonic replay also will be available through January 28, 2016 at (855) 859-2056 (domestic) or (404) 537-3406 (international) and entering pass code 19154562. ABOUT ENGILITY Engility is a pure-play government services provider that delivers highly skilled personnel wherever, whenever they are needed in a cost-efficient manner. The company proudly serves customers that span the federal services market including the Department of Defense, the Intelligence community, Space and Federal Civilian agencies. Headquartered in Chantilly, Virginia, Engility is a leading provider of specialized technical consulting, program and business support services, engineering and technology lifecycle support, information technology, modernization and sustainment, supply chain services and logistics management, and training and education for the U.S. Government. To learn more about Engility, please visit www.engilitycorp.com.

CHANTILLY, Va.--(BUSINESS WIRE)--Engility Holdings, Inc. (NYSE: EGL) today announced financial results for the third quarter ended September 30, 2015. Third Quarter 2015 Results For the third quarter of 2015, the Company reported total revenue of $570 million. GAAP operating income was $34 million and GAAP operating margin was 6.0%. GAAP net income attributable to Engility was $4 million, or $0.10 per diluted share. Cash flow from operating activities was $91 million, which reflects a tax refund of $19 million. Adjusted operating income was $52 million and adjusted operating margin was 9.1%. Adjusted net income attributable to Engility was $23 million, or $0.61 per diluted share. Adjusted EBITDA was $59 million and adjusted EBITDA margin was 10.3%. Engility's adjusted results for net income, operating margin and EBITDA exclude $5 million of acquisition and integration costs, and $2 million in legal and settlement costs. Adjusted operating margin and adjusted net income also exclude $11 million of amortization of intangible asset expenses associated with the TASC and DRC acquisitions. Adjusted net income also includes a cash tax benefit of $3 million as a result of Engility’s third quarter 2015 $19 million cash tax refund. Information about the Company's use of non-GAAP financial information is provided below under "Non-GAAP Measures." “Third quarter cash flow from operations was strong as we achieved record low DSOs and realized a tax benefit resulting from our TASC acquisition," said Tony Smeraglinolo, President and CEO of Engility. “While our third quarter revenue and profitability results were impacted by contract award and start delays, we continue to expect to be within our 2015 full-year guidance ranges given the ramp-up of recent contract wins and ongoing profit initiatives. We are raising our 2015 cash flow guidance to reflect the success of our systems and process integration efforts and the tax refund we received in the third quarter. We remain encouraged by our future growth prospects given our position in the market, the significant amount of submitted proposals we have awaiting adjudication and our business model, which combines our technical expertise and cost efficiencies.” Key Performance Indicators for the Third Quarter of 2015 Book-to-bill ratio was 1.0x on contract awards of $565 million. Book-to-bill ratio was 0.8x on funded orders of $465 million; funded backlog was $804 million. Days sales outstanding (DSO), net of advanced payments, was 55 days. Decreased outstanding debt by $35 million. Significant Third Quarter 2015 Awards Awarded a $74 million contract by the U.S. Agency for International Development (USAID) to implement the Growth, Enterprise, Employment and Livelihood (GEEL) project in Somalia. GEEL will expand small-and-medium-sized enterprise access to investment opportunities, increase the availability of key business services, and support improved business policy and regulation. This project, which represents new work for Engility, also will stimulate private investment in high growth industries such as agriculture, fisheries and renewable energy, and will boost employment potential for youth and women in regions previously inaccessible due to security concerns. Awarded a $49 million contract to provide and support advanced technical communications systems for the U.S. Northern Command (USNORTHCOM), serving the Department of Defense, civil first responders, homeland defense operations and disaster relief activities. Under this follow-on contract win, Engility will provide full system lifecycle support, including capability design, solutions development, engineering, systems modifications, technical refresh, training and repair. Awarded a contract with a potential value of $35 million to provide technical and administrative support to the Latin America and Caribbean Regional Office of USAID’s Office of Foreign Disaster Assistance (OFDA). Under this recompete contract, in the event of emergencies, such as natural disasters, Engility teams will deploy to disaster sites, perform damage assessments, and provide guidance on disaster response efforts to host country governments and local stakeholders. When not responding to a disaster, Engility provides year-round technical assistance for disaster preparedness and mitigation activities in the region, overseeing instruction in disaster management concepts, training methodologies and related technical disciplines. Awarded a $31 million contract extension to help enhance the effectiveness of psychological health (PH) and Traumatic Brain Injury (TBI) programs that provide care to service members, veterans and their families. This contract was awarded by the U.S. Army Medical Research Acquisition Activity for the Defense Centers of Excellence for PH and TBI. Awarded a $14 million contract to provide technical, policy and program management support for the Army's Product Director Automated Movement and Identification Solutions (PD AMIS) program. PD AMIS, a part of the Army's Program Executive Office (PEO) Enterprise Information Systems (EIS), controls all aspects of Automated Identification Technology (AIT), which allows the Army to track assets and manage key elements of logistics, including the procurement, expertise, training, customer support and the introduction of new technologies into all logistical operations. All U.S. Army organizations and several other Department of Defense organizations procure AIT products and services through PD AMIS. Awarded a prime position on a $900 million indefinite delivery/indefinite quantity (IDIQ) contract to provide professional and technical services supporting medical product research and development (MPRD) for the U.S. Army and other Department of Defense entities. The MPRD program provides a mechanism for all aspects of medical product research and development and life cycle support to sustain our nation's warfighters. This contract, which represents new work, was awarded by the U.S. Army Medical Research and Material Command. Fiscal Year 2015 Guidance We are updating the fiscal year 2015 financial guidance we issued on August 6, 2015 based on our financial results for the first nine months of 2015 and our outlook for the remainder of the year. We are increasing our fiscal year 2015 operating cash flow guidance and narrowing the guidance ranges for revenue, GAAP diluted EPS, adjusted diluted EPS and adjusted EBITDA. The table below summarizes our fiscal year 2015 guidance and includes approximately 10 months of TASC's expected financial results since the acquisition closed on February 26, 2015. (1) 2015 GAAP and adjusted diluted EPS guidance assumes weighted average outstanding shares of approximately 34 million. GAAP diluted EPS assumes a 2015 full year tax benefit of approximately $12 million to $14 million. Adjusted diluted EPS assumes 2015 net cash tax payments of approximately $1 million. Our adjusted diluted EPS and adjusted EBITDA guidance excludes approximately $70 million to $75 million of amortization of acquired intangible assets, and deal and integration costs associated with the TASC and DRC acquisitions. Non-GAAP Measures The tables under "Engility Holdings, Inc. Reconciliation of Non-GAAP Measures" present Adjusted Operating Income, Adjusted Operating Margin, Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA), Adjusted EBITDA, EBITDA Margin, Adjusted EBITDA Margin, Adjusted Income before Income Tax, Adjusted Net Income, and Adjusted Diluted EPS, reconciled to their most directly comparable GAAP measure. These financial measures are calculated and presented on the basis of methodologies other than in accordance with U.S. generally accepted accounting principles ("Non-GAAP Measures"). Engility has provided these Non-GAAP Measures to adjust for, among other things, the impact of transaction and integration costs and amortization expenses related to our acquisitions of TASC and DRC, as well as restructuring and legal and settlement costs. These items have been adjusted because they are not considered core to the Company’s business or otherwise not considered operational or because these charges are non-cash or non-recurring. The Company presents these Non-GAAP Measures because management believes that they are meaningful to understanding Engility’s performance during the periods presented and the Company’s ongoing business. Non-GAAP Measures are not prepared in accordance with GAAP and therefore are not necessarily comparable to similarly titled metrics or the financial results of other companies. These Non-GAAP Measures should be considered a supplement to, not a substitute for, or superior to, the corresponding financial measures calculated in accordance with GAAP. CONFERENCE CALL INFORMATION Engility will host a conference call at 8 A.M. ET on November 5, 2015, to discuss the financial results for our third quarter 2015. Listeners may access a webcast of the live conference call from the Investor Relations section of the Company's website at http://www.EngilityCorp.com. Listeners also may access a slide presentation on the website which summarizes our 2015 third quarter results and our fiscal year 2015 guidance. Listeners should go to the website at least 15 minutes before the live event to download and install any necessary audio software. Listeners also may participate in the conference call by dialing (866) 300-6036 (domestic) or (412) 455-6216 (international) and entering pass code 58341254. A replay will be available on the Company's website approximately two hours after the conference call and continuing for one year. A telephonic replay also will be available through November 12, 2015 at (855) 859-2056 (domestic) or (404) 537-3406 (international) and entering pass code 58341254. ABOUT ENGILITY Engility is a pure-play government services provider that delivers highly skilled personnel wherever, whenever they are needed in a cost-efficient manner. The Company proudly serves customers that span the federal services market including the Department of Defense, the Intelligence community, Space and Federal Civilian agencies. Headquartered in Chantilly, Virginia, Engility is a leading provider of specialized technical consulting, program and business support services, engineering and technology lifecycle support, information technology, modernization and sustainment, supply chain services and logistics management, and training and education for the U.S. Government. To learn more about Engility, please visit www.engilitycorp.com. FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Engility’s future prospects, projected financial results, estimated integration costs and acquisition related amortization expenses, business plans, as well as the TASC transaction and its expected benefits and the timing of such benefits. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are also used to identify these forward-looking statements. These statements are based on the current beliefs and expectations of Engility’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause Engility’s actual results to differ materially from those described in the forward-looking statements can be found under the heading "Risk Factors" included in our Annual Report on Form 10-K for the year ended December 31, 2014, and more recent documents that have been filed with the Securities and Exchange Commission (SEC) and are available on the investor relations section of Engility’s website (http://www.engilitycorp.com) and on the SEC’s website (www.sec.gov). Forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, historical information should not be considered as an indicator of future performance. September 30,2015 September 30,2014 September 30,2015 September 30,2014 Total costs and expenses ENGILITY HOLDINGS, INC. RECONCILIATION OF NON-GAAP MEASURES Adjusted Operating Income and Adjusted Operating Margin (dollars in thousands)

CHANTILLY, Va.--(BUSINESS WIRE)--Engility Holdings, Inc. (NYSE: EGL) will release fourth quarter and full year 2014 financial results after market close on Tuesday, March 3, 2015. The Company will host a conference call at 5 p.m. Eastern Time the same day to discuss the financial results. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the company's website (www.engilitycorp.com). Participants should go to the website at least 15 minutes before the live event to download and install any necessary audio software. Listeners may also participate in the conference call by dialing (877) 474-9503 (domestic) or (857) 244-7556 (international) and entering pass code 69731195. A replay will be available on the company's website approximately two hours after the conference call and continuing for one year. A telephonic replay also will be available through March 10, 2015 at (888) 286-8010 (domestic) or (617) 801-6888 (international) and entering pass code 78273585. ABOUT ENGILITY Engility is a pure-play government services contractor providing highly skilled personnel wherever, whenever they are needed in a cost-effective manner. Headquartered in Chantilly, Virginia, Engility is a leading provider of specialized technical consulting, program and business support services, engineering and technology lifecycle support, information technology modernization and sustainment, supply chain services and logistics management, and training and education for the U.S. Government. To learn more about Engility, please visit www.engilitycorp.com.

CHANTILLY, Va.--(BUSINESS WIRE)--Engility Holdings, Inc. (NYSE: EGL) and TASC, Inc. today announced that they have entered into a definitive agreement under which Engility will acquire privately-held TASC, a leading professional services provider to the national security and public safety markets, in an all-stock transaction valued at approximately $1.1 billion, including the assumption of net debt. This transaction will build on the strengths of each company to create a leading government services provider with expected combined pro-forma revenue of approximately $2.5 billion in 2014. The transaction was approved by the Boards of Directors of both companies and is expected to close in the first quarter of 2015. “The combination of our two complementary businesses is transformational and represents a unique opportunity to create a top-tier government services company,” said Tony Smeraglinolo, Engility President and Chief Executive Officer. “Since our successful spin-off and through our recent acquisition of DRC, which created substantial benefits for our stockholders, we have built a strong track record of developing and executing integration strategies that drive meaningful top- and bottom-line synergies. We expect this transaction to extend our track record and accelerate our growth strategy, which is focused on further diversifying our customer base, adding substantial scale to our business, broadening our capabilities and increasing our addressable market. Following the completion of the transaction, we expect our stockholders to benefit from an enhanced adjusted earnings growth rate, a significantly increased free cash flow and a lower effective cash tax rate.” Founded in 1966, TASC is a leading provider of enterprise systems engineering, mission-enabling architectures and value-based solutions for the national security and public safety markets. TASC has a substantial presence in the Intelligence Community, Space and other markets in which Engility is underrepresented. TASC, which is controlled by affiliates of Kohlberg Kravis Roberts & Co. L.P. and General Atlantic LLC (which form the “TASC Investors”), has approximately 4,000 employees, is a prime contractor on approximately 85% of its work and is expected to generate approximately $1.1 billion in revenue and approximately $90 million in adjusted EBITDA in calendar year 2014. The purchase price represents a multiple of 7.9x on TASC’s estimated 2014 EBITDA, after adjusting for the net present value of its tax assets. The transaction combines two highly complementary businesses to form an entity with the scale and diversity of offerings to secure a leading position in the government services industry. TASC’s well-recognized technical capabilities complement Engility’s low-cost differentiation and will allow the combined company to deliver affordable high-quality services to its expanded customer base. On a pro-forma basis, following the close of the transaction, the combined company is expected to generate approximately $2.5 billion in revenue and approximately $210 million in combined adjusted EBITDA in 2014, excluding cost savings. “TASC has a long history of providing the insight and innovation federal customers rely on to address their most complex, mission-critical national security challenges. Together with Engility, we will offer customers an even more comprehensive suite of high-quality offerings to meet their evolving mission and affordability requirements,” said John Hynes, President and Chief Executive Officer of TASC. “Our employees’ dedication and hard work made TASC the outstanding company it is today. I look forward to working with Tony and the Engility management team on a smooth integration that allows us to expand our value to customers’ missions of national importance.” Mr. Smeraglinolo continued, “TASC has an outstanding reputation and longstanding relationships with its customers, particularly in the Intelligence Community, and we intend to continue to go to market leveraging its record of success. I look forward to welcoming TASC’s impressive group of talented employees to Engility and to building upon the momentum our respective current employees have worked so hard to create.” Under the terms of the agreement, the company will maintain the Engility Holdings, Inc. name and continue to be traded on the New York Stock Exchange under the ticker symbol “EGL.” Given the strong heritage of both companies in their respective markets, following closing, the combined company will continue to serve customers under both the Engility and TASC brands. Engility stockholders of record as of the date prior to the closing of the transaction will receive a special cash dividend of approximately $11.40 per share for each Engility share they own, subject to final adjustments depending on Engility's diluted share count at time of closing. TASC stockholders will receive approximately 18.9 million shares of Engility Holdings, representing an approximately 51% ownership stake in the combined company on a pro-forma, fully-diluted basis. The transaction is valued at approximately $1.1 billion, including the assumption of approximately $613 million in net debt and the net present value of TASC’s tax assets. Effective as of the closing, Engility will enter into a Stockholders Agreement with the TASC Investors. As part of the Stockholders Agreement, the board will expand from seven to 11 members, with the TASC Investors entitled to nominate, and holding sufficient votes to elect, the additional four members. The Stockholders Agreement also includes provisions that place certain limitations on the transfer and voting of the Engility shares held by the TASC Investors. Strategic and Financial Benefits of Transaction Diversified and Balanced Portfolio: With an expected $2.5 billion diversified and balanced portfolio across the government services industry, the combined company will have a significantly broader services offering. Upon completion of the transaction, the combined company will have a leading position in the Intelligence Community and high-end technical consulting markets. In addition, Engility’s overall concentration in the Defense market will be reduced from approximately 64% to approximately 48%; approximately 28% of its business will be with Intelligence customers and 24% of its business will be with Federal Civilian agency customers. Expands Customer Base, Capabilities and Addressable Market: TASC will bring more than 850 contracts and task orders to the combined company that have minimal overlap with Engility’s current contract vehicles and customers. These additions will expand and diversify Engility’s customer footprint across the government services industry. TASC enhances Engility’s existing broad services offerings by adding capabilities in intelligence analysis, space systems architecture analysis, cyber forensics and cybersecurity, ISR operations, geospatial intelligence, data analytics, enterprise transformation, test and evaluation, secure cloud computing and mobile applications. After the transaction closes, in addition to the Intelligence Community, the combined company will have a meaningful presence and longstanding relationships with an attractive and expanded customer set, including the Air Force, National Aeronautics and Space Administration (NASA), and the Defense Information Systems Agency (DISA), among others. The transaction will also enhance the combined company’s position with the Department of Homeland Security (DHS), Defense Threat Reduction Agency (DTRA), Federal Aviation Administration (FAA), Missile Defense Agency (MDA) and Naval Sea Systems Command (NAVSEA). Engility expects this transaction to substantially expand its addressable market opportunity in government services. Enhanced Value for Customers: The size and scale of the combined company will enable it to provide even greater value to its customers by providing a broader range of services to meet their needs. With a collective workforce of approximately 11,000 highly-skilled employees and a shared commitment to providing exceptional services, the combined company will be even better equipped to serve its customers. In addition, the combined company expects its customers to realize future savings on work under cost plus contracts given the savings that it expects to realize as it distributes infrastructure costs over a larger revenue base. Significant Cost Savings Opportunities: The combination of Engility and TASC is expected to generate approximately $35 million in cost synergies by year end 2016, with a portion of these synergies achieved during 2015. The combined company expects to achieve approximately $50 million in run rate cost synergies by 2018. Engility and TASC expect to achieve these savings by implementing best practices throughout the combined company’s operations and eliminating duplicative costs. Enhanced Free Cash Flow: Once the transaction closes, the combined company will benefit from TASC’s approximately $1.4 billion of tax attributes, including net operating losses (“NOLs”), with a net present value of approximately $370 million. These tax assets will significantly reduce the combined company’s net cash tax expense through 2024, positioning it to generate substantial free cash flow and rapidly de-lever. Increased Profitability: Following the completion of the transaction, Engility is expected to have a strong financial profile with a solid balance sheet. The combined company is expected to improve its operating margins relative to standalone forecasts and the transaction is expected to be significantly accretive to 2016 earnings per share, after adjusting for, among other things, amortization of acquired intangibles and cash taxes. Management and Board Composition The combined company’s senior leadership team will comprise executives from both Engility and TASC. Tony Smeraglinolo will be the combined company’s President and Chief Executive Officer, and John Hynes, current President and Chief Executive Officer of TASC, will become Chief Operating Officer of the combined entity. Edward P. Boykin, chairman of Engility, and Peter A. Marino, currently chairman of TASC, will become non-executive co-chairs of the combined company. As discussed above, following the completion of the transaction, Engility’s Board of Directors is expected to be expanded to 11 members from seven members, which will include four nominees from the TASC Investors, one of whom will be Mr. Marino. Under the terms of the Stockholders Agreement, the public stockholders of Engility will continue to elect a majority of the combined company’s Board members. Financing and Approvals The transaction, which has been approved by the Boards of Directors of Engility and TASC, is expected to close in the first quarter of 2015. The transaction is subject to approval of the stockholders of both Engility and TASC, consummation of the contemplated financing, regulatory approvals including clearance under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, and other customary closing conditions. Pursuant to a voting agreement, the TASC Investors have already agreed to vote in favor of and adopt the merger agreement. Engility will be assuming TASC’s debt and raising approximately $585 million in incremental debt to fund the refinancing of its existing debt and the special cash dividend. This will result in a net debt to 2014 adjusted EBITDA of approximately 4.7x, based on calculations under the Company’s bank covenants. Due to the strong free cash flow of the combined entity, Engility expects that it will reduce its net debt to trailing 12-month adjusted EBITDA to approximately 2.5x by the end of 2017. Engility has received financing commitments from Barclays and Jefferies Finance LLC in connection with the funding of the transaction. Advisors Barclays is serving as financial advisor to Engility and providing a fairness opinion, and Weil, Gotshal & Manges LLP and Bass, Berry & Sims PLC are serving as legal advisors. Lazard is serving as financial advisor and providing a fairness opinion to the Engility Board of Directors. Simpson Thacher & Bartlett LLP is serving as legal advisors to TASC. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor for General Atlantic. Jefferies Finance LLC is serving as financial advisor to TASC and Renaissance Strategic Advisors is serving as a strategic advisor to TASC. Conference Call and Webcast Engility and TASC executives will host a conference call at 5:00 PM ET today, October 28, 2014, to discuss the details of this announcement. The conference call can be accessed by dialing (877) 703-6109 (U.S. dial-in) or (857) 244-7308 (international dial-in) and the passcode is 70379558. A replay of the call will be available on Engility’s website approximately two hours after the conference call and continuing for one year. A telephonic replay also will be available through November 28, 2014 at (888) 286-8010 (domestic) or (617) 801-6888 (international) and entering pass code 33672993. The webcast and presentation accompanying the conference call will be available on Engility’s website (http://www.engilitycorp.com/) prior to the start of the call. About Engility Engility is a pure-play government services contractor providing highly skilled personnel wherever, whenever they are needed in a cost-effective manner. Headquartered in Chantilly, Virginia, Engility is a leading provider of specialized technical consulting, program and business support services, engineering and technology lifecycle support, information technology modernization and sustainment, supply chain services and logistics management, and training and education for the U.S. Government. To learn more about Engility, please visit www.engilitycorp.com. About TASC Founded in 1966, TASC is a trusted partner to intelligence, defense and civilian agency customers. TASC provides mission-critical enterprise systems engineering, mission-enabling architectures and value-based solutions for the national security and public safety markets. Drawing upon extensive domain knowledge, subject-matter expertise and technical resources, TASC delivers the strategic and tactical insight needed to help customers meet their most complex national security challenges. To learn more about TASC, visit www.TASC.com. FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Engility’s future prospects, projected financial results, estimated integration costs and acquisition related amortization expenses, business plans and the benefits of the business combination transaction involving Engility and TASC, including future financial and operating results, the combined company’s plans, objectives, expectations and intentions and other statements that are not historical facts. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are also used to identify these forward-looking statements. These statements are based on the current beliefs and expectations of Engility’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Forward-looking statements are made only as of the date hereof, and neither Engility nor TASC undertakes any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, historical information should not be considered as an indicator of future performance. In addition to factors previously disclosed in Engility’s reports filed with the Securities and Exchange Commission (“SEC”), the following factors among others, could cause actual results to differ materially from forward-looking statements: ability to obtain regulatory approvals and meet other closing conditions to the merger, including approval by Engility and TASC shareholders and obtaining the requisite financing, on the expected terms and schedule; other delay in closing the merger; difficulties and delays in integrating the Engility and TASC businesses or fully realizing cost savings and other benefits; business disruption following the proposed transaction; credit and financing risk; the inability to sustain revenue and earnings growth; the increased leverage and interest expense of the combined company, changes in interest rates and capital markets; inflation; customer borrowing, repayment, investment and deposit practices; customer disintermediation; the introduction, withdrawal, success and timing of business initiatives; competitive conditions; the inability to realize cost savings or revenues or to implement integration plans and other consequences associated with mergers, acquisitions and divestitures; economic conditions; changes in Engility’s stock price before closing, including as a result of the financial performance of TASC prior to closing; the reaction to the transaction of the companies’ customers, employees and counterparties; and the impact, extent and timing of technological changes, capital management activities, and legislative and regulatory actions and reforms. ADDITIONAL INFORMATION FOR STOCKHOLDERS In connection with the proposed merger, Engility Holdings (“Engility”) will file with the SEC a Registration Statement on Form S-4 that will include a joint proxy/consent solicitation statement of Engility and TASC Parent Corporation (“TASC”) and a prospectus of Engility, as well as other relevant documents concerning the proposed transaction. Engility will mail the definitive joint proxy/consent solicitation statement/prospectus to the Engility and TASC stockholders. STOCKHOLDERS OF ENGILITY AND TASC ARE URGED TO READ THE REGISTRATION STATEMENT AND JOINT PROXY/CONSENT SOLICITATION STATEMENT/PROSPECTUS REGARDING THE PROPOSED MERGER WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain a free copy of the joint proxy/consent solicitation statement/prospectus (when available) and other filings containing information about Engility at the SEC’s website at www.sec.gov. The joint proxy/consent solicitation statement/prospectus (when available) and the other filings may also be obtained free of charge at Engility’s website at www.Engilitycorp.com under the tab “Investor Relations,” and then under the heading “SEC Filings.” Engility, TASC and certain of their respective directors and executive officers, under the SEC’s rules, may be deemed to be participants in the solicitation of proxies of Engility stockholders in connection with the proposed merger. Information about the directors and executive officers of Engility and their ownership of Engility common stock is set forth in the proxy statement for Engility’s 2014 annual meeting of shareholders, as filed with the SEC on Schedule 14A on April 11, 2014. Additional information regarding the interests of those participants and other persons who may be deemed participants in the transaction may be obtained by reading the joint proxy/consent solicitation statement/prospectus regarding the proposed merger when it becomes available. Free copies of this document may be obtained as described in the preceding paragraphs. NO OFFERS OR SOLICITATIONS This announcement is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

CHANTILLY, Va.--(BUSINESS WIRE)--Engility Holdings, Inc. (NYSE: EGL) will release third quarter 2014 financial results after market close on Thursday, November 6, 2014. The Company will host a conference call at 5 p.m. Eastern Time the same day to discuss the financial results. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the company's website (www.engilitycorp.com). Participants should go to the website at least 15 minutes before the live event to download and install any necessary audio software. Listeners may also participate in the conference call by dialing (877) 415-3177 (domestic) or (857) 244-7320 (international) and entering pass code 92086942. A replay will be available on the company's website approximately two hours after the conference call and continuing for one year. A telephonic replay also will be available through November 13, 2014 at (888) 286-8010 (domestic) or (617) 801-6888 (international) and entering pass code 96292622. ABOUT ENGILITY CORPORATION Engility is a pure-play government services contractor providing highly skilled personnel wherever, whenever they are needed in a cost-effective manner. Headquartered in Chantilly, Virginia, Engility is a leading provider of specialized technical consulting, program and business support services, engineering and technology lifecycle support, information technology modernization and sustainment, supply chain services and logistics management, and training and education for the U.S. Government. To learn more about Engility, please visit www.engilitycorp.com.