Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Brian Kinstlinger – Sidoti & Co.
Brian Kinstlinger – Sidoti & Co.
Maybe you can update us a little bit. We thought there would be some RFP's that came out at the end of December and its turnaround time would be quick. Maybe you could expand on that and tell us how that played out.
Philip Nolan
We did too, and at this point it still looks like its moving to the right. We really just do not have really clear visibility when these things are going out the door unfortunately. As you know, and everybody listening knows, we've been talking about this for several quarters and we know the work is there. We know the Legacy contracts have expired and have been extended, and we're waiting for them to come out the door.
Brian Kinstlinger – Sidoti & Co.
That's the RFP that came out under the award for awhile, the turn around timing?
Philip Nolan
No, the RFP's haven't even come out.
Brian Kinstlinger – Sidoti & Co.
The difference between the bookings and the announcements that you put in the press release, is that just generally factoring those into your backlog?
Brian Clark
If you add up all the numbers in the press release it's a little bit more than the bookings number.
Philip Nolan
Because some of those awards in there, it's not exactly. Some of the awards in there are kind of what we know the value of it is, but we didn't take it as a booking because we didn't get the full paperwork for it. For example, I think the press release has a number in there for $112 million in Biometric support. As an example, we only took $12 million of that in our bookings number. That's consistent with what we've done with our IT contracts and that sort of thing, that we do not give ourselves credit for that until we get paper.
Brian Kinstlinger – Sidoti & Co.
And that comes when? Later on when there's a renewal in the contract, or once you start it up?
Philip Nolan
In that particular case, that's a subcontract, so that comes as a prime contract. That gives us additional paper.
Brian Kinstlinger – Sidoti & Co.
It seems if I read that list, most of it is new business other than two of the smaller deals out there, so is that accurate? The $254 predominantly most of it is new business?
- To read the full transcript on Seeking Alpha, click here »
