ManTech International
Annual Report 2009

Plain-text annual report

ManTech International Corporation 2009 Annual Report www.mantech.com To our shareholders We are delighted to report that 2009 was another extremely successful year for ManTech. We passed $2 billion in annual revenues, delivered excellent growth in earnings and profi tability, strengthened our balance sheet, and laid the foundation to build a larger, stronger and more integrated ManTech. That foundation begins with the skills and dedication of our 8,900 employees working on missions vital to the national interest and security. Well positioned for growth As we look ahead, our nation faces many challenges, and ManTech stands ready to help. The recent Quadrennial Defense Review laid out a national security strategy, and President Obama has demonstrated his commitment to that strategy through his government fi scal year 2011 budget submission. These actions validate our business strategy to focus on the high- end defense and intelligence markets and make us extremely well-positioned for growth. We have established expertise and deep skills in growth areas of the market: cyber security; intelligence, surveillance and reconnaissance (ISR); logistics and sustainment services for the warfi ghter; counter-terrorism and protection of the homeland; and sophisticated support to the Intelligence Community. Unlike our larger competitors, we can serve our customers with advisory services free of organizational confl icts of interest (OCI) from performing production work, and we are aggressively pursuing new business opportunities in this area. Solid growth and one of the best balance sheets in our industry Our 2009 revenue was $2.02 billion, an 8 percent increase compared to 2008. At ManTech, we are proud to serve our customers wherever they need us, and our growth was driven by our in-theater logistics support as well as our cyber security business. Our net income for 2009 was $112 million, up 24 percent compared to $90 million in 2008. Diluted earnings per share were $3.11 in 2009, versus $2.55 for 2008, a 22 percent increase. We improved an already stellar balance sheet and cash fl ow levels. Cash fl ow from operating activities for 2009 was $132 million, or 1.2 times net income. This excellent conversion ratio was the result of our effi cient collections process and discipline around cash George J. Pedersen Chairman of the Board and CEO Lawrence B. Prior, III President and COO management. We closed out the year with $86 million in cash and equivalents and no debt, which puts us in great position to aggressively pursue strategic, accretive acquisitions. Since our last report, we acquired two companies that expand our reach with new and existing customers. In March 2009 we purchased DDK Technology Group, Inc., a provider of cyber security services to the Department of Defense, with a particular focus on the Naval Criminal Investigative Service. In January 2010, we acquired Sensor Technologies Inc. (STI) for $242 million in cash. STI was a leading provider of mission-critical systems engineering and ISR solutions to the U.S. Army. As part of ManTech, STI will continue its strong growth path and provide a key prime contract position that enables us to provide even more mission-critical ISR support to our Army customer at a more competitive price. A renewed focus on top-line growth, talent management and program execution Led by experienced additions to our management team, we increased our focus on three key areas: top-line growth, talent management and program execution. This renewed focus is an important step as ManTech International Corporation Annual Report 2009 we prepare for higher levels of growth. To support our ascent we realigned our operating units around three groups under the leadership of proven industry executives – Technical Services led by Lou Addeo, Systems Engineering and Advanced Technology led by Terry Ryan, and Mission, Cyber and Technology Solutions led by Bill Varner. We augmented that group with industry-experienced senior corporate leaders in business development, talent management and strategy and communications. Our contract awards seed our top-line growth, and in 2009 they totaled $1.95 billion. More than 70 percent of that total represented new business awards, which positions us to achieve our guidance of at least 12 percent organic growth in 2010. Importantly, our awards were spread across the enterprise and set the stage for balanced growth. We have built the foundation for that growth by increasing our headcount from about 8,000 at the end of the third quarter in 2009 to almost 9,000 today. Our Technical Services Group received a $355 million award from the U.S. Army to support mine-resistant ambush- protected vehicles in Southwest Asia and a $286 million contract from the Army Electronic Proving Ground in Fort Huachuca, AZ, to provide engineering and technical support for Command, Control, Communications, Computers and Intelligence (C4I) testing. The Systems Engineering and Advanced Technology Group won a $99 million contract from the Department of Homeland Security (DHS) Secure Border Initiative program offi ce for systems engineering and technical support. This momentum has continued into the start of fi scal year 2010 with two large, classifi ed, systems engineering contracts. In our Mission, Cyber and Technology Solutions Group we received a $135 million award from DHS to support critical infrastructure protection and a $76 million contract to support the information technology infrastructure for the National Media Exploitation Center, which provides strategic document and media exploitation support to the Intelligence Community, law enforcement and the Department of Defense. We also received signifi cant new funding on our largest cyber security contract for a classifi ed customer. We mourned the loss of one of our employees ManTech employee Kenneth Rose was killed in Afghanistan while on a mission to repair a damaged vehicle. We will be forever grateful for his sacrifi ce. Kenneth exemplifi ed the courage and dedication of the more than 1,400 ManTech employees working outside the U.S., many of whom put their lives at risk every day to protect our nation. We think of them always and hope for their continued safety. A legacy of success and a future fi lled with promise For 42 years we have successfully provided advanced technology for our country’s mission-critical national security programs – this has been our hallmark and will continue to be our focus. Along with our mission success, we are a leader in our peer group in fi nancial performance and growth. Since going public in 2002 our revenues and earnings per share have grown on a compound annual basis of 22 and 20 percent, respectively. Our balance sheet and credit rating are as strong as ever allowing us to invest in organic growth and strategic acquisitions. These elements, combined with our fortifi ed management team, give us high confi dence in our ability to grow to a $3 billion to $5 billion enterprise and continue to provide industry-leading value to our shareholders. George J. Pedersen Chairman of the Board and CEO Lawrence B. Prior, III President and COO 1 Financial Results 2 0 % C A G R 2,020 1,871 1,448 1,137 980 827 2 1 % C A G R 179 153 114 84 91 68 1 9 % C A G R 3.11 2.55 1.60 1.64 1.29 1.95 2004 2005 2007 2006 REVENUE (in millions) 2008 2009 2004 2005 2006 2007 2008 2009 2004 2005 2006 2007 2008 2009 OPERATING INCOME (in millions) EPS Revenues Operating income Income from continuing operations Diluted earnings per share Cash and cash equivalents Accounts receivable Working capital Total assets Total debt Total stockholders’ equity RESULTS FROM CONTINUING OPERATIONS (in thousands, except EPS) 2005 $980,289 $84,178 $53,203 $1.60 $5,678 $239,676 $103,576 $555,985 $42,523 $378,582 2006 2007 2008 2009 $1,137,178 $1,448,098 $1,870,879 $2,020,334 $90,650 $55,596 $1.64 BALANCE SHEET SUMMARY $41,510 $236,445 $168,189 $613,252 $0 $459,016 $113,704 $67,327 $1.95 $8,048 $337,467 $68,409 $937,503 $165,000 $551,305 $153,358 $90,292 $2.55 $4,375 $407,248 $140,744 $179,079 $111,764 $3.11 $86,190 $399,239 $276,087 $1,021,712 $1,100,747 $44,100 $680,536 $0 $817,465 Stock Performance Chart The following stock performance graph compares ManTech common stock to the Nasdaq Stock Market (U.S.) Index, Standard & Poor’s MidCap 400 Index, the Russell 2000 Index and our Peer Group Index.* The period measured is December 31, 2004 to December 31, 2009. The graph assumes an investment of $100 for each of the groups with reinvestment of all dividends. ManTech has never declared a cash dividend. Comparison of 5-Year Cumulative Total Returns as of December 31, 2009 $250 $200 $150 $100 $50 $0 $203.70 $117.49 $108.83 $102.59 $83.39 12/31/04 12/31/05 12/31/06 12/31/07 12/31/08 12/31/09 ManTech NASDAQ Composite S&P Midcap 400 Index Russell 2000 Index Peer Group 2 * Peer group consists of: CACI International Inc.; Dynamics Research Corporation; DynCorp International Inc.; NCI, Inc.; SAIC; SRA International, Inc. and Stanley, Inc. Who we are ManTech International Corporation Annual Report 2009 ManTech International Corporation is made up of 8,900 highly skilled and mission- focused employees supporting national security in nearly 40 countries. They are our key diff erentiator. Their knowledge and devotion to duty has helped us to become a leading provider of innovative technologies and solutions for mission-critical national security programs for the Intelligence Community; the departments of Defense, State, Homeland Security and Justice; the Space Community; National Oceanic and Atmospheric Administration; and other U.S. federal government customers. Our people go anywhere, anytime to support our customers’ critical national security missions. Our solutions and services include: • system engineering and integration • enterprise architecture (design, review and implementation) • cyber security/information assurance (security architecture, computer forensics, intrusion detection, penetration testing and cyber threat analysis) • intelligence operations and analysis support • network and critical infrastructure protection • information operations and information warfare support • information technology • communication integration • global logistics and supply chain management • service oriented architecture. 3 What we do for our customers Technical Services We provide maintenance and sustainment, supply chain management, and infrastructure support for communications; intelligence, surveillance and reconnaissance (ISR); and other systems. Our services and solutions include: Global and Domestic Mission-Critical Logistics Support ManTech employees provide logistics, repair and maintenance services, unique system training, resource management and inventory tracking technologies for complex, critical and specialized customer systems in deployed, isolated and remote locations worldwide. We support Route Clearance Vehicles Systems and Area Clearance Systems in Southwest Asia that help protect our troops. ManTech has supported the Army’s Route Clearance and Countermine/Counter Improvised Explosive Device (IED) systems since 2003, and the mine-resistant ambush-protected (MRAP) variants since 2008. Communication Systems and Infrastructure Support We design, procure, install, operate, sustain, test and secure communication systems and network infrastructures. For example, ManTech supports the U.S. Army Communications-Electronics Command (CECOM) Regional Support Centers (RSCs), which provide integrated equipment maintenance, logistical and systems engineering support, limited depot support and back-up direct support to Army, Air Force and Marine Corps units within the U.S. and overseas. Together, ManTech and STI provide a wide-range of ISR integration sustainment and logistics services on key programs such as the Distributed Common Ground System – Army and Tactical Biometric Systems. Global Information Technology Modernization We provide secure information technology systems life cycle management to government customers by modernizing more than 600 classifi ed and unclassifi ed networks and systems in more than 370 locations around the world. The backbone of our global capabilities is a comprehensive ISO 9001:2000-certifi ed management and control system designed to improve integration and lower the total cost of ownership across systems life cycles. Global Property Management For the U.S. Army’s Global Property Management Support Services, we provide equipment accountability, readiness management, automated visibility and reporting via Army and company information systems in the Central and Western United States, Hawaii and Alaska. 4 ManTech International Corporation Annual Report 2009 ManTech has supported every major military deployment since Desert Shield/ Desert Storm including activities in Haiti (Operation Unifi ed Support and Restore Hope), the Balkans, Kuwait, East Timor, Iraq and Afghanistan. P h o t o c o u r t e s y o f t h e D e p a r t m e n t o f D e f e n s e Elevated Sensors ManTech employees support 1,104 elevated sensor systems worldwide, including the Base Expeditionary Targeting and Surveillance Systems – Combined (BETTS-C). BETTS-C is a combination of surveillance systems that signifi cantly improves situational awareness and the force protection posture of operating bases in Iraq and Afghanistan. ManTech’s forward maintenance support for BETTS-C includes system fi elding and over-the-shoulder operator training to unit commanders and warfi ghters throughout Iraq and Afghanistan. Other elevated sensors supported by ManTech include the: • Medium Range Thermal Imager, used in conjunction with rapid deployed sensors to provide enhanced night surveillance • Aerostat surveillance system, which provides long-range surveillance • Cerberus trailer mobile system, a mobilized trailer surveillance system • Force Protection Suite, a base security system • Rapid Deployment Integrated Surveillance System, used at security stations and combat outposts • Ground-Based Operational Surveillance System, an integrated sensor system providing “beyond-the-fence” surveillance capability. ManTech’s sustainment concept has proven to be a cost-eff ective approach that has yielded a 90 percent or better operational readiness rating. 5 What we do for our customers Systems Engineering and Advanced Technology We support all systems acquisition life cycle requirements with systems engineering and technology assessments for the Department of Defense, Department of Homeland Security (DHS) and other federal organizations. Our services and solutions include: Systems Engineering Services Systems engineering is an interdisciplinary approach and means for enabling the deployment of successful systems and managing their complexity. Our scientists and engineers provide systems engineering services that consider technical and business requirements to deliver quality products that have met warfi ghters’ needs since 1968. We support the entire systems life cycle from requirements defi nition and analysis through design and development and test and evaluation and operational deployment. Our commitment to the systems engineering discipline is exemplifi ed by our Capability Maturity Model® Integration Level 3 rating for Software and Systems Engineering. For example, we perform comprehensive system engineering services to analyze, develop and integrate solutions for U.S. Navy hardware and software requirements across subsurface, surface, ground, air and space domains. Recent large wins at DHS and an Intelligence Community customer position ManTech as a preeminent provider of systems engineering services. Modeling and Simulation, Testing and Evaluation We test complex and mission-critical hardware and software systems used by the Army, Air Force, Navy and NASA, with many of these customer relationships spanning more than three decades. We have played key roles in improving the performance, reliability, maintainability, supportability and weapons eff ectiveness of all Navy in-service rotary and fi xed-wing platforms and their associated ordnance. Independent Validation and Verifi cation (IV&V) We perform tests to certify that new or upgraded systems operate in accordance with their design requirements. For example, we have performed certifi cation services for aircraft weapon systems in support of U.S. Naval Air Systems Command programs. We also provide IV&V as a prime contractor on the DHS Enterprise Acquisition Gateway for Leading Edge Solutions. 6 ManTech International Corporation Annual Report 2009 ManTech’s commitment to the systems engineering discipline is exemplifi ed by our Capability Maturity Model® Integration Level 3 rating for Software and Systems Engineering. Domestic Nuclear Detection Offi ce (DNDO) ManTech employees provide system analysis, modeling and testing of technologies and systems to identify and detect nuclear and radiological sources attempting entry into the U.S. for DHS’s DNDO. Our services include technology assessments, sensor modeling, situational awareness and test preparation and planning. The DNDO is a jointly staff ed offi ce established in 2005 to improve the nation’s capability to detect and report unauthorized attempts to import, possess, store, develop, or transport nuclear or radiological material for use against the U.S. 7 What we do for our customers Mission and Cyber Support We off er high-end technology services that include cyber, network security engineering, services oriented architectures for mission IT systems, data interoperability, and intelligence analysis and operations planning. Our services and solutions include: Cyber, Computer Network Operations and Information Assurance Cyber attacks on our nation’s IT infrastructure threaten our economy and national security. To help combat that threat, we provide a wide range of services including incident response, digital vulnerability assessments, specialized network architecture support and intrusion operations. For example, we develop and staff a national-level computer forensic laboratory and provide a broad spectrum of subject matter expertise. Secure Information Sharing and Collaboration The ability to share information across non-traditional boundaries in a trusted fashion has become critically important for national security. We were selected as one of two companies to lead the development of a next-generation analytic sharing and collaboration program for the Offi ce of the Director of National Intelligence through a contract with the Defense Intelligence Agency. Enterprise Systems Engineering We provide network architecture planning, implementation and systems engineering services in support of enterprise-wide network infrastructures that include LAN/WAN architectures, messaging architectures, network management solutions, directory services architecture and web hosting. For example, we developed and implemented a scalable enterprise-wide network and messaging infrastructure in support of an Intelligence Community customer. Service Oriented Architectures ManTech off ers Service Oriented Architecture (SOA) solutions to the federal government, and we have implemented numerous large-scale SOA/data sharing programs. For example, we led the design and implementation of the Department of Defense Intelligence Information Systems (DoDIIS) service oriented architecture and services-based capabilities for the Defense Intelligence Agency. Intelligence Operations and Analysis Support We provide services for strategic and tactical intelligence systems, networks and facilities for the Intelligence Community and Department of Defense. To support classifi ed systems and facilities that collect, analyze, process and report on intelligence sources, we develop and integrate collection and analysis systems and techniques. 8 ManTech International Corporation Annual Report 2009 ManTech was selected as one of two companies to lead the development of a next-generation analytic sharing and collaboration program for the Offi ce of the Director of National Intelligence through a contract with the Defense Intelligence Agency. Secrecy Management and Program Security Architecture ManTech employees provide secrecy management and security infrastructure services for highly classifi ed programs, including intelligence operations and military programs. For the Joint Strike Fighter program, which has the most complex security challenges of any weapon system in our nation’s history, we provide integrated security support including physical, personnel and cyber security disciplines, and in-depth support to international disclosure controls. Cyber Security We provide comprehensive cyber warfare and cyber defense solutions and services to the Department of Defense, the Intelligence Community, Department of State and Department of Justice. We employ our expertise in policy planning and development; intrusion detection, analysis, prevention and deterrence; penetration and exploitation; security architecture design, development and implementation; certifi cation and accreditation; and training and awareness support. Our services include cyber security incident response, reverse engineering, kernel development, threat and malcode analysis, computer forensics, cyber threat analysis and vulnerability analysis. 9 Why ManTech? Customers, employees and investors have many choices. Customers put their faith in ManTech because: • We operate in nearly 40 countries and have 1,400 employees working overseas. We can rapidly mobilize to respond to our customers’ requirements. We have supported every major military deployment since Desert Storm. • We perform high quality work in a challenging environment where past performance is key. Many of the organizations that were our customers when we began operations 42 years ago are still our customers today. • We develop innovative, mission-critical technologies that solve some of our customers’ most complex challenges, such as A-space, an award winning product we developed for the Intelligence Community to collaborate and share information. Another breakthrough product, CORINTM XLS, is a specialty polyimide coating used in space and electronics applications that was named one of the top 100 most innovative new products by R&D magazine and is critical to the mission success of the James Webb Space Telescope, the nation’s most advanced telescope. • Our employees are dedicated to the mission and are proud to stand side-by-side with our customers. We will go anywhere our customer’s mission takes us, and we will work “outside the wire” on important missions, while understanding and managing the associated risks. Our employees work for ManTech because: • We have a “people fi rst” focus on retention, recruiting, redeployment and talent management. • We encourage professional development. Our award-winning, nationally recognized ManTech University off ers in-house training, professional certifi cations and educational opportunities with higher education partners. • We are recognized for our commitment to being an employer of choice in our marketplace: - For the last four years in a row, G.I. Jobs magazine has named ManTech one of the Top 10 Military Friendly Employers in the nation. - Northern Virginia Family Service gave us the CARE award for being a leader in providing family-friendly benefi ts and policies. - Last year we received the Patriot Award for extraordinary support to employees who serve in the U.S. National Guard and Reserves. 10 ManTech International Corporation Annual Report 2009 ManTech’s Mission: To advance customer success by delivering unique best-value solutions, consulting services and technologies that meet our clients’ mission- critical needs — anywhere, anytime — and we create added value through quality, innovation and partnership. • We off er challenging assignments that give employees a chance to support their country, coupled with competitive compensation and incentive plans. • We are a fast growing and successful company. Our growth and expansion create increased career opportunities for our employees. Investors choose ManTech because: • We are a national security “pure play” focused on large and growing markets in our sector, such as the Intelligence Community, cyber security, logistics and sustainment services for the warfi ghter, counter- terrorism and the protection of our homeland. As the cyber threat moves to federal civilian agencies, we will help defend their networks as well as the critical national infrastructure and the commercial companies that support it. • We provide technology solutions to critical intelligence and defense missions around the world and have the skilled people with the necessary security clearances to meet our customers’ needs. • We have excellent revenue visibility with long-term contracts at good margins with a customer that pays its bills on time. • We have a sensible, consistent growth strategy around acquisitive and organic growth, and we have proven that we have the discipline to follow it. • As a result of our recent management transition, we have a team in place with the capability and energy that we need to create a larger, stronger, and more collaborative ManTech, which makes ManTech a compelling investment right now. 11 How we support the community Our tradition of philanthropic giving and volunteerism is driven by a desire to make a diff erence in the communities in which we operate. The sense of personal responsibility and initiative that marks our corporate culture also shapes our approach to community involvement. At all levels, our employees assume leadership roles in choosing and participating in charitable activities they care deeply about. Many of our major activities focus on supporting our troops and their families. We’ve organized care-package mailings for soldiers in Iraq, joined with CharityWorks to raise $2 million to build Fisher House homes in Washington, D.C., sponsored military family support events at Army installations and donated items to wounded soldiers recovering at Walter Reed Army Medical Center. These activities do more than promote goodwill in the community; they refl ect our shared values and build a sense of purpose among our people. Our community service also reminds us that we’re about more than just profi ts – we’re committed to making our communities and the world a better place. ManTech and its employees supported the following organizations: • American Cancer Society • CharityWorks • U.S. Marine Corp Reserves – Toys for Tots • The Alternative House • American Diabetes Association Tour de Cure • American Diabetes Association Step Out: Walk to Fight Diabetes • Homestretch, Inc. • Make-a-Wish Foundation • Our Neighbor’s Child • The Sullivan House 12 ManTech International Corporation Annual Report 2009 • March of Dimes • The Ivymount School Transition-to-Work Program for Special Students • James Madison High School’s Robotics Club • Armed Forces Foundation and Paralyzed Veterans of America Golf Tournament • National MS Society • Operation Jump Start IV (Information Technology Association of America fundraiser to help wounded soldiers) • Northern Virginia Urban League • Cards and gift baskets to employees in Afghanistan with the troops • Food drives to assist Washington, D.C. area food banks: - Capital Area Food Bank - Serve, Inc. - Western Fairfax Christian Ministries - Interfaith Emergency Food Pantry in Reston ManTech believes that supporting those in need helps build our communities. 13 Management Team Left to Right Louis M. Addeo - President, ManTech Technical Services Group Kevin M. Phillips - Executive Vice President and Chief Financial Offi cer, ManTech International Corporation Terry M. Ryan - President, ManTech Systems Engineering and Advanced Technology Group L. William Varner - President, Mission, Cyber and Technology Solutions Group Board of Directors Top Row, Left to Right Bottom Row, Left to Right George J. Pedersen - Chairman of the Board and Chief Executive Offi cer Ambassador Richard L. Armitage - Former Deputy Secretary of State, Former Assistant Secretary of Defense, Former Presidential Special Envoy during the Gulf War Mary K. Bush - Founder and President, Bush International; Former Managing Director, Federal Housing Finance Board Barry G. Campbell - Former Chairman and Chief Executive Offi cer, Tracor Systems Technology, Inc. Walter R. Fatzinger, Jr. - Vice Chairman and Director, ASB Capital Management, Inc. Admiral David E. Jeremiah - U.S. Navy (Ret.), Former Vice Chairman of the Joint Chiefs of Staff Richard J. Kerr - Former Deputy Director, Central Intelligence Agency and CIA Offi cer Lieutenant General Kenneth A. Minihan, USAF (Ret) - Managing Director of the Homeland Security Fund for Paladin Capital Group, Former Director, National Security Agency; Former Director, Defense Intelligence Agency Lawrence B. Prior, III - President and Chief Operating Offi cer Stephen W. Porter - Senior Counsel, Arnold and Porter 14 ManTech International Corporation Annual Report 2009 Commitment to Corporate Governance Investor confi dence in ManTech is of paramount importance to us and our corporate governance policies provide a framework for the effi cient operation of our company, consistent with the best interests of our stockholders and applicable legal and regulatory requirements. ManTech has a system of controls and procedures designed to ensure the integrity and accuracy of our fi nancial results. At ManTech, we have always been diligent in complying with our established fi nancial accounting policies (consistent with GAAP), and in reporting our results with objectivity and the highest degree of integrity. We are committed to providing fi nancial information that is transparent, timely, complete, relevant and accurate. We are also committed to rigorously and diligently exercising our oversight responsibilities throughout the company, managing our aff airs consistent with the highest principles of business ethics, and meeting or exceeding the corporate governance requirements of the SEC and NASDAQ. Some of the steps we have taken to fulfi ll this commitment include: • A majority of our Board members are independent of ManTech and its management; • Our key Board committees – the Audit Committee, the Compensation Committee and the Nominations Committee – are comprised solely of independent directors; • Our independent directors meet regularly in executive session, without management present; • The charters of our key Board committees clearly establish their respective roles and responsibilities and are publicly available; • Our Nominations Committee has established a formal policy regarding the recommendation of director candidates by our stockholders, a copy of which is available on our Web site; • We have a code of business conduct and ethics that is monitored by our Corporate Compliance department, a copy of which is available on our Web site; and • We have an ethics offi ce with a hotline available to all of our employees, and our Audit Committee has procedures in place for the anonymous submission of employee complaints about accounting, internal control or auditing matters. We are devoted to ensuring that the high standards that we have established are consistently maintained. Our culture demands integrity and an unyielding commitment to strong internal practices and policies. We have the highest confi dence in our fi nancial reporting, our underlying system of internal controls and our people. We thank you for the confi dence you have placed in us. George J. Pedersen Chairman of the Board and CEO Lawrence B. Prior, III President and COO 15 What will drive our growth? U.S. Army Electronic Proving Ground ManTech received a $286 million contract from the U.S. Army Electronic Proving Ground (EPG) at Fort Huachuca, AZ, to provide engineering and technical support for Command, Control, Communications, Computers and Intelligence (C4I) testing. Under this contract awarded late last year, ManTech personnel support testing for navigation and sensor systems for reliability, availability and maintainability, electromagnetic interference/electromagnetic compatibility, and security. ManTech provides a full spectrum of services including scientifi c, engineering, technical, administrative, maintenance and logistics. Systems Engineering Support to the DHS Secure Border Initiative and Other Programs In October 2009, ManTech won a $99 million Indefi nite-Delivery, Indefi nite-Quantity contract to support the Department of Homeland Security (DHS) Secure Border Initiative (SBI). ManTech provides a full range of program management support services for the SBI, which promotes border security strategies that protect against and prevent terrorist attacks and other transnational crimes. Our services include systems engineering, operational requirements, integrated logistics, environmental planning and budget and fi nancial management. Two recent systems engineering wins with a classifi ed customer will further our reputation and growth in this area. National Media Exploitation Center ManTech received a $76 million competitive award for the IT operations and mission support program from the National Media Exploitation Center (NMEC) in the third quarter of 2009. ManTech provides NMEC with data center operations, network operations, software engineering, systems engineering, information assurance, requirements management, confi guration management, and project/program management support. NMEC is a Director of National Intelligence program with the Defense Intelligence Agency as the executive agent. It requires petabytes of storage and the development of cutting-edge document and media exploitation tools. Cyber Security and Intelligence Support The current and projected federal budgets provide funding for the Comprehensive National Cyber Initiative (CNCI), intelligence, surveillance and reconnaissance (ISR) and other intelligence customers. We have received additional funding on key cyber contracts, where we provide reverse engineering, vulnerability assessments, computer network operations, computer network forensics and training support to help our government “operate eff ectively in cyberspace,” one of the critical elements specifi ed in the Quadrennial Defense Review. We integrate and operate sensors to collect intelligence to support military operations and counter insurgency and terrorist activity, and we will leverage the Sensor Technologies Inc. acquisition to expand our presence in the ISR market. 16 ManTech International Corporation Annual Report 2009 Corporation Information Corporate Headquarters ManTech International Corporation 12015 Lee Jackson Highway Suite 800 Fairfax, VA 22033-3300 Main: (703) 218-6000 Fax: (703) 218-8296 Web site www.mantech.com Employment It is ManTech’s policy to recruit, hire, employ, train and promote persons in all job classifi cations without regard to race, color, religion, sex, age, national origin, disability or any other characteristics protected by law. Shareholder Information Transfer Agent Stockholders may obtain information with respect to share position, transfer requirements, address changes, lost stock certifi cates and duplicate mailings by writing or telephoning: American Stock Transfer & Trust Co. 59 Maiden Lane, New York, NY 10038 Attn: Shareholder Services 800-937-5449 or 718-921-8200 • www.amstock.com Annual Meeting ManTech’s Annual Meeting will be held on Wednesday, May 12, 2010, 11:00 am ET, at the Fair Lakes Hyatt, Fairfax, Virginia. Class A Common Stock Stock symbol: MANT Listed: NASDAQ National Market Independent Auditors Deloitte & Touche LLP McLean, Virginia Investor Communications Investors seeking the Form 10-K and additional information about the company may call 703-218-6000, write to Investors Relations at our corporate headquarters, or send an email to investor@mantech.com. ManTech’s earnings announcements, news releases, SEC fi lings and other investor information are available in the Investors section of our Web site. Forward-Looking Statement This summary annual report contains forward-looking statements that involve substantial risks and uncertainties, many of which are outside of our control. We believe that these statements are within the defi nition of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “plan,” “seek,” “estimate,” “continue” and other similar words. You should read our forward-looking statements carefully because they discuss our future expectations, make projections of our future results of operations or fi nancial condition, or state other “forward-looking” information. Although forward-looking statements in this summary annual report refl ect the good faith judgment of management, such statements can only be based on facts and factors currently known by us. Consequently, forward-looking statements are inherently subject to risks and uncertainties and actual results and outcomes may diff er materially from the results and outcomes discussed in or anticipated by the forward-looking statements. We believe that it is important to communicate our future expectations to our investors. However, there may be events in the future that we are not able to predict accurately or control. Factors that could cause actual results to diff er materially from the results we anticipate include, without limitation: adverse changes in U.S. government spending priorities; failure to retain existing U.S. government contracts, win new contracts, or win recompetes; adverse results of U.S. government audits of our government contracts; risks associated with complex U.S. government procurement laws and regulations; adverse eff ect of contract consolidations; risk of contract performance or termination; failure to obtain option awards, task orders or funding under contracts; adverse changes in our mix of contract types; failure to successfully integrate recently acquired companies or businesses into our operations or to realize any accretive or synergistic eff ects from such acquisitions; failure to identify, execute or eff ectively integrate future acquisitions; risks of fi nancing, such as increases in interest rates and restrictions imposed by our credit agreement; risks related to an inability to obtain new or additional fi nancing; and competition. These and other risk factors are more fully discussed in Item 1A “Risk Factors” as well as elsewhere in our Annual Report on Form 10-K, fi led with the SEC on February 26, 2010, and from time to time in our other fi lings with the SEC, including our reports on Form 10-Q and Form 8-K. We urge you not to place undue reliance on these forward-looking statements, which speak only as of the date of this summary annual report. We undertake no obligation to update any forward-looking statements in order to refl ect any event or circumstance that may arise after the date of this summary annual report. We also suggest that you carefully review and consider the various disclosures made in our Annual Report on Form 10-K and other fi lings with the SEC that attempt to advise interested parties of the risks and factors that may aff ect our business, fi nancial condition, results of operations and prospects. 17 1_103379 

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