Leidos [NYSE: LDOS], an engineering, health and national security solutions company, was awarded the next phase of a 10-year contract with United Power to implement an additional 20,000 meters supporting the utility's advanced metering infrastructure (AMI) project. United Power is a rural electric cooperative providing service to nearly 70,000 homes and businesses throughout Colorado's northern Front Range.
Backed by Leidos' industry-leading Smart Grid as a Service (SGS) offering, the second phase began in October 2013 and will be complete by September 2014. Building on the success of the pilot phase of the project, this phase continues the AMI deployment that is delivering improved efficiency and customer service for United Power.
The Leidos SGS offering is an integrated hardware and software solution that provides AMI, outage alerts/analysis, remote disconnect/connect capabilities, time of use, and net metering, as well as analytic and predictive capabilities. Leidos is also assisting United Power with refining its business processes and driving the culture change necessary to fully derive the benefits of SGS.
"Leidos' SGS solution has allowed United Power to reduce costs, enhance efficiencies, and proceed with the AMI deployment. The analytical capabilities of SGS are enabling us to better understand our infrastructure and proactively address potential problems," said United Power CEO Ron Asche.
"We challenged Leidos to prove that its SGS solution could deliver tangible benefits when the project began. Leidos has not only proven that these benefits are possible, but Leidos also helped us find more areas for improved efficiency and enhanced member support," said Mitzi Rea, Manager of Information Services at United Power. "Part of what made the pilot project successful was that fact that Leidos staff were on-site working as part of our team every step of the way. This has been a winning combination for United Power and for our members."
"Our experience with United Power has validated our SGS solution and serves as an example to other utilities that there is a more economical way to navigate the growing menu of advanced metering options," said Leidos Senior Vice President for Energy Solutions James Baxter. "SGS allows United Power and other utilities to avoid large, up-front investments and to gradually upgrade their systems on their desired schedule. We offer a solution that doesn't require raising customer rates to pay for the latest technology."
Leidos is a science and technology solutions leader working to address some of the world's toughest challenges in national security, health, and engineering. The Company's 23,000 employees support vital missions for our government and the commercial sector, develop innovative solutions to drive better outcomes, and defend our Nation's digital and physical infrastructure from 'new world' threats. Leidos is headquartered in Reston, Va. and had approximately $6 billion in revenues for fiscal year 2013, on a pro forma basis, following the spin-off of the company's technical, engineering and enterprise IT business on Sept. 27, 2013. For more information, visit www.Leidos.com.
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in Leidos' Annual Report on Form 10-K for the period ended January 31, 2013, and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.