L3 Technologies files protest with GAO related to Fort Rucker contract
L3 Technologies announced that it has filed a protest with the United States Government Accountability Office, GAO, related to the Fort Rucker Aviation Maintenance and Support contract. L3 has served as the incumbent contractor at Fort Rucker since 2003, where it has successfully supported this critical military training mission. "We are convinced our proposal represents the best value to both the military and the U.S. taxpayers," said Christopher E. Kubasik, L3's President and Chief Operating Officer. "We look forward to the GAO's review." L3's Senior Vice President and President of its Aerospace Systems business segment, Mark Von Schwarz, echoed Mr. Kubasik's comments and added, "L3 remains fully committed to serving the U.S. Army and Air Force at Fort Rucker, and the protest will not affect current operations." Notwithstanding the company's protest, as a result of the Fort Rucker recompetition loss, the company expects to record an impairment charge during the quarter ending September 29, for a substantial portion of the Vertex Aerospace business goodwill asset of $187M. The company is currently assessing the impact of the recompetition loss on the fair value of Vertex, which will ultimately determine the goodwill impairment charge.