UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549

                                  SCHEDULE 13D
                                 (Rule 13d-101)

                 INFORMATION TO BE INCLUDED IN STATEMENTS FILED
                PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO
                         FILED PURSUANT TO RULE 13d-2(a)

                                (Amendment No. 4)

                                Telos Corporation
                                -----------------
                                (Name of Issuer)

            12% Cumulative Exchangeable Redeemable Preferred Stock,
                           Par Value $0.01 Per Share
            -------------------------------------------------------
                         (Title of Class of Securities)

                                    87969B200
                                    ---------
                      (CUSIP Number of Class of Securities)

                    Wynnefield Partners Small Cap Value, L.P.
                          450 Seventh Avenue, Suite 509
                            New York, New York 10123
                           Attention: Mr. Nelson Obus
                           --------------------------
            (Name, Address and Telephone Number of Person Authorized
                     to Receive Notices and Communications)

                                    Copy to:

                            Jeffrey S. Tullman, Esq.
                               Kane Kessler, P.C.
                     1350 Avenue of the Americas, 26th Floor
                            New York, New York 10019
                                 (212) 541-6222

                                   May 3, 2005
                                   -----------
             (Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a Statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
Schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
[ ]

                         (continued on following pages)

                              (Page 1 of 11 Pages)

- ----------------------------------------------------------------------------------------------------------------------
CUSIP No. 87969B200                                13D/A                                Page 2 of 11 Pages
- ----------------------------------------------------------------------------------------------------------------------

- ----------------------------------------------------------------------------------------------------------------------
         1.          NAME OF REPORTING PERSON:
                     Wynnefield Partners Small Cap Value, L.P.
                     S.S. OR I.R.S. IDENTIFICATION No. OF ABOVE PERSON: 13-3688497
- ----------------------------------------------------------------------------------------------------------------------
         2.          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                        (a)     [X]
                                                                                        (b)     [ ]
- ----------------------------------------------------------------------------------------------------------------------
         3.          SEC USE ONLY

- ----------------------------------------------------------------------------------------------------------------------
         4.          SOURCE OF FUNDS
                     WC (SEE ITEM 3)
- ----------------------------------------------------------------------------------------------------------------------
         5.          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
                                                                                                [ ]
- ----------------------------------------------------------------------------------------------------------------------
         6.          CITIZENSHIP OR PLACE OF ORGANIZATION
                     DELAWARE
- ----------------------------------------------------------------------------------------------------------------------
                                                  7.       SOLE VOTING POWER
                                                           131,800 shares (See Item 5)
              NUMBER OF                  -----------------------------------------------------------------------------
               SHARES                             8.       SHARED VOTING POWER
            BENEFICIALLY                                   -0- (See Item 5)
               OWNED BY                  -----------------------------------------------------------------------------
            EACH REPORTING                        9.       SOLE DISPOSITIVE POWER
               PERSON                                      131,800 shares (See Item 5)
                WITH                     -----------------------------------------------------------------------------
                                                  10.      SHARED DISPOSITIVE POWER
                                                           -0- (See Item 5)
- ----------------------------------------------------------------------------------------------------------------------
         11.         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                     131,800 (See Item 5)
- ----------------------------------------------------------------------------------------------------------------------
         12.         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
                                                                                                [ ]
- ----------------------------------------------------------------------------------------------------------------------
         13.         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                     4.1% (See Item 5)
- ----------------------------------------------------------------------------------------------------------------------
         14.         TYPE OF REPORTING PERSON
                     PN
- ----------------------------------------------------------------------------------------------------------------------

                              (Page 2 of 11 Pages)

- ----------------------------------------------------------------------------------------------------------------------
CUSIP NO.  87969B200                               13D/A                                Page  3  of  11  Pages
- ----------------------------------------------------------------------------------------------------------------------

- ----------------------------------------------------------------------------------------------------------------------
         1.          NAME OF REPORTING PERSON:
                     Wynnefield Small Cap Value Offshore Fund, Ltd.
                     S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:  Not Applicable
- ----------------------------------------------------------------------------------------------------------------------
         2.          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                        (a)   [X]
                                                                                        (b)   | |
- ----------------------------------------------------------------------------------------------------------------------
         3.          SEC USE ONLY
- ----------------------------------------------------------------------------------------------------------------------
         4.          SOURCE OF FUNDS
                     WC (SEE ITEM 3)
- ----------------------------------------------------------------------------------------------------------------------
         5.          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2 (d) OR 2 (e)
                                                                                              [ ]
- ----------------------------------------------------------------------------------------------------------------------
         6.          CITIZENSHIP OR PLACE OF ORGANIZATION
                     CAYMAN ISLANDS
- ----------------------------------------------------------------------------------------------------------------------
                                                  7.       SOLE VOTING POWER
                                                           85,400 shares (See Item 5)
              NUMBER OF                  -----------------------------------------------------------------------------
               SHARES                             8.       SHARED VOTING POWER
            BENEFICIALLY                                   -0- (See Item 5)
               OWNED BY                  -----------------------------------------------------------------------------
            EACH REPORTING                        9.       SOLE DISPOSITIVE POWER
               PERSON                                      85,400 shares (See Item 5)
                WITH                     -----------------------------------------------------------------------------
                                                  10.      SHARED DISPOSITIVE POWER
                                                           -0- (See Item 5)
- ----------------------------------------------------------------------------------------------------------------------
         11.         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                     85,400 shares (See Item 5)
- ----------------------------------------------------------------------------------------------------------------------
         12.         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
                                                                                              [ ]
- ----------------------------------------------------------------------------------------------------------------------
         13.         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                     2.7% (See Item 5)
- ----------------------------------------------------------------------------------------------------------------------
         14.         TYPE OF REPORTING PERSON
                     CO
- ----------------------------------------------------------------------------------------------------------------------

                              (Page 3 of 11 Pages)

- ----------------------------------------------------------------------------------------------------------------------
CUSIP NO. 87969B200                                13D/A                                Page  4  of  11  Pages
- ----------------------------------------------------------------------------------------------------------------------

- ----------------------------------------------------------------------------------------------------------------------
         1.          NAME OF REPORTING PERSON:
                     Wynnefield Partners Small Cap Value, L.P. I
                     S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 13-3953291
- ----------------------------------------------------------------------------------------------------------------------
         2.          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                        (a) [X]
                                                                                        (b) [ ]
- ----------------------------------------------------------------------------------------------------------------------
         3.          SEC USE ONLY
- ----------------------------------------------------------------------------------------------------------------------
         4.          SOURCE OF FUNDS
                     WC (SEE ITEM 3)
- ----------------------------------------------------------------------------------------------------------------------
         5.          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
                                                                                            [ ]
- ----------------------------------------------------------------------------------------------------------------------
         6.          CITIZENSHIP OR PLACE OF ORGANIZATION
                     DELAWARE
- ----------------------------------------------------------------------------------------------------------------------
                                                  7.       SOLE VOTING POWER
                                                           142,800 shares (See Item 5)
              NUMBER OF                  -----------------------------------------------------------------------------
               SHARES                             8.       SHARED VOTING POWER
            BENEFICIALLY                                   -0- (See Item 5)
               OWNED BY                  -----------------------------------------------------------------------------
            EACH REPORTING                        9.       SOLE DISPOSITIVE POWER
               PERSON                                      142,800 shares (See Item 5)
                WITH                     -----------------------------------------------------------------------------
                                                  10.      SHARED DISPOSITIVE POWER
                                                           -0- (See Item 5)
- ----------------------------------------------------------------------------------------------------------------------
         11.         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                     142,800 shares (See Item 5)
- ----------------------------------------------------------------------------------------------------------------------
         12.         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
                                                                                             [ ]
- ----------------------------------------------------------------------------------------------------------------------
         13.         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                     4.5% (See Item 5)
- ----------------------------------------------------------------------------------------------------------------------
         14.         TYPE OF REPORTING PERSON
                     PN
- ----------------------------------------------------------------------------------------------------------------------

                              (Page 4 of 11 Pages)

- ----------------------------------------------------------------------------------------------------------------------
CUSIP No. 87969B200                                13D/A                                Page  5  of  11  Pages
- ----------------------------------------------------------------------------------------------------------------------

- ----------------------------------------------------------------------------------------------------------------------
         1.           NAME OF REPORTING PERSON:
                      Channel Partnership II, L.P.
                      S.S. OR I.R.S. IDENTIFICATION No. OF ABOVE PERSON: 22-3215653
- ----------------------------------------------------------------------------------------------------------------------
         2.           CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                        (a) [X]
                                                                                        (b) [ ]
- ----------------------------------------------------------------------------------------------------------------------
         3.           SEC USE ONLY
- ----------------------------------------------------------------------------------------------------------------------
         4.           SOURCE OF FUNDS
                      WC (SEE ITEM 3)
- ----------------------------------------------------------------------------------------------------------------------
         5.           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
                                                                                            [ ]
- ----------------------------------------------------------------------------------------------------------------------
         6.           CITIZENSHIP OR PLACE OF ORGANIZATION
                      NEW YORK
- ----------------------------------------------------------------------------------------------------------------------
                                                  7.       SOLE VOTING POWER
                                                           13,500 shares (See Item 5)
              NUMBER OF                  -----------------------------------------------------------------------------
               SHARES                             8.       SHARED VOTING POWER
            BENEFICIALLY                                      -0- (See Item 5)
               OWNED BY                  -----------------------------------------------------------------------------
            EACH REPORTING                        9.       SOLE DISPOSITIVE POWER
               PERSON                                      13,500 shares (See Item 5)
                WITH                     -----------------------------------------------------------------------------
                                                  10.      SHARED DISPOSITIVE POWER
                                                           -0- (See Item 5)
- ----------------------------------------------------------------------------------------------------------------------
         11.          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                      13,500 shares (See Item 5)
- ----------------------------------------------------------------------------------------------------------------------
         12.          CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
                                                                                            [ ]
- ----------------------------------------------------------------------------------------------------------------------
         13.          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                      0.4% (See Item 5)
- ----------------------------------------------------------------------------------------------------------------------
         14.          TYPE OF REPORTING PERSON
                      PN
- ----------------------------------------------------------------------------------------------------------------------

                              (Page 5 of 11 Pages)

- ----------------------------------------------------------------------------------------------------------------------
CUSIP No. 87969B200                                13D/A                                Page  6  of  11  Pages
- ----------------------------------------------------------------------------------------------------------------------

- ----------------------------------------------------------------------------------------------------------------------
         1.          NAME OF REPORTING PERSON:
                     Nelson Obus
                     S.S. OR I.R.S. IDENTIFICATION No. OF ABOVE PERSON:
- ----------------------------------------------------------------------------------------------------------------------
         2.          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                        (a) [ ]
                                                                                        (b) [X]
- ----------------------------------------------------------------------------------------------------------------------
         3.          SEC USE ONLY
- ----------------------------------------------------------------------------------------------------------------------
         4.          SOURCE OF FUNDS
                     AF (SEE ITEM 3)
- ----------------------------------------------------------------------------------------------------------------------
         5.          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
                                                                                            [ ]
- ----------------------------------------------------------------------------------------------------------------------
         6.          CITIZENSHIP OR PLACE OF ORGANIZATION
                     UNITED STATES OF AMERICA
- ----------------------------------------------------------------------------------------------------------------------
                                                  7.       SOLE VOTING POWER
                                                           13,500 shares (See Item 5) (1)
              NUMBER OF                  -----------------------------------------------------------------------------
               SHARES                             8.       SHARED VOTING POWER
            BENEFICIALLY                                   360,000 (See Item 5) (1)
               OWNED BY                  -----------------------------------------------------------------------------
            EACH REPORTING                        9.       SOLE DISPOSITIVE POWER
               PERSON                                      13,500 shares (See Item 5) (1)
                WITH                     -----------------------------------------------------------------------------
                                                  10.      SHARED DISPOSITIVE POWER
                                                           360,000 (See Item 5) (1)
- ----------------------------------------------------------------------------------------------------------------------
         11.         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                     373,500 shares (See Item 5)(1)
- ----------------------------------------------------------------------------------------------------------------------
         12.         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
                                                                                            [ ]
- ----------------------------------------------------------------------------------------------------------------------
         13.         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                     11.7% (See Item 5)(1)
- ----------------------------------------------------------------------------------------------------------------------
         14.         TYPE OF REPORTING PERSON
                     IN
- ----------------------------------------------------------------------------------------------------------------------
         (1)         Mr. Obus may be deemed to have an indirect beneficial ownership in such shares through
                     his positions as a co-managing member of Wynnefield Capital Management, LLC, a principal
                     executive officer of Wynnefield Capital, Inc., and general partner of Channel Partnership II,
                     L.P. Wynnefield Capital Management, LLC holds an indirect beneficial ownership interest in
                     274,600 shares which are directly owned by Wynnefield Partners Small Cap Value, L.P. and
                     Wynnefield Partners Small Cap Value, L.P. I. Wynnefield Capital, Inc. holds an indirect
                     beneficial ownership interest in 85,400 shares which are directly beneficially owned by
                     Wynnefield Small Cap Value Offshore Fund, Ltd. Channel Partnership II, L.P. directly owns
                     13,500 shares. As Mr. Joshua H. Landes is a co-managing member of Wynnefield Capital
                     Management, LLC and an executive officer of Wynnefield Capital, Inc., Mr. Obus shares voting
                     and dispositive power with Mr. Landes with regard to any shares beneficially owned by
                     Wynnefield Capital Management, LLC and Wynnefield Capital, Inc.
- ----------------------------------------------------------------------------------------------------------------------

                              (Page 6 of 11 Pages)

- --------------------------------------------------------------------------------
CUSIP No. 87969B200                  13D/A                   Page 7 of 11 Pages
- --------------------------------------------------------------------------------

- --------------------------------------------------------------------------------
     1.   NAME OF REPORTING PERSON: Joshua H. Landes
          S.S. OR I.R.S. IDENTIFICATION No. OF ABOVE PERSON:
- --------------------------------------------------------------------------------
     2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                         (a) [ ]
                                                                         (b) [X]
- --------------------------------------------------------------------------------
     3. SEC USE ONLY

- --------------------------------------------------------------------------------
     4.   SOURCE OF FUNDS AF (SEE ITEM 3)

- --------------------------------------------------------------------------------
     5.   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
          ITEMS 2(d) OR 2(e) [ ]

- --------------------------------------------------------------------------------
     6.   CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES OF AMERICA

- --------------------------------------------------------------------------------
           NUMBER OF                        7.    SOLE VOTING POWER
            SHARES                                -0- (See Item 5) (1)
         BENEFICIALLY              ---------------------------------------------
           OWNED BY                         8.    SHARED VOTING POWER
        EACH REPORTING                            360,000 (See Item 5) (1)
            PERSON                 ---------------------------------------------
             WITH                           9.    SOLE DISPOSITIVE POWER
                                                  -0- (See Item 5)(1)
                                   ---------------------------------------------
                                            10.   SHARED DISPOSITIVE POWER
                                                  360,000 (See Item 5) (1)
- --------------------------------------------------------------------------------
     11.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 360,000
          shares (See Item 5)(1)

- --------------------------------------------------------------------------------
     12.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
          [ ]

- --------------------------------------------------------------------------------
     13.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.3% (See Item
          5)(1)

- --------------------------------------------------------------------------------
     14.  TYPE OF REPORTING PERSON IN

- --------------------------------------------------------------------------------
     (1)  Mr. Landes may be deemed to have an indirect beneficial ownership in
          such shares through his positions as a managing member of Wynnefield
          Capital Management, LLC and an executive officer of Wynnefield
          Capital, Inc. Wynnefield Capital Management, LLC holds an indirect
          beneficial ownership interest in 274,600 shares which are directly
          owned by Wynnefield Partners Small Cap Value, L.P. and Wynnefield
          Partners Small Cap Value, L.P. I. Wynnefield Capital, Inc. holds an
          indirect beneficial ownership interest in 85,400 shares which are
          directly beneficially owned by Wynnefield Small Cap Value Offshore
          Fund, Ltd. As Mr. Obus is a co-managing member of Wynnefield Capital
          Management, LLC and a principal executive officer of Wynnefield
          Capital, Inc., Mr. Landes shares voting and dispositive power with Mr.
          Obus with regard to any shares beneficially owned by Wynnefield
          Capital Management, LLC and Wynnefield Capital, Inc.

                              (Page 7 of 11 Pages)

- ----------------------------------------------------------------------------------------------------------------------
CUSIP NO. 87969B200                                13D/A                         Page  8  of  11  Pages
- ----------------------------------------------------------------------------------------------------------------------

- ----------------------------------------------------------------------------------------------------------------------
         1.          NAME OF REPORTING PERSON:
                     Wynnefield Capital Management, LLC
                     S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-4018186
- ----------------------------------------------------------------------------------------------------------------------
         2.          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                        (a) [X]
                                                                                        (b) [ ]
- ----------------------------------------------------------------------------------------------------------------------
         3.          SEC USE ONLY
- ----------------------------------------------------------------------------------------------------------------------
         4.          SOURCE OF FUNDS
                     AF (SEE ITEM 3)
- ----------------------------------------------------------------------------------------------------------------------
         5.          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
                                                                                            [ ]
- ----------------------------------------------------------------------------------------------------------------------
         6.          CITIZENSHIP OR PLACE OF ORGANIZATION
                     NEW YORK
- ----------------------------------------------------------------------------------------------------------------------
                                                  7.       SOLE VOTING POWER
                                                           274,600 shares (See Item 5) (1)
              NUMBER OF                  -----------------------------------------------------------------------------
               SHARES                             8.       SHARED VOTING POWER
            BENEFICIALLY                                   -0- (See Item 5)
               OWNED BY                  -----------------------------------------------------------------------------
            EACH REPORTING                        9.       SOLE DISPOSITIVE POWER
               PERSON                                      274,600 shares (See Item 5) (1)
                WITH                     -----------------------------------------------------------------------------
                                                  10.      SHARED DISPOSITIVE POWER
                                                           -0- (See Item 5)
- ----------------------------------------------------------------------------------------------------------------------
         11.         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                     274,600 shares (See Item 5) (1)
- ----------------------------------------------------------------------------------------------------------------------
         12.         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
                                                                                            [ ]
- ----------------------------------------------------------------------------------------------------------------------
         13.         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                     8.6% (See Item 5) (1)
- ----------------------------------------------------------------------------------------------------------------------
         14.         TYPE OF REPORTING PERSON
                     OO (Limited Liability Company)
- ----------------------------------------------------------------------------------------------------------------------
         (1)         Wynnefield Capital Management, LLC, as the general partner of Wynnefield Partners Small Cap
                     Value, L.P. and Wynnefield Partners Small Cap Value, L.P. I, holds an indirect beneficial
                     interest in these shares which are directly beneficially owned by Wynnefield Partners Small
                     Cap Value, L.P. and Wynnefield Partners Small Cap Value, L.P. I.
- ----------------------------------------------------------------------------------------------------------------------

                              (Page 8 of 11 Pages)

- ----------------------------------------------------------------------------------------------------------------------
CUSIP NO. 87969B200                                13D/A                         Page  9  of  11  Pages
- ----------------------------------------------------------------------------------------------------------------------

- ----------------------------------------------------------------------------------------------------------------------
         1.          NAME OF REPORTING PERSON:
                     Wynnefield Capital, Inc.
                     S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: N/A
- ----------------------------------------------------------------------------------------------------------------------
         2.          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                        (a)  [X]
                                                                                        (b)  [ ]
- ----------------------------------------------------------------------------------------------------------------------
         3.          SEC USE ONLY
- ----------------------------------------------------------------------------------------------------------------------
         4.          SOURCE OF FUNDS
                     AF (SEE ITEM 3)
- ----------------------------------------------------------------------------------------------------------------------
         5.          CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
                                                                                            [ ]
- ----------------------------------------------------------------------------------------------------------------------
         6.          CITIZENSHIP OR PLACE OF ORGANIZATION
                     CAYMAN ISLANDS
- ----------------------------------------------------------------------------------------------------------------------
                                                  7.       SOLE VOTING POWER
                                                           85,400 shares (See Item 5)(1)
              NUMBER OF                  -----------------------------------------------------------------------------
               SHARES                             8.       SHARED VOTING POWER
            BENEFICIALLY                                   -0- (See Item 5)
               OWNED BY                  -----------------------------------------------------------------------------
            EACH REPORTING                        9.       SOLE DISPOSITIVE POWER
               PERSON                                      85,400 shares (See Item 5)(1)
                WITH                     -----------------------------------------------------------------------------
                                                  10.      SHARED DISPOSITIVE POWER
                                                           -0- (See Item 5)
- ----------------------------------------------------------------------------------------------------------------------
         11.         AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                     85,400 shares (See Item 5)(1)
- ----------------------------------------------------------------------------------------------------------------------
         12.         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
                                                                                            [ ]
- ----------------------------------------------------------------------------------------------------------------------
         13.         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
                     2.7% (See Item 5)(1)
- ----------------------------------------------------------------------------------------------------------------------
         14.         TYPE OF REPORTING PERSON
                     CO
- ----------------------------------------------------------------------------------------------------------------------
         (1)         Wynnefield Capital, Inc. as the sole investment manager of Wynnefield Small Cap Value Offshore
                     Fund, Ltd., holds an indirect beneficial interest in these shares which are directly
                     beneficially owned by Wynnefield Small Cap Value Offshore Fund, Ltd.
- ----------------------------------------------------------------------------------------------------------------------

                              (Page 9 of 11 Pages)

     This Amendment No. 4 (the "Amendment") amends the Statement of Beneficial
Ownership on Schedule 13D, filed with the Securities and Exchange Commission
(the "Commission") on April 1, 2005 (the "Amended and Restated Schedule 13D"),
which amended and restated the previous Statements of Beneficial Ownership on
Schedule 13D filed by Wynnefield Partners Small Cap Value, L.P. (the
"Partnership"), Wynnefield Small Cap Value Offshore Fund, Ltd. (the "Fund"),
Wynnefield Partners Small Cap Value, L.P. I (the "Partnership-I") and Channel
Partnership II, L.P. ("Channel" and, collectively with the Partnership, the
Fund, the Partnership-I and Channel, the "Original Reporting Persons"), with
respect to the shares of 12% Cumulative Exchangeable Redeemable Preferred Stock,
par value $0.01 per share (the "Preferred Stock"), of Telos Corporation, a
Maryland corporation with its principal executive offices located at 19886
Ashburn Road, Ashburn, Virginia 20147-2358 (the "Issuer"). In addition to the
Original Reporting Persons, this Amendment is filed by and on behalf of
Wynnefield Capital Management, LLC ("WCM"), Wynnefield Capital, Inc., Nelson
Obus ("Mr. Obus") and Joshua H. Landes. The information contained in this
Amendment is as of the date hereof, unless otherwise expressly provided herein.

ITEM 4. PURPOSE OF TRANSACTION.

     Item 4. Purpose of Transaction appearing in the Amended and Restated
Schedule 13D is supplemented by adding the following disclosure to the end of
such item:

     On May 3, 2005, Mr. Obus of WCM sent a letter to the Committee of
Independent Directors of the Board of Directors of the Issuer jointly with other
holders of the Preferred Stock. A copy of the letter is filed as Exhibit 99.1
hereto and is incorporated herein by reference. The letter urges the Committee
of Independent Directors to consider a strategic transaction such as, but not
limited to, a public equity offering or a merger transaction so that the Issuer
may recognize its unrealized enterprise value and raise sufficient legally
available funds to fulfill its contractual obligations to redeem the Preferred
Stock on November 21, 2005.

     The signatories to the letter included four other holders of the Preferred
Stock. The signatories to the letter expressly state that they are not acting
together for purposes of acquiring, holding, voting or disposing of any equity
security of the Issuer, and they expressly deny that they constitute a group
within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934,
as amended.

ITEM 7. MATERIAL TO BE FILED AS EXHIBITS

     The following exhibit is filed as part of this Amendment:

              Exhibit 99.1      Letter dated May 3, 2005 to the Committee of
                                Independent Directors of the Board of Directors
                                of the Issuer

                              (Page 10 of 11 Pages)

                                    SIGNATURE

     After reasonable inquiry and to the best of their knowledge and belief, the
undersigned certify that the information set forth in this Amendment is true,
complete and correct.

Dated: May 6, 2005

                                  WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.

                                  By: Wynnefield Capital Management, LLC,
                                      its General Partner

                                  By: /s/ Nelson Obus
                                      ------------------------------------------
                                      Nelson Obus, Co-Managing Member

                                  WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. I

                                  By: Wynnefield Capital Management, LLC,
                                      its General Partner

                                  By: /s/ Nelson Obus
                                      ------------------------------------------
                                      Nelson Obus, Co-Managing Member

                                  WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD.

                                  By: Wynnefield Capital, Inc.,
                                      its Investment Manager

                                  By: /s/ Nelson Obus
                                      ------------------------------------------
                                      Nelson Obus, President

                                  WYNNEFIELD CAPITAL MANAGEMENT, LLC

                                  By: /s/ Nelson Obus
                                      ------------------------------------------
                                      Nelson Obus, Co-Managing Member

                                  WYNNEFIELD CAPITAL, INC.

                                  By: /s/ Nelson Obus
                                      ------------------------------------------
                                      Nelson Obus, President

                                  CHANNEL PARTNERSHIP II, L.P.

                                  By: /s/ Nelson Obus
                                      ------------------------------------------
                                      Nelson Obus, General Partner

                                  /s/ Nelson Obus
                                  ----------------------------------------------
                                  Nelson Obus, Individually

                                  /s/ Joshua H. Landes
                                  ----------------------------------------------
                                  Joshua H. Landes, Individually

                              (Page 11 of 11 Pages)

                                  EXHIBIT INDEX

              Exhibit 99.1      Letter dated May 3, 2005 to the Committee of
                                Independent Directors of the Board of Directors
                                of the Issuer

Exhibit 99.1 
  
Dr. Fred C. Ikle 
Mr. David Borland 
Ambassador Langhorne A. Motley 
Committee of Independent Directors of the Board of Directors 
Telos Corporation 
c/o Joseph M. Berl 
Powell Goldstein LLP 
901 New York Avenue, N.W. 
Washington, D.C. 20001-4413 

May 3, 2005 

Gentlemen: 

The parties signing this letter (the Signatories) are responding to your recent letters to them soliciting their input to the financial restructuring of Telos Corporation(1) (the Company). As the Signatories are among the largest holders of the Companys sole public security, they are pleased to provide a joint response based on the verbal acknowledgement by legal counsel to the Independent Committee. 

(1) Formerly C3 Inc. 
  
The Signatories each hereby acknowledges and agrees that, by holding discussions and meetings relating to a possible restructuring of the capital of the Company, and by delivering this proposal in connection with such possible restructuring, none of the Signatories has acted together nor agreed to act together with another for purposes of acquiring, holding, voting or disposing of an equity security of the Company or for any other purpose, and therefore the Signatories do not constitute a group within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the Exchange Act). Neither the submission of this letter nor anything contained herein or discussed shall be construed as an admission that the Signatories constitute a person or group for any purpose, or an admission that any Signatory is, for the purposes of Section 13(d) or 13(g) of the Exchange Act, the beneficial owner of any of the equity securities of the Company owned by any other Signatory. The Signatories expressly acknowledge and agree that no Signatory has any shared voting or dispositive power over the equity securities of the Company owned by any other Signatory. Except for the submission of this letter in response to the solicitation of the Company, the Signatories do not have any contracts, arrangements, understandings or relationships (legal or otherwise) with or among each other with respect to any securities of the Company, including but not limited to transfer or voting of any of the securities of the Company, finders fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies, or a pledge or contingency the occurrence of which would give another person voting or dispositive power over the securities of the Company. 

  
Each of the Signatories is aware that the security that he owns, Telos 12% Cumulative Exchangeable Redeemable Preferred Stock (the Security), was issued in 1989 as a component of the leveraged buyout (LBO) of C3 Inc. by C3 Acquisition Corp. Each of the Signatories is also aware that the Security has a first mandatory redemption date of November 21, 2005 at a price of $10 per share, plus accrued and unpaid, contractually obligated dividends. 
  
As you are aware, the Security is a fixed obligation of the Company and the holders of the Security are not considered by the Company to be equity participants, as disclosed in the October 20, 1989 Proxy Statement/Prospectus: 
  
As a result [of receiving the Security] the public shareholders of the Company [existing prior to completion of the LBO] will be deprived of the opportunity to share in any future earnings or growth of the Company 
  
Additionally, each of the Signatories is aware of the Board of Directors disclosure statements made in the Companys SEC filings on Forms 8-K, 10-Q and 10-K beginning in March 2004 that the Company believes it will more likely than not be unable to meet the redemption schedule in accordance with the contractual obligations set forth in the terms of the Security. 
  
Each of the Signatories acknowledges that based on the Companys Form 10-K for the fiscal year ended December 31, 2004, on that date, the Company did not have sufficient cash on hand to effect the mandatory redemption that is scheduled to commence this year in accordance with the contractual obligations of the Company under the terms of the Security. However, each of the Signatories believes that the Company has substantial unrealized total enterprise value (TEV) that could be unlocked by the Board of Directors through a strategic transaction such as, but not limited to, a public equity offering or a merger transaction (a Strategic Transaction). Such a Strategic Transaction is interesting because it has the potential to unlock substantial value that can be made available to the Company to provide legally available funds to either completely or near completely fulfill the contractual obligations of the Company under the terms of the Security. 
  
Based on independent analysis conducted by certain of the Signatories, and submitted in the enclosed summary, each of the Signatories estimates that the Companys unrealized TEV is at least between $80 million and $100 million. 
  
In exploring the Companys ability to execute a Strategic Transaction, some of the Signatories have had informal extensive discussions with nationally-recognized investment banks that specialize in the Companys sector, including Friedman Billings Ramsey, BB&T Windsor Group, RBC Capital Markets, Stephens Financial Group and Morgan Joseph. These investment banks have expressed confidence in their respective independent abilities to successfully execute a Strategic Transaction on behalf of the Company. 
  
The Committee of Independent Directors, in addition to the entire Board of Directors, has a fiduciary duty to direct and aggressively pursue a Strategic Transaction that would unlock the unrealized TEV and provide legally available funds for fulfilling the contractual obligations of the Company under the terms of the Security. 

  
To assist the Committee of Independent Directors and the Company in facilitating a Strategic Transaction for the purposes of unlocking unrealized TEV and fulfilling the contractual obligations of the Company under the terms of the Security, some interest has been expressed by the Signatories in the possibility that holders of the Security may consent to a reduction to the dollar amount of the accrued and unpaid dividends currently due and owed by the Company ($38.75 million as of March 31, 2005). 
  
Each of the Signatories would welcome an opportunity to meet with you to discuss these issues. The Signatories understand from certain conversations with Counsel to the Committee of Independent Directors that a meeting will be held on May 10, 2005 at the office of Powell Goldstein. Subject to scheduling, each of the Signatories would be very pleased to meet with you at that time. 

Sincerely, 

/s/ Timothy G. Ewing 	  	/s/ Andrew R. Siegel 	  	
Timothy G. Ewing 	  	Andrew R. Siegel 	  	
Ewing & Partners 	  	Costa Brava Partnership III, L.P. 	  	

/s/ Nelson Obus 	  	  	  	
Nelson Obus 	  	Victor Morgenstern 	  	
Wynnefield Capital Management, LLC 	  	  	  	

/s/ David P. Cohen 	  	  	  	
David P. Cohen 	  	  	  	
Athena Capital Management, Inc. 	  	  	  	

Enc: summary valuation analysis 

  
Submission to Committe of Independent Directors 	Telos Corporation 	

  	  	Indicative 	  	  	  	
  	  	Value Ranges 	  	Mid 	  	
  	  	($ in millions) 	  	Point 	  	
Comparable M&A Transactions 	  	  	  	  	  	  	  	  	  	
Revenue 	  	$ 	83.1 	  	- 	  	$ 	264.5 	  	$ 	173.8 	  	
EBITDA 	  	$ 	48.3 	  	- 	  	$ 	122.2 	  	$ 	85.2 	  	
Adjusted EBITDA (1) 	  	$ 	63.6 	  	- 	  	$ 	161.0 	  	$ 	112.3 	  	
  	  	  	  	  	  	  	  	  	  	
Comparable Public Equity Market 	  	  	  	  	  	  	  	  	  	
Revenue 	  	$ 	84.2 	  	- 	  	$ 	291.2 	  	$ 	187.7 	  	
EBITDA 	  	$ 	60.3 	  	- 	  	$ 	128.0 	  	$ 	94.2 	  	
Adjusted EBITDA (1) 	  	$ 	79.4 	  	- 	  	$ 	168.7 	  	$ 	124.0 	  	
  	  	  	  	  	  	  	  	  	  	
Indicative Value Range 	  	  	  	  	  	  	  	  	  	
Revenue 	  	$ 	83.1 	  	- 	  	$ 	291.2 	  	$ 	187.1 	  	
EBITDA 	  	$ 	48.3 	  	- 	  	$ 	128.0 	  	$ 	88.2 	  	
Adjusted EBITDA (1) 	  	$ 	63.6 	  	- 	  	$ 	168.7 	  	$ 	116.1 	  	

(1) EBITDA adjusted for discretionary cash bonuses and consulting fees to the majority common shareholder 

  
Indicative Valuation Ranges 
($ in millions) 

  

  	  	Indicative 	  	
  	  	Valuation Mutiples 	  	
Comparable M&A Transactions 	  	  	  	  	  	  	  	
Revenue multiples: 	  	0.7x 	  	- 	  	2.3x 	  	
EBITDA multiples: 	  	6.6x 	  	- 	  	16.6x 	  	

Comparable Public Equity Market 	  	  	  	  	  	  	  	
Revenue multiples: 	  	0.7x 	  	- 	  	2.5x 	  	
EBITDA multiples: 	  	8.2x 	  	- 	  	17.4x 	  	

Indicative Multiple Range 	  	  	  	  	  	  	  	
Revenue multiples 	  	0.7x 	  	- 	  	2.5x 	  	
EBITDA multiples 	  	6.6x 	  	- 	  	17.4x 	  	

Telos LTM, as of 12/31/2004 (in $ millions) 	  	  	  	  	  	  	  	
Revenue 	  	$ 	116.7 	  	  	  	  	  	
EBITDA 	  	$ 	7.4 	  	  	  	  	  	
Adjusted EBITDA (1) 	  	$ 	9.7 	  	  	  	  	  	

(1) EBITDA adjusted for discretionary cash bonuses and consulting fees to the majority common shareholder 

  
($MM) 	  	  	  	  	  	  	  	  	  	  	  	  	  	
Date 	  	  	  	  	  	Transaction 	  	Target 	  	TEV / 	  	TEV / 	  	
Announced 	  	Target 	  	Acquirer 	  	Value 	  	LTM Revenue 	  	LTM Revenue 	  	LTM EBITDA 	  	
  	  	  	  	  	  	  	  	  	  	  	  	  	  	
4/26/2005 	  	PEC Solutions, Inc. 	  	Nortel Networks Inc. 	  	$ 	448.0 	  	$ 	202.7 	  	2.2x 	  	14.0x 	  	
3/22/2005 	  	ComGlobal Systems, Incorporated 	  	Analex Corp. 	  	$ 	47.0 	  	$ 	39.5 	  	1.2x 	  	9.2x 	  	
2/18/2005 	  	SYTEX Group Inc. 	  	Lockheed Martin Corporation 	  	$ 	462.0 	  	$ 	425.0 	  	1.1x 	  	NA 	  	
2/18/2005 	  	Integic Corporation 	  	Northrop Grumman Corporation 	  	$ 	313.0 	  	$ 	161.0 	  	1.9x 	  	NA 	  	
1/19/2005 	  	OnBoard Software Inc. 	  	MTC Technologies Inc. 	  	$ 	34.0 	  	$ 	15.0 	  	2.3x 	  	NA 	  	
1/12/2005 	  	Shenandoah Electronic Intelligence Inc. 	  	SI International Inc. 	  	$ 	75.0 	  	$ 	73.9 	  	1.0x 	  	7.9x 	  	
1/7/2005 	  	Windermere Group LLC 	  	Essex Corp. 	  	$ 	69.4 	  	$ 	64.0 	  	1.1x 	  	NA 	  	
1/3/2005 	  	Sytel Inc. 	  	TechTeam Global, Inc. 	  	$ 	20.5 	  	$ 	28.8 	  	0.7x 	  	7.2x 	  	
12/27/2004 	  	Manufacturing Technology Inc. 	  	MTC Technologies Inc. 	  	$ 	75.0 	  	$ 	50.0 	  	1.5x 	  	NA 	  	
12/16/2004 	  	RCI Holdings Corp. 	  	Serco Group Plc 	  	$ 	215.0 	  	$ 	256.0 	  	0.8x 	  	14.3x 	  	
12/1/2004 	  	Bridge Technology Corporation 	  	SI International Inc. 	  	$ 	30.0 	  	$ 	22.2 	  	1.4x 	  	8.6x 	  	
9/11/2004 	  	DigitalNet Holdings Inc. 	  	BAE Systems North America 	  	$ 	585.9 	  	$ 	354.2 	  	1.7x 	  	NA 	  	
9/9/2004 	  	AC Technologies Inc. 	  	PEC Solutions, Inc. 	  	$ 	49.7 	  	$ 	48.5 	  	1.0x 	  	6.6x 	  	
8/11/2004 	  	Integrated Management Services, Inc. 	  	Anteon International Corp. 	  	$ 	31.0 	  	$ 	30.0 	  	1.0x 	  	NA 	  	
8/2/2004 	  	Impact Innovations Group LLC (Gov division) 	  	Dynamics Research Corporation 	  	$ 	53.4 	  	$ 	47.0 	  	1.1x 	  	NA 	  	
7/27/2004 	  	Simulation Technologies, Inc. 	  	Anteon International Corp. 	  	$ 	15.0 	  	$ 	20.0 	  	0.8x 	  	NA 	  	
6/29/2004 	  	Command Technologies, Inc. 	  	MTC Technologies Inc. 	  	$ 	47.0 	  	$ 	36.0 	  	1.3x 	  	NA 	  	
6/1/2004 	  	EPOS Corp 	  	Tier Technologies Inc. 	  	$ 	19.0 	  	$ 	15.0 	  	1.3x 	  	NA 	  	
5/28/2004 	  	Integrated Information Technology Corp. 	  	PEC Solutions Inc. 	  	$ 	35.0 	  	$ 	36.0 	  	1.0x 	  	8.3x 	  	
5/6/2004 	  	Beta Analytics International Inc. 	  	Analex Corp. 	  	$ 	32.3 	  	$ 	33.0 	  	1.0x 	  	NA 	  	
4/5/2004 	  	STI Government Systems 	  	BAE Systems North America 	  	$ 	27.0 	  	NA 	  	NA 	  	NA 	  	
3/10/2004 	  	AMS Defense & Intelligence Group 	  	CACI International 	  	$ 	415.0 	  	$ 	250.0 	  	1.7x 	  	16.6x 	  	
2/12/2004 	  	CMS Information Services, Inc 	  	CACI International 	  	$ 	30.0 	  	$ 	39.0 	  	0.8x 	  	10.7x 	  	
1/22/2004 	  	Science & Engineering Associates, Inc. 	  	ITS Services Inc. 	  	$ 	100.0 	  	$ 	108.0 	  	0.9x 	  	11.6x 	  	
1/8/2004 	  	ORION Scientific Systems, Inc. 	  	SRA International Inc. 	  	$ 	34.5 	  	$ 	30.0 	  	1.2x 	  	NA 	  	
1/8/2004 	  	FAAC, Inc. 	  	Arotech Corp. 	  	$ 	14.0 	  	$ 	15.0 	  	0.9x 	  	NA 	  	
  	  	  	  	  	  	  	  	  	  	  	  	  	  	
  	  	  	  	  	  	  	  	Average 	  	1.2x 	  	10.5x 	  	
  	  	  	  	  	  	  	  	Median 	  	1.1x 	  	9.2x 	  	

  
Target 	  	Services Provided to the U.S. Federal Government (DoD, Intelligence, other) 	
  	  	  	
PEC Solutions, Inc. 	  	Secure, interoperable technology solutions 	
ComGlobal Systems, Incorporated 	  	Software and information technology firm providing C4I services to military and federal government agencies 	
SYTEX Group Inc. 	  	Technology engineering and systems integration, network security solutions, business management solutions 	
Integic Corporation 	  	Enterprise health and business process software solutions 	
OnBoard Software Inc. 	  	Technical development of hardware and software 	
Shenandoah Electronic Intelligence Inc. 	  	Records management, applications support, secure optical card processing 	
Windermere Group LLC 	  	Software development, advanced engineering design and information assurance 	
Sytel Inc. 	  	Network design and network security services, help desk support 	
Manufacturing Technology Inc. 	  	Product life cycle support for systems and electronics 	
RCI Holdings Corp. 	  	Systems engineering and HR business process management 	
Bridge Technology Corporation 	  	Program management, systems and software engineering 	
DigitalNet Holdings Inc. 	  	Networked infrastructure, information assurance solutions 	
AC Technologies Inc. 	  	Software engineering and network services primarily to non-security civilian federal agencies 	
Integrated Management Services, Inc. 	  	Information security / assurance, infrastructure security, enterprise IT architecture 	
Impact Innovations Group LLC (Gov division) 	  	Enterprise content management, application development, IT service management, information security 	
Simulation Technologies, Inc. 	  	Modeling and simulation software solutions and services 	
Command Technologies, Inc. 	  	Professional and technical services, information technology 	
EPOS Corp 	  	Interactive communications and transaction processing technologies 	
Integrated Information Technology Corp. 	  	Network and computer services, satellite communications, communication system engineering and installation 	
Beta Analytics International Inc. 	  	Security and intelligence data support 	
STI Government Systems 	  	IT systems and integration 	
AMS Defense & Intelligence Group 	  	IT support and software design for financial management, logistics, warfighting, intelligence 	
CMS Information Services, Inc 	  	Enterprise network solutions, enterprise financial management systems, software engineering and integration 	
Science & Engineering Associates, Inc. 	  	Advanced sensor development, spectral imaging, security solutions, system engineering and design 	
ORION Scientific Systems, Inc. 	  	Analytical support, system development, proprietary knowledge management 	
FAAC, Inc. 	  	Simulators, systems engineering and related software products 	

  
($ MM) 	  	LTM
Revenue 	  	EBITDA 	  	Margin 	  	Total
Debt 	  	Net
Debt 	  	Market
Cap 	  	TEV 	  	TEV /
Revenue 	  	TEV /
EBITDA 	  	
  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	
CACI International Inc. 	  	$ 	1,551.6 	  	$ 	177.3 	  	11.4 	% 	$ 	347.4 	  	$ 	284.1 	  	$ 	1,830.1 	  	$ 	2,114.2 	  	1.4x 	  	11.9x 	  	
Anteon International Corp. 	  	$ 	1,330.0 	  	$ 	117.3 	  	8.8 	% 	$ 	164.2 	  	$ 	129.0 	  	$ 	1,509.5 	  	$ 	1,638.6 	  	1.2x 	  	14.0x 	  	
Mantech International Corp. 	  	$ 	842.4 	  	$ 	48.2 	  	5.7 	% 	$ 	25.2 	  	$ 	2.2 	  	$ 	781.4 	  	$ 	783.7 	  	0.9x 	  	16.3x 	  	
SRA International Inc. 	  	$ 	755.5 	  	$ 	89.0 	  	11.8 	% 	$ 	0.0 	  	$ 	(180.3 	) 	$ 	1,728.3 	  	$ 	1,547.9 	  	2.0x 	  	17.4x 	  	
Cubic Corp. 	  	$ 	740.9 	  	$ 	57.8 	  	7.8 	% 	$ 	93.6 	  	$ 	77.3 	  	$ 	478.3 	  	$ 	555.6 	  	0.7x 	  	9.6x 	  	
MTC Technologies Inc. 	  	$ 	298.4 	  	$ 	35.7 	  	12.0 	% 	$ 	63.3 	  	$ 	63.3 	  	$ 	471.5 	  	$ 	534.8 	  	1.8x 	  	15.0x 	  	
SI International Inc. 	  	$ 	290.1 	  	$ 	21.8 	  	7.5 	% 	$ 	100.0 	  	$ 	87.7 	  	$ 	258.7 	  	$ 	346.3 	  	1.2x 	  	15.9x 	  	
Argon ST Inc. (1) 	  	$ 	206.4 	  	$ 	30.8 	  	14.9 	% 	$ 	0.2 	  	$ 	(42.2 	) 	$ 	557.0 	  	$ 	514.8 	  	2.5x 	  	16.7x 	  	
PEC Solutions Inc. 	  	$ 	202.7 	  	$ 	31.9 	  	15.7 	% 	$ 	0.0 	  	$ 	(29.4 	) 	$ 	422.2 	  	$ 	392.8 	  	1.9x 	  	12.3x 	  	
Analex Corp. (1) 	  	$ 	145.7 	  	$ 	15.0 	  	10.3 	% 	$ 	73.8 	  	$ 	73.2 	  	$ 	49.3 	  	$ 	122.5 	  	0.8x 	  	8.2x 	  	
Tier Technologies Inc. 	  	$ 	133.1 	  	$ 	7.1 	  	5.3 	% 	$ 	0.2 	  	$ 	(53.3 	) 	$ 	149.4 	  	$ 	96.1 	  	0.7x 	  	13.5x 	  	
  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	
  	  	  	  	  	  	  	  	  	  	  	  	  	  	Average 	  	1.4x 	  	13.7x 	  	
  	  	  	  	  	  	  	  	  	  	  	  	  	  	Median 	  	1.2x 	  	14.0x 	  	

(1) LTM figues are pro forma for significant material merger transactions in the LTM period.