DRC Awarded $80 Million in New Business Contracts in Q3 2010
14 Outubro 2010 - 12:02PM
Dynamics Research Corporation (Nasdaq:DRCO), a leading provider of
innovative management consulting, engineering, and technology
solutions to federal and state governments, today reported that it
received during the quarter ended September 30, 2010 new business
contract awards having an estimated total value of $80 million. For
2010, year-to-date new business contract awards now stand at $142
million. The Company also reported that its current backlog of
bids for new business, which have been submitted and are awaiting
award, currently totals approximately $343 million, more than
double at the same time a year ago.
The contract and task order awards reflect a mix of new orders
in DRC's target growth markets – homeland security, health care,
training/human capital, business transformation, information
security, selected civilian agencies, and high-priority defense
programs. Eighty-four percent of the third quarter wins were
prime contract awards, reflecting the Company's direct access to
customers with a broad portfolio of government and agency wide
contracts. The contract wins for the quarter include a 4 year $12.5
million award for enterprise architecture services with the
Department of Homeland Security Office of the Chief Information
Officer, which has been protested.
With a strong backlog of bids awaiting award the Company expects
new business awards for the calendar year 2010 to be in the
vicinity of the $162 million posted for 2009.
"DRC is experiencing strong demand for our mission-critical
technology management services and solutions, validated by another
record level of prime contract new business wins in the third
quarter," said Jim Regan, DRC's chairman and chief executive
officer. "We're pleased to see strong growth in the areas we
have targeted for business expansion such as military medical
health, the Department of Homeland Security where we continue to
win new information architecture and security work under the EAGLE
contract, and the Air Force unmanned air vehicle program where we
have won another key task order under the DoD Logistics Maintenance
and Supply Support contract. Having several significant new
business bids submitted and awaiting award, we are well positioned
for additional project awards in the quarters to come."
DRC has reported sixteen consecutive quarters of year-over-year
earnings increases and plans to announce third quarter 2010
financial results after market close on October 27, 2010.
About Dynamics Research Corporation
Dynamics Research Corporation (DRC) provides measurable
performance improvements for government customers through the
delivery of innovative management consulting, engineering and
technology solutions. DRC offers the capabilities of a large
company and the responsiveness of a small company, backed by a
history of excellence and customer satisfaction. Founded in
1955, DRC is a publicly held corporation (Nasdaq:DRCO) and
maintains more than 25 offices nationwide with major offices in
Andover, Massachusetts and the Washington, D.C. region. For
more information please visit our website at www.drc.com.
Safe harbor statements under the Private Securities Litigation
Reform Act of 1995: Some statements contained or implied in this
news release, may be considered forward-looking statements, which
by their nature are uncertain. Consequently, actual results could
materially differ. For more detailed information concerning how
risks and uncertainties could affect the company's financial
results, please refer to DRC's most recent filings with the SEC.
The company assumes no obligation to update any forward-looking
information.
CONTACT: Darrow Associates, Inc.
Investors:
Chris Witty
646.438.9385
cwitty@darrowir.com
Sage Communications (for DRC)
Media:
Matt Warnock
703.207.0941
mattw@aboutsage.com
Dynamics Research Corp. (MM) (NASDAQ:DRCO)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Dynamics Research Corp. (MM) (NASDAQ:DRCO)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024