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SCRA Announces Fiscal 2009 Year-End Results and Highlights; Operating revenue $108 million

Submitted by: Jill Hirsekorn on Oct 15, 2009 at 2:27 pm Tagged with: FY 2009 Year-End Results, SCRA Source: SCRA

FOR IMMEDIATE RELEASE
For more information please contact:
SCRA
Jill Hirsekorn
843.760.3329
jill.hirsekorn@scra.org
SCRA Announces Fiscal 2009 Year-End Results and Highlights
Company Delivers Record Backlog and Solid Accomplishments

Charleston, SC – October 15, 2009 – SCRA today reported results for the 2009 fiscal year ended June 30, 2009. Operating revenue for the year was more than $108 million, for a five-year top line revenue growth rate of just under 10%, up from $78 million in FY 2005. Total backlog at $279 million set a new annual record for the company, up from $148 million the previous year, registering strong indications of continued, steady, future growth. At the end of FY 2009, SCRA was responsible for 114 national and international programs, with more than 700 total subcontractors, comprising a multi-year total contract value of more than $1.3 billion at the start of FY 2010.
“In light of flat to declining federal and corporate R&D funding and with a change in presidential administrations, we expected an essentially flat year over year top line in FY 2009,” said Bill Mahoney, SCRA CEO. “We remain cautiously optimistic that our domain expertise, technical delivery track record and consistent returns on program investment will sustain our growth and share headway in our target markets for our clients, partners and stakeholders.”
SCRA’s affiliate, ATI, achieved many noteworthy outcomes in FY 2009. ATI achieved record revenues and secured several new multi-year, multi-million dollar contracts in ordnance and maritime technologies. SCRA formed a number of new systems and technology subject matter expert agreements under the GSA schedule in FY 2009, which is generating incremental revenues and improved margins in FY 2010. In advanced materials applications, renewed growth and performance were achieved by both expanding military test and evaluation business and increasing revenues from existing clients.
In knowledge-based economic development, SCRA’s SC Launch program has provided formation support to more than 260 start-up companies over the last three years. Those startups have secured more than $71 million in follow-on private equity and venture investments.
Other SCRA-supported programs recorded outstanding business achievements, notably SC EPSCoR/IDeA. The Experimental Program to Stimulate Competitive Research (EPSCoR) and Institutional Development Awards (IDeA) are federal-state-university partnerships designed to increase extramural research support for those states who have historically received low levels of federal R&D funds. SC EPSCoR/IDeA captured a record-breaking National Science Foundation award in FY 2009. Additionally, the Alternative Energy Commercial Center of Excellence program, slated as a regional and national leader, recorded outstanding business achievements. Execution for three Innovation Center deployments significantly advanced in 2009, continuing fulfillment of the SC Innovation Centers Act.
“Looking forward, we are examining our operating processes to ensure that we are achieving our strategic objectives, with our primary focus toward continued, repeated growth and increased value for our clients,” said Julia Martin, SCRA CFO. “Again this year, our strong backlog position at the end of FY 2009 gives us an optimistic view about our growth pattern for FY 2010.”
“Throughout FY 2009, SCRA continued to compete successfully and globally in high quality, applied research and commercialization services markets, as well as meet or exceed our knowledge-based economic development mandates in South Carolina,” Mahoney said. “These outcomes are a testament to the competency and diligence of the entire company, from our front-line associates to our senior management.”
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About SCRA
SCRA is a global leader in applied research and commercialization services with offices in South Carolina, Ohio and in the Washington, D.C. area. SCRA collaborates to advance technology, providing technology-based solutions with assured outcomes on behalf of industry, government, and research universities in SC, the US and globally.