SCRA Announces Fiscal 2010 Year-End Results and Highlights
September 5, 2010
SCRA Delivers Record Revenues and Solid Accomplishments
COLUMBIA, SC – September 2, 2010 – SCRA today reported results for the 2010 fiscal year ended June 30th, 2010.Revenue for the year was a record at more than $170M, up 60% comparedwith fiscal year 2009. Total backlog at $405 million set a new annualrecord for the company, up from $279 million the previous year,registering strong indications of continued steady, future growth. Atthe end of FY 2010, multi-year total contract value comprised more than$1.4 billion.
SCRA’s affiliate, Advanced Technology International (ATI),achieved many noteworthy outcomes in FY 2010. ATI achieved recordrevenues with the ramp-up of its Defense Ordnance Technology Consortiumcontract, with the re-compete and win of its Center for NavalShipbuilding Technologies program, growth of its Marine Corps R&DTest & Evaluation Program, along with numerous renewals and add-onbusiness from existing clients. In addition, ATI achieved nationalrecognition in FY 2010 when it was named by The Wall Street Journal asone of the Top 15 Winning Workplaces in the U.S. for its businesspractice excellence, training and employee development programs.Additional recognition went to ATI Vice Chair Robert Kiggans last month when he was honored with an international leadership awardby the American Society of Mechanical Engineers at their internationalconference in Montreal.
In knowledge-based economic development, SCRA’s positive deliverablesincluded the on-schedule, on-budget construction and opening of twoInnovation Centers: the SCRA MUSC Charleston Innovation Center, whichopened in December, 2009; and the SCRA USC Columbia Innovation Center,which opened last month. The third planned Center, The ClemsonInnovation Center, remains on schedule and is set to open in the springof 2011.
SCRA’s SC Launch program,which facilitates knowledge-based economic development in SouthCarolina, has continued to assist, help form and/or land more than 230knowledge-based entities in South Carolina since its inception in 2006,providing both funding and services to more than 178. The Program hasattracted more than $104M in add-on, private equity investment in SouthCarolina companies in this four-year period, a figure that rose from$71M the previous fiscal year.
Also in FY 2010, SC Launch was recognized by Forbes magazine as one ofthe top five entrepreneurial support programs in the country, adding toprevious national and international recognition from the Southern GrowthPolicy Council, the State Science & Technology Institute and theInternational Economic Development Council.
With solid, long-term contracts and a significant backlog, our outlookremains positive given our strong financial position at the end of FY2010, said SCRA CFO Julia Martin. In FY 2010, we successfullyimplemented intensive, planned process improvements that are positivelyimpacting our line efficiencies and controlling our costs, said SCRACOO Greg Frank,who brings more than 25 years of industry strength and expertise inR&D leadership, management, and technology commercialization.
With upcoming changes likely occurring in national Defense budgets overthe next 2-3 years, our future is not risk-free. Nonetheless, I remaincautiously optimistic about SCRA growth in FY 2011 and beyond. Multipleextensions and add-ons in FY 2010 tell us that our programs addsignificant value for our clients, said Bill Mahoney, SCRA CEO.Additionally, our new chief operating officer, Greg Frank, has broughtgreater impetus to accelerate our business initiatives. Since joiningSCRA last September, Greg has continued the transformation of ourbusiness with his expertise in the industries we serve. And our healthypipeline of tenant prospects for our Innovation Centers will help usfulfill our mandates regarding knowledge-based economic development inSouth Carolina. SCRA’s operations have made a cumulative economiccontribution of more than $13.7B to South Carolina, according to aUniversity of South Carolina Moore School of Business study, details ofwhich will be released later this fall.
About SCRA
http://www.scra.org
SCRA is a global leader in applied research and commercializationservices with its headquarters in South Carolina. SCRA collaborates toadvance technology, providing knowledge-based solutions with assuredoutcomes to industry and government, with the help of researchuniversities in SC, the US and around the world.
About SC Launch
http://www.sclaunch.org
SC Launch, an SCRA program, assists entrepreneurial start-up companieswith up-front counseling, seed-funding, and access to a powerfulresource network. The SC Launch mission is to help generate knowledgeeconomy jobs in South Carolina, enhance the state’s quality of life andprovide opportunity for all South Carolinians in the new economy.
About Advanced Technology International
http://www.aticorp.org
Advanced Technology International builds global consortia to develop andimplement innovative solutions for manufacturing, aerospace,automotive, maritime, metals, and healthcare industries. ATI-ledcollaborations attract world-class talent from premier companies,universities, and government agencies, to define technology roadmaps andresearch portfolios matched to business demands that provide therequisite resources to solve shared challenges.
ATI’s partners report improved market transition and return oninvestment with reduced risk. These practical business benefits enablethe downstream economic and social benefits of the new technologies -such as safety, affordability, manufacturing competitiveness,environmental protection, and energy conservation. A private, non-profitresearch corporation with principal operations in Charleston, SC, ATIis an affiliate of SCRA.
