Welcome!

News Feed Item

SCRA Releases Record Annual Results

SCRA today reported results for Fiscal Year (FY) 2014, which ended on June 30, 2014. The Fiscal Year marked the best in SCRA’s history, with annual record revenues of $285 million and record year-end total backlog of $841 million. Year-over-year revenue growth was 7 percent overall, while operating revenue (excluding an FY13 extraordinary property sale to Boeing) grew 17 percent. Year-over-year backlog growth was 58%. FY14 operating earnings, excluding innovation center operations, were $3.3 million, representative for non-profit R&D companies, and which SCRA re-invests in its public mission. The record-breaking numbers, SCRA’s strongest annual performance to date, project robust, sustained business and continued execution of SCRA’s economic development mission.

SCRA’s Applied R&D affiliate realized steady revenues and received numerous contract awards and extensions throughout the year. Highlights included: selection as consortia manager for the $70 million Digital Manufacturing and Design Innovation Institute; a contract win to lead the national Vertical Lift (helicopter) Consortium and the ongoing expansion of the National Armaments Consortium contract.

SCRA‘s Technology Ventures sector and its SC Launch program continued to show positive investment and economic development outcomes throughout the year. SCRA continued its mission to grow high-tech start-ups in South Carolina by making 10 investments worth over $2.2 million throughout the year. Since its 2006 inception, the SC Launch program has helped form or land over 290 early-stage, knowledge-economy enterprises in S.C. Through direct investment of $19 million in the top 71 of those entities, SCRA has helped them attract over $301 million in add-on, private investment. SCRA Technology Ventures also supported three new life-sciences company relocations to South Carolina and assisted in emerging technology transfer and intellectual property commercialization from the State’s three research universities.

According to third-party economic studies, SCRA has made a cumulative contribution of more than $16.6 billion to South Carolina’s economy throughout the past 32 years, fulfilling its public charter by helping create over 15,000 technology-based jobs in S.C., with annual per capita wages between $55,000 and $77,000.

"This year marked the best in SCRA’s 32 year history," said SCRA CFO Julia Martin. “With new contract wins, record revenues and backlog and hitting $2.8 billion in contract value under management, our outlook remains positive for the upcoming Fiscal Year.”

"This past year was very strong for SCRA,” said SCRA CEO Bill Mahoney. “We executed well, and our performance gives us momentum for sustained growth in Fiscal Year 2015. SCRA Applied R&D programs continue to add value to our government and industry clients. SCRA’s Technology Ventures sector and its SC Launch program continue to generate returns, which are re-invested to incrementally grow South Carolina’s Knowledge Economy. I look forward to a successful year ahead.”

About SCRA

http://www.scra.org/

SCRA is an applied research corporation with over 30 years of experience delivering technology solutions with high returns on investment to federal and corporate clients. To fulfill our mission, SCRA has three sectors: Our Technology Ventures sector has helped over 290 early-stage companies to commercialize innovations and create jobs, our Applied R&D sector manages over 100 national and international programs worth over $2.8 billion in contract value, and our R&D Facilities sector builds and manages research facilities that include wet labs, secure rooms for sensitive work and advanced, high-tech manufacturing shops. Multiple economic impact studies show SCRA’s cumulative output into South Carolina’s economy to be over $16.6 billion.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams. In his session at 22nd Cloud Expo | DXWorld Expo, Daniel Jones, CTO of EngineerBetter, will answer: How can we improve willpower and decrease technical debt? Is the present bias real? How can we turn it to our advantage? Can you increase a team’s effective IQ? How do DevOps & Product Teams increase empathy, and what impact does empath...
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to close th...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that's no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, explored how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He expla...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
"Digital transformation - what we knew about it in the past has been redefined. Automation is going to play such a huge role in that because the culture, the technology, and the business operations are being shifted now," stated Brian Boeggeman, VP of Alliances & Partnerships at Ayehu, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
You know you need the cloud, but you're hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You're looking at private cloud solutions based on hyperconverged infrastructure, but you're concerned with the limits inherent in those technologies. What do you do?
"I focus on what we are calling CAST Highlight, which is our SaaS application portfolio analysis tool. It is an extremely lightweight tool that can integrate with pretty much any build process right now," explained Andrew Siegmund, Application Migration Specialist for CAST, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
"We started a Master of Science in business analytics - that's the hot topic. We serve the business community around San Francisco so we educate the working professionals and this is where they all want to be," explained Judy Lee, Associate Professor and Department Chair at Golden Gate University, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...