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
"We focus on SAP workloads because they are among the most powerful but somewhat challenging workloads out there to take into public cloud," explained Swen Conrad, CEO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are still a relatively small software house and we are focusing on certain industries like FinTech, med tech, energy and utilities. We help our customers with their digital transformation," noted Piotr Stawinski, Founder and CEO of EARP Integration, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"I think DevOps is now a rambunctious teenager – it’s starting to get a mind of its own, wanting to get its own things but it still needs some adult supervision," explained Thomas Hooker, VP of marketing at CollabNet, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We've been engaging with a lot of customers including Panasonic, we've been involved with Cisco and now we're working with the U.S. government - the Department of Homeland Security," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, provided a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services with...
As enterprise cloud becomes the norm, businesses and government programs must address compounded regulatory compliance related to data privacy and information protection. The most recent, Controlled Unclassified Information and the EU’s GDPR have board level implications and companies still struggle with demonstrating due diligence. Developers and DevOps leaders, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by in...
"Peak 10 is a hybrid infrastructure provider across the nation. We are in the thick of things when it comes to hybrid IT," explained Michael Fuhrman, Chief Technology Officer at Peak 10, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze Sponsor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...
"We are an IT services solution provider and we sell software to support those solutions. Our focus and key areas are around security, enterprise monitoring, and continuous delivery optimization," noted John Balsavage, President of A&I Solutions, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We were founded in 2003 and the way we were founded was about good backup and good disaster recovery for our clients, and for the last 20 years we've been pretty consistent with that," noted Marc Malafronte, Territory Manager at StorageCraft, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
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,...
"We are focused on SAP running in the clouds, to make this super easy because we believe in the tremendous value of those powerful worlds - SAP and the cloud," explained Frank Stienhans, CTO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"DivvyCloud as a company set out to help customers automate solutions to the most common cloud problems," noted Jeremy Snyder, VP of Business Development at DivvyCloud, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.