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
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
Ixia (Nasdaq: XXIA) has announced that NoviFlow Inc.has deployed IxNetwork® to validate the company’s designs and accelerate the delivery of its proven, reliable products. Based in Montréal, NoviFlow Inc. supports network carriers, hyperscale data center operators, and enterprises seeking greater network control and flexibility, network scalability, and the capacity to handle extremely large numbers of flows, while maintaining maximum network performance. To meet these requirements, NoviFlow in...
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices 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 business opportuni...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...