GSA Daily Staff Report
Published Sept. 3, 2010

The SCRA Thursday reported record revenues of more than $170 million for the 2010 fiscal year ending June 30.

Revenues were up 60% compared with fiscal year 2009. Total project backlog standing at $405 million set a new annual record for the company, up from $279 million the previous year, registering strong indications of continued steady, future growth.

At the end of FY 2010, multi-year total contract value comprised more than $1.4 billion.

SCRA’s affiliate, Advanced Technology International (ATI) achieved record revenues with the ramp-up of its Defense Ordnance Technology Consortium contract with its Center for Naval Shipbuilding Technologies program, growth of its Marine Corps R&D Test & Evaluation Program, and numerous renewals and add-on business from existing clients.

In addition, ATI achieved national recognition in FY 2010 when it was named by The Wall Street Journal as one of the Top 15 Winning Workplaces in the U.S. for its business practice excellence, training and employee development programs.

The SCRA also completed on-schedule and on-budget the construction and opening of two Innovation Centers: the SCRA MUSC Charleston Innovation Center, which opened in December 2009; and the SCRA USC Columbia Innovation Center, which opened in August. The third planned Center, The Clemson Innovation Center, remains on schedule and is set to open in the spring of 2011.

SCRA’s SC Launch program, which facilitates knowledge-based economic development in South Carolina, has continued to assist, help form and/or land more than 230 knowledge-based entities in South Carolina since its inception in 2006, providing both funding and services to more than 178. The Program has attracted more than $104M in private equity investment in South Carolina companies in this four-year period, a figure that rose from $71M the previous fiscal year.

“With upcoming changes likely occurring in national Defense budgets over the next two to three years, our future is not risk-free. Nonetheless, I remain cautiously optimistic about SCRA growth in FY 2011 and beyond. Multiple extensions and add-ons in FY 2010 tell us that our programs add significant value for our clients,” said Bill Mahoney, SCRA CEO.

SCRA’s operations have made a cumulative economic contribution of more than $13.7B to South Carolina, according to a University of South Carolina Moore School of Business study, details of which will be released later this fall.