Dynamics Research Corporation Wins $34 Million USAF Electronic Systems Center Contract.
Dynamics Research Corporation (Nasdaq:DRCO) today announced it was selected to receive a five-year prime contract with an estimated value of $34 million to provide advisory and assistance services support to the U.S. Air Force's Joint Surveillance Target Attack Radar System (JSTARS) program office. The contract, which begins August 1, 2002, includes an eight-month base period award of approximately $4.3 million and four one-year renewal options. DRC currently supports the program as a subcontractor, with approximately $1.3 million in annual revenue.
The Electronic Systems Center (ESC), headquartered at Hanscom Air Force Base in Bedford, Massachusetts, is responsible for the development, acquisition and support of Air Force command and control systems such as JSTARS. DRC is one of the largest suppliers under ESC's information technology services program--evaluating system requirements, providing software development and test services, integrating products into airborne and ground weapons systems and providing management services for ESC program offices.
"We are pleased to continue supporting the Electronic Systems Center in this critical program, which is expected to play an important role in the transformation of the United States military forces. This selection expands our long-term relationship with a valued customer and reaffirms the confidence placed in DRC over many years of service," said James P. Regan, DRC chairman and chief executive officer.
About Dynamics Research Corporation
Dynamics Research Corporation is an innovative solutions provider that partners with its customers in government and commercial sectors to apply proven processes and technologies. DRC delivers engineering, logistics, and information technology services and precision manufactured products that enhance the performance and cost effectiveness of its customers' mission critical systems. A member of the Russell 2000, DRC has more than 1,500 employees working in 30 offices around the U.S. For additional information about DRC, please visit the website at www.drc.com.
Safe harbor statements under the Private Securities Litigation Reform Act of 1995: Some statements contained or implied in this news release, may be considered forward-looking statements, which by their nature are uncertain. Consequently, actual results could materially differ. For more detailed information concerning how risks and uncertainties could affect the company's financial results, please refer to DRC's most recent filings with the SEC. The company assumes no obligation to update any forward-looking statements.