Dynamics Research awarded $36 million contract by state of Ohio.ANDOVER, Mass.--(BUSINESS WIRE)--Feb. 5, 1997--Dynamics Research Corp. (NASDAQ:DRCO) announced today that the Ohio Department of Human Services has awarded DRC a $36 million, fixed price contract to provide information technology products and services in support of the Ohio Child Support Enforcement Tracking System (SETS). The company expects revenue of approximately $24 million during the first year installation phase of the project. The remaining contract value represents support and maintenance services over a 6-year operational period. DRC and its subcontractors will provide computer hardware and software; management and coordination of site preparation and installation; ongoing support and maintenance; and local area network administration training. Ohio's Child Support program is a county administered, state supervised public assistance system serving more than 5 million clients with an estimated caseload volume of 1.2 million cases. Services under this agreement include information technology support to enable case workers to manage the caseload volume; collect payment data; and distribute support payments. SETS has approximately 4,400 users in 111 child support enforcement agencies in 88 counties throughout the state. In addition, approximately 172 county prosecutors and judicial sites will also be connected to the system. Wang laboratories, Inc.; Clover Communications, Inc.; UCR, Inc.; and Babbage-Simmel will serve as subcontractors. Founded in 1955, Dynamics Research Corporation develops and operates computer and communications-intensive information systems, provides engineering and management support services, and produces precision manufactured components for industrial measurement and control. The company has approximately 1,350 employees worldwide. -0- Safe harbor statement under the Private Securities Litigation Reform Act of 1995: Statements contained in this news release which are not historical fact, such as forward-looking statements concerning expected contract revenue involve uncertainty. Such statements are subject to various factors, including uncertainties regarding customer requirements and schedules and related funding, that could cause actual results to differ materially from those set forth in the forward looking statements. These factors are discussed in more detail in the Company's Annual Report on Form 10-K for the year ended Dec. 30, 1995. CONTACT: Douglas R. Potter 508-475-9090 Ext. 2174 |
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