Staff Report
Published Sept. 3, 2010

SCRA reported Thursday it had record revenues for the 2010 fiscal year, which ended June 30. At more than $170 million, revenues were up 60% compared with fiscal 2009.

Total project backlog, standing at $405 million, set an annual record for the company, up from $279 million the previous year, registering strong indications of continued steady, future growth.

At the end of fiscal 2010, multiyear total contract value constituted more than $1.4 billion.

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

In addition, ATI was named by The Wall Street Journal as one of the Top 15 Winning Workplaces in the United States for business practice excellence, training and employee development programs.

According to a news release announcing the year-end results, SCRA also was on-schedule and on-budget with 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 SCRA Clemson Innovation Center, remains on schedule and is set to open in the spring of 2011.

SC Launch, an SCRA program that facilitates knowledge-based economic development in South Carolina, has assisted, helped form or helped land more than 230 knowledge-based entities in South Carolina since its inception in 2006, providing funding and services to more than 178. The program has attracted more than $104 million in private equity investment in S.C. companies in this four-year period, a figure that rose from $71 million 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, CEO of SCRA.

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.