DRC Announces Award of Food and Drug Administration Scientific Computing
-- $50M Ceiling Value Contract Awarded to High Performance Technologies,
-- Leverages Health IT Capabilities Supporting the FDA in Adopting Emerging
ANDOVER, Mass., Jan. 2, 2013 (GLOBE NEWSWIRE) -- Dynamics Research Corporation
(Nasdaq:DRCO), a leading provider of innovative management consulting,
engineering, science and technology solutions to federal and state
governments, today announced its wholly owned subsidiary, High Performance
Technologies, Inc., has been awarded a new contract from the Food and Drug
Administration (FDA) to provide scientific computing services. The single
award task order contract has a ceiling value of $50 million and a five year
period of performance, which began September 17, 2012.
Under the terms of the contract, DRC will provide a wide range of science and
engineering services to support the FDA in leveraging new technologies and
ensuring the necessary processing, storage and connectivity support needed to
achieve its scientific computing objectives. DRC will work closely with
researchers and scientific computing users to facilitate document
requirements, perform system analysis, and provide prototypes of new
"DRC's High Performance Technologies Group is at the forefront of cutting-edge
scientific computing best practices," said Jim Regan, DRC's chairman and chief
executive officer. "We are looking forward to providing our deep expertise in
high performance computing and systems engineering to support the FDA's
scientific computing needs related to its mission to enhance public health.
"This engagement represents a milestone achievement in the execution of our
growth strategy, advancing our federal healthcare market penetration. While we
already have a significant level of business at the Department of Veterans
Affairs and with the Military Health System, this new relationship with the
FDA establishes a strong presence for DRC within the Department of Health and
Human Services. We look forward to continuing to expand our business with
federal healthcare clients," added Regan.
About Dynamics Research Corporation
Dynamics Research Corporation (DRC) provides measurable performance
improvements for government customers through the delivery of innovative
management consulting, engineering, science and technology solutions. DRC
offers the capabilities of a large company and the responsiveness of a small
company, backed by a history of excellence and customer satisfaction. Founded
in 1955, DRC is a publicly held corporation (Nasdaq:DRCO) and maintains more
than 25 offices nationwide with major offices in Andover, Massachusetts and
the Washington, D.C. region.For more information please visit our website at
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 information.
Darrow Associates, Inc.
Duyen "Jen" Truong
Sage Communications (for DRC)
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