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Tuesday, May 13, 2008

DRC draws in $268M defense systems deal

Dynamics Research Corp. reports it has landed a contract potentially worth $268 million from the U.S. Department of Defense.

Under the contract, which has one base year with four one-year options, Dynamics Research (Nasdaq: DRCO) will provide life cycle systems management for the Department of Defense's logistics, maintenance and supply support function, including the planning, implementation, execution and retirement of business processes and systems.

In April, the Andover-based company won a $25.5 million contract from the state of Tennessee to develop an automated child welfare information system. It also won a $12.2 million contract for IT consulting on the U.S. Air Force's automated food management information system. Dynamics Research also pulled in $2.3 million to develop a training course for the U.S. Army's Armor School and Center Directorate of Training, Doctrine and Combat Development.

Dynamics Research reported a 2007 net income of $7.1 million on revenue of $229.6 million.

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