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The contract and task order awards reflect a mix of new orders in DRC's target growth markets -- homeland security, health care, training/human capital, business transformation, information security, selected civilian agencies, and high-priority defense programs. Eighty-five percent of the third quarter wins were prime contract awards, reflecting the Company's direct access to customers with a broad portfolio of government and agency wide contracts.
"DRC is experiencing strong demand for our mission-critical technology management services and solutions, validated by another record level of prime contract new business wins during the always critical third quarter," said Jim Regan, DRC's chairman and chief executive officer. "We're pleased to see strong growth in the areas we have targeted for business expansion such as military medical health where we now have several task orders under the TRICARE TEAMS contract, the Department of Homeland Security where we continue to win new information security work under the EAGLE contract, and the Air Force unmanned air vehicle program where we won a key task order under the DoD Logistics Maintenance and Supply Support contract. Additionally, with several bids for new business submitted and awaiting award we are well positioned for additional project awards in the quarters to come."
DRC has reported twelve consecutive quarters of year-over-year earnings increases and plans to announce third quarter 2009 financial results after market close on October 27, 2009.
About Dynamics Research Corporation
Dynamics Research Corporation (DRC) provides measurable performance improvements for government customers through the delivery of innovative management consulting, engineering 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 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 information.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Dynamics Research Corporation
CONTACT: Darrow Associates, Inc. Investors: Chris Witty 646.438.9385 cwitty@darrowir.com Sage Communications Media: Duyen "Jen" Truong 703.584.5645 duyent@aboutsage.com
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