Published Aug. 25, 2014
SCRA brought in $285 million in fiscal year 2014, up 7% from the year prior, the agency reported.
SCRA also reported a record year-end total backlog of $841 million, up 58%. Operating earnings, excluding innovation center operations, were $3.3 million for the fiscal year ended June 30.
“This past year was very strong for SCRA,” CEO Bill Mahoney said in a statement. “We executed well, and our performance gives us momentum for sustained growth in fiscal year 2015.”
During the year, SCRA Applied R&D received contract awards including a contract to lead the national Vertical Lift Consortium, and it was selected as consortia manager for the $70 million Digital Manufacturing and Design Innovation Institute based in Chicago.
Since its inception in 2006, the SC Launch program has helped form or land more than 290 early stage knowledge-economy enterprises in the state, according to a news release.
“This year marked the best in SCRA’s 32-year history,” CFO Julia Martin said in a statement. “With new contract wins, record revenues and backlog and hitting $2.8 billion in contract value under management, our outlook remains positive for the upcoming fiscal year.”