ANDOVER, Mass., Jan. 30, 2012 (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 that it was selected by the Air Force as one of 26 awardees of the Design and Engineering Support Program (DESP) III contract.
The indefinite-delivery, indefinite-quantity contract has a $1.9 billion ceiling and a basic 5-year ordering period with a 7-year period of performance. Under the terms of the contract, DRC will be providing a broad range of engineering services to support the Air Force and other Department of Defense commands.
"With $95 million of bookings on the predecessor DESP II contract, DRC was among the most used suppliers. The award of DESP III, along with our broad portfolio of agency and department-wide contracts enables us to continue to deepen our relationship with the Air Force and the Defense Department," said Jim Regan, DRC's chairman and chief executive officer. "We are pleased to participate in this leading-edge program and look forward to leveraging the full range of our engineering capabilities and thought leadership."
DRC will focus on improving system lifecycle cost, operational performance, and sustainment which includes maintainability and support, safety and environmental friendliness, and education and training.
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 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.