DRC Awarded $4 Million U.S. Air Force Unmanned Aerial System Contract
ANDOVER, Mass., Sept. 30, 2010 (GLOBE NEWSWIRE) -- Dynamics Research Corporation (Nasdaq:DRCO), a leading provider of innovative management consulting, engineering, and technology solutions, today announced that it won a $4.3 million task order contract with the Air Force Medium Altitude Unmanned Aerial System (UAS) program. The contract, which consolidates the efforts of several contractors, began on August 31, 2010 and has a period of performance of 5 months.
Under the terms of the contract, DRC is providing the UAS program office with program management, engineering, test and evaluation, foreign military sales, quality assurance, and logistics services. DRC has supported the evolutionary development and deployment of unmanned systems for many years, including the Joint Unmanned Combat Air System program beginning in 2003, the Global Hawk and Predator programs, and sensors used on unmanned vehicles.
"We are pleased to continue and expand our services supporting this critical Air Force program," said Jim Regan, DRC's chairman and chief executive officer. "Clearly, our expertise and capabilities in support of strategic Air Force programs are amongst the strongest in the industry."The task order was awarded under the Logistics Maintenance and Supply Support (LMSS) contract. DRC was one of six prime contractors awarded the LMSS contract to provide lifecycle management services across the Defense Department. 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.
CONTACT: Darrow Associates, Inc. Investors: Chris Witty 646.438.9385 firstname.lastname@example.org Sage Communications (for DRC) Media: Matt Warnock 703.207.0941 email@example.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV