ANDOVER, Mass., May 16, 2013 (GLOBE NEWSWIRE) -- Dynamics Research Corporation (Nasdaq:DRCO), a leading technology and management consulting company focused on driving performance, process and results for government clients, today reported that the Department of Veterans Affairs (VA), through the General Services Administration, has exercised the third option year of the Veterans Relationship Management Portfolio Monitoring and Coordination contract extending the period of performance through May 10, 2014. The contract, which was awarded to DRC's wholly owned subsidiary, High Performance Technologies, Inc., in May 2010, has a 5-year period of performance through May 2015, and a total contract value of $125.5 million.
Veterans Relationship Management is a multi-year initiative restarting previously troubled programs with the goal of delivering fast, accurate, and easily accessible healthcare information and benefits to Veterans, Service members and eligible beneficiaries. DRC provides the full range of program and portfolio management services across 30+ projects delivering the next generation of Veteran-centric IT solutions. These solutions including identity management, advanced voice-recognition tools, enhanced web self-services tools, and integrated desktop interfaces.
DRC provides program architecture, program planning and management, requirements analysis, IV&V, and life cycle engineering to create an IT system that allows Veteran's to access the VA through multiple methods, find information about VA's benefits and services through a uniform interface, and complete multiple business processes within VA without having to re-enter identifying information.About Dynamics Research Corporation Dynamics Research Corporation (DRC) provides technology and management consulting solutions focused on driving performance, process and results for government clients. DRC offers innovative solutions and delivers rock solid results. DRC has large company capabilities and small company agility. 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 . Certain statements contained in this news release, which are not historical facts or are related to future plans, events, revenues and earnings expectations, objectives and outlooks are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and, by their nature, are uncertain and subject to a number of risks and uncertainties that could adversely affect the Company's results. We can provide no assurance that these statements will prove to be correct. Consequently, actual results could materially differ from these statements. For more detailed information concerning how these risks and uncertainties could affect the Company's financial results, please refer to DRC's most recent forms 10-K and 10-Q and other documents filed with the Securities and Exchange Commission. Further, the Company is under no duty or obligation to update or revise any forward looking statements as a result of events or new information.
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