ANDOVER, Mass., May 27, 2009 (GLOBE NEWSWIRE) -- Dynamics Research Corporation (Nasdaq:DRCO), a leading provider of innovative management consulting, engineering, and information technology services and solutions to federal and state governments, today announced that it has received a contract with an estimated ceiling value of $7 million from the United States Department of Agriculture (USDA) to provide acquisition support services to the Forest Service. The contract has a one-year base performance period and three one-year options.
The blanket purchase agreement awarded to DRC was part of the $1.5 billion in Federal funds allocated to USDA to help create nearly 30,000 American jobs through the American Recovery and Reinvestment Act (ARRA). This money will help achieve land management objectives through funding of major Forest Service projects. Under the terms of the contract, DRC is tasked with providing acquisition support to aid the distribution of funds to Forest Service infrastructure projects.
"We are pleased to be among the first companies to aid the Administration on the Economic Recovery Program," said Jim Regan, DRC's chairman and chief executive officer. "DRC will help the Forest Service meet the challenges posed by the American Recovery and Reinvestment Act and achieve mission objectives while setting a new standard for governance and good stewardship of federal spending."
DRC will provide pre-award and post-award acquisition support to Forest Service regions for emerging task orders including aid during the strategy and planning, solicitation and development and award and execution stages. DRC will drive the acquisition support lifecycle by assessing acquisition needs, developing plans of action and ensuring Forest Service is meeting requirements and tracking progress. This support will help USDA meet the challenges facing the Service by improving acquisition management operations and processes.
About Dynamics Research Corporation
Dynamics Research Corporation (DRC) provides measurable performance improvements for government customers through the delivery of innovative information technology, engineering and management consulting 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.