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SCRA reports record-breaking results for 4th straight year

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Staff Report
colanews@scbiznews.com
Published Aug. 26, 2015

SCRA reported record-breaking results this week for the fiscal year 2015, bringing in annual revenues of $399 million and year-end total backlog of $1.02 billion.

Bill Mahoney head shot
Mahoney
Those totals represent the fourth consecutive year the statewide research and development nonprofit reported company-best numbers. Backlog is a combination of both funded and unfunded backlog, which is money remaining to be spent on SCRA contracts, and is an indicator of future revenue.

“SCRA hit $100 million in revenue in 2008, our 25th year of operation,” CEO Bill Mahoney said. “By our 30th year, revenue was at $200 million, and we rose to $399 million in 2015, our 32nd year of operation.

“I am pleased with this accelerating business trend, which enables us to incrementally reinvest into the state’s high-tech economy, fulfilling our economic development mission. My appreciation goes to our SCRA associates for successful execution this year, and I look forward to a productive year ahead.”

Year-over-year revenue growth was 140%, and operating earnings grew 130% based upon incremental reinvestment opportunities, the organization said. Year-over-year total backlog growth was 121%. Operating earnings, not including innovation center operations, stood at $4.4 million, a level representative of similar companies.

SCRA has forecasted a total economic output for the fiscal year 2015 within South Carolina above the $1.43 billion output in 2014 estimated by the University of South Carolina’s Moore School of Business.

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