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.
“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.