ANDOVER, Mass., March 7, 2011 (GLOBE NEWSWIRE) -- DRC (Nasdaq:DRCO), a leading provider of innovative management consulting, engineering, and information technology solutions to federal and state governments, announced that it was selected by the Internal Revenue Service as one of 33 awardees for the Department of Treasury's Total Information Processing Support Services Information Technology Services contract, known as TIPSS-4 ITS. The $4 billion ceiling, 10-year, indefinite-delivery, indefinite-quantity contract has a base year and nine, one-year options.
The TIPSS-4 contracts are the primary procurement vehicles for technology-related services within the IRS and other Treasury bureaus. DRC and other contract awardees will be providing support, which encompasses a large spectrum of services concerning local microcomputer applications to large-scale integrated legacy systems, and newly developed systems, as well as security services and program management.
"This is a very important milestone for DRC as we continue to grow our IT and project management solutions for financial and regulatory agencies," said Jim Regan, DRC's chairman and chief executive officer. "We are excited to bring forward our proven practices in IT and management services to ensure the IRS, the Treasury Department, and its bureaus have systems operating with efficiency and accuracy – a necessity at a time where every dollar counts for both the government and citizens."
The TIPSS-4 ITS contract is designed to provide the state of the art, modern technology services throughout the period of performance of the contract. DRC provides analyses, develops recommendations and implementation strategies, transitions large-scale systems and updates existing systems and procedures.
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 .
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: Investors: Chris Witty Darrow Associates, Inc. 646.438.9385 cwitty@darrowir.com Media: Duyen "Jen" Truong Sage Communications (for DRC) 703.584-5645 duyent@aboutsage.com