Dynamics Research Corp. , an Andover, Mass., information technology
outsourcer, has won a $9 million contract extension from the Colorado’s Department of Human Services.
Under the 18-month deal, DRC will support and maintain a statewide network with more than 4,000 users on a variety of client-server based systems.
Programs that run on the system include: the Colorado Child Youth and Families Trails application for automating social worker case tracking; a financial
management system for all Colorado counties; and a state benefits management system for welfare and other social assistance payments.
“We are delighted with this latest extension of our relationship with Colorado, and to be providing information technology support that is vital to the mission of these
human services programs,” said James P. Regan, DRC’s chairman, president and CEO.
Regan noted that work for state clients is an important growth market for the company, constituting 10 percent of DRC revenues last year.
Earlier this week, DRC reported an 80 percent jump in fourth-quarter earnings and a 4 percent rise in revenues. Profits totaled $1.8 million, or 21 cents a share,
compared with $1 million, or 13 cents a share a year earlier. Revenues edged to $51.6 million from $49.6 million.
Shares of DRCO were off 0.1985, or 1 percent, to 18.05 at midday. In the last 52 weeks, the issue has ranged from 8 to 20.91.
Analysts at USB Piper Jaffray initiated coverage of the company’s stock this morning with an “outperform” rating.
