SCRA, a self-sustaining nonprofit applied R&D company that grows the technology-based economy in South Carolina by commercializing intellectual property and supporting and making investments in early stage companies, has reported its unaudited results for fiscal year 2015 (FY15) that ended June 30.
Those results indicate this past year was the best in the company's history, and include such record-breaking occurrences as annual revenues of $399 million and a year-end total backlog of $1.02 billion.
Additionally, year-over-year revenue growth was 140 percent, while operating earnings grew 130 percent based upon incremental re-investment opportunities. Year-over-year backlog growth was 121 percent. FY15 operating earnings, excluding innovation center operations, stood at $4.4 million, a level representative for nonprofit R&D companies.
This was the fourth year in a row SCRA's business operations numbers were record-breaking.
The results also cite SCRA's dedication to its public mission to South Carolina, including highlights of the formation and landing of 313 technology start-ups in the state. Some 214 of those remain operational; there's been $21.6 million in direct investments in the top 82 startups; SCRA-supported companies have captured $362.7 million in additional private investments; and in the group of operational companies, over 1,000 wage-compensated jobs have been created with average annual per capita wages of $69,000.
SCRA has generated and deployed over $100 million in direct investments, infrastructure and support services to advance South Carolina’s high-tech industries.
“SCRA hit $100 million in revenue in 2008, our 25th year of operation,” SCRA Chief Executive Officer Bill Mahoney said. “By our 30th year of operation, revenue was at $200 million, and we rose to $399 million in revenue 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."
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