JOHNSTOWN, Pa., June 13, 2012 /PRNewswire/ -- Concurrent Technologies Corporation (CTC) has been recognized for the fifth time as a Top 100 Government Contractor, making Washington Technology magazine's 2012 list. CTC has been named to previous Top 100 Government Contractor lists in 2007, 2008, 2010, and 2011. This year, CTC came in at number 81 on the list, up from 83 in 2011.
"For the fifth time in the past six years, CTC has been named as a company whose business models and strategies are evolving to meet the current economic environment while continuing to achieve our number one goal of satisfying our clients' needs," said Edward J. Sheehan, Jr., CTC's President and Chief Executive Officer.
In announcing the Top 100 Government Contractors, Washington Technology magazine acknowledges the unique and mounting challenges facing this group, concluding: "Contractors up and down the 2012 Top 100 face a market that might be the toughest in 20 years and one that in all likelihood will get worse before it gets better. A market experiencing overall growth is probably two years or more away."
Sheehan notes that despite the challenges, his company performed well in fiscal year 2011 and, like many of its counterparts, is working to enhance internal efficiencies and intensify technological innovation efforts to ensure continued future success.
"CTC ended fiscal year 2011 with a 19 percent increase in the number of new contracts as compared to the prior year," Sheehan says. "I agree with Washington Technology magazine that there are bright spots in the market such as cyber security and IT efficiency, and CTC is strong in these and other areas. We just completed an organizational alignment to be effective July 1, 2012 that will better enable CTC to focus on those targets of opportunity. We realigned our technical, programmatic, line management and business development activities to better focus on clients and technology and innovation, while continuing to enhance our brand in the marketplace."
The 2012 Top 100 Government Contractors list is based on an analysis of data from the Federal Procurement Data System–Next Generation. Companies are evaluated on how they solve customers' problems, support critical missions, decrease costs, and provide technology-rich products and services to the federal government. In selecting the data, Washington Technology's goal is to capture the range of technology work and mission expertise that contractors provide to the federal government. Visit http://washingtontechnology.com/toplists/top-100-lists/2012 for more information.
Concurrent Technologies Corporation (CTC) is an independent, nonprofit, applied scientific research and development professional services organization providing innovative management and technology-based solutions to government and industry. As a nonprofit 501(c)(3) organization, CTC's primary purpose and programs are to undertake applied scientific research and development activities that serve the public interest. For more information, visit www.ctc.com.
SOURCE Concurrent Technologies Corporation