Midwest Research Institute Announces Record Third Quarter Revenues

KANSAS CITY, Mo., May 17 /PRNewswire/ -- Midwest Research Institute (MRI), one of the nation's leading independent research organizations, today announced its most successful third quarter in the company's 66-year history.  MRI, a not-for-profit organization, reported its Research Operations Q3 revenue is $29.5M, an increase of 52% over the same period last year.  MRI's year-to-date Research Operations revenue is $77.5M, up 31% over the same time last year.

This revenue stream is in addition to the more than $400M in annual funding under MRI's management as partner in and chair of the Alliance for Sustainable Energy which manages and operates the Department of Energy National Renewable Energy Laboratory (NREL) in Golden, Co.

Following a comprehensive strategic planning effort designed to enhance productivity and accelerate growth, MRI has experienced strong sales in all of its business segments, including National Security & Defense, Energy & Environment, Life Sciences, Agriculture & Food Safety, and Transportation.

This unprecedented MRI business growth has also resulted in a record number of new hires in Q3 across all business segments.  The majority of the new hires have been engineers, chemists and scientists.  In fact, advanced degrees are held by approximately 30% of these new MRI employees.  MRI is hiring at all job levels with a broad spectrum of requirements, in all areas of the business.

"We are pleased to see that the targeted investments we have made in expertise and capabilities in recent years are aligned with the needs of our clients," said Midwest Research Institute president and CEO Michael Helmstetter.  "The rollout of our new strategic plan in late 2009 with its associated evolution of our business development strategies is paying off.  MRI's solid record of delivering results in the federal and commercial markets makes us a logical choice for clients who are making careful spending decisions in these challenging economic times."

MRI has recently been awarded several significant federal contracts including a U.S. Department of Defense award to provide CBRNE—chemical, biological, radiological, nuclear, and explosive—support services.  CBRNE expertise is vital to national defense against chemical and biological warfare and terrorism.  MRI's contract is one of multiple awards made with an aggregate value of $485 million.  

"MRI has and continues to play a critical role in our national security and defense and in the protection of our troops on the battlefield," said retired General Richard Myers (USAF), former Chairman of the Joint Chiefs of Staff and MRI Board member. "MRI's success in identifying challenges and realizing solutions to our nation's critical problems is to be commended."

MRI's strategic plan emphasizes the pursuit of new business opportunities where MRI can put its significant experience into play as a prime contractor providing vertically integrated solutions including program management, systems solutions, and delivery of advanced science and engineering services.

"In order to win new business as a prime contractor, we have spent the past several years attracting the best science and technology program managers in the industry," said Helmstetter.  "MRI's breadth of expertise and depth of talent in project management of innovative technical solutions programs have significantly impacted our business growth."

About Midwest Research Institute

Midwest Research Institute (MRI), a not-for-profit scientific research organization with nearly 2,700 employees under management nationwide, performs contract research and laboratory consulting services for clients in government, industry, and academia.  Established in 1944, MRI is one of the nation's leading independent research institutes, conducting research in the areas of national security and defense, energy and environment, life sciences, food and agriculture, and transportation safety.  With headquarters in Kansas City, Mo., MRI also has operations in Colorado, Florida, Kansas, Maryland, North Carolina, Pennsylvania, Virginia Washington, DC and West Virginia.

MRI is a partner in and chair of the Alliance for Sustainable Energy, LLC, which manages and operates the National Renewable Energy Laboratory (NREL) in Golden, Colo., for the U.S. Department of Energy.  

For more information, visit www.mriresearch.org

SOURCE Midwest Research Institute