Southwest Research Institute® (SwRI®) News
Printer Friendly VersionSwRI reports financial figures for fiscal year 1997
Total revenues reach $270 million
San Antonio -- November 24, 1997 -- Southwest Research Institute® (SwRI®) reported total revenues of $270 million for fiscal year 1997, an $11 million increase from the previous year.
Operating income for the year ending September 26, 1997, totaled $115 million, and net income for the year was $7.4 million, said J. Dan Bates, SwRI President. SwRI operating income for fiscal year 1996 was $113 million, with net income of $10.1 million.
Bates' report was presented November 24 at the 50th Annual Trustees Meeting.
SwRI, an independent, nonprofit organization, specializes in the creation and transfer of technology in engineering and the physical sciences and performs contract research for commercial and government clients worldwide. Bates reported that revenues from government clients increased by $15 million, to $136 million. That level was about even with revenue from commercial clients of $135 million, which declined by $5 million compared to fiscal year 1996.
Bates told the more than 150 trustees, directors, and officers assembled at the Institute that SwRI's backlog of signed contracts for the new year stood at $323 million, compared to $211 million for the previous fiscal year.
"The Institute's prospects for fiscal year 1998 are bright," Bates said. "SwRI remains fundamentally sound and is poised to continue to thrive in an ever-changing environment," he said.
Institute payroll was $116 million in fiscal year 1997. Expenditures for laboratory equipment, new construction, and other capital items amounted to $13.6 million. The Institute's net worth at the close of fiscal year 1997 was $146 million. Total assets at the end of fiscal year 1997 were $233 million, an increase of $11.5 million from a year ago.
Related press release: Southwest
Research Institute posts record income gain
For more information about SwRI's fiscal year 1997, contact Joe Fohn, Communications Department, Southwest Research Institute, P.O. Drawer 28510, San Antonio, Texas 78228-0510, Phone (210) 522-4630, Fax (210) 522-3547.
