Press Release
PRICE Systems' Advanced Affordability Management Solutions Fuel Company's Growth and Bright Outlook for the Future
MT. LAUREL, New Jersey - January 11, 2005 - PRICE Systems, world leader in providing Program Affordability Management solutions to government agencies, defense programs and commercial organizations, attributes their solid growth to sound management and synergy between their state-of-the-art cost estimating technologies and advanced consulting solutions.
"PRICE Systems has sustained steady, profitable revenue growth since our management buy-out in June of 1998," said Anthony DeMarco, President and Managing Member of PRICE Systems. "Our financial statements for the past three years have been audited or reviewed by Parente Randolph one of the top 30 certified public accounting firms in the country and the largest independently owned firm in Pennsylvania," added DeMarco.
Since inception, PRICE has realized double-digit compound annual revenue growth and its software-licensing base has steadily grown by an impressive $1+ million per year. The company continues to build upon their past success and plans to invest in their project control tools and methodologies to introduce new solutions to the marketplace.
In 1998 PRICE Systems was one of Commerce Bank's first ventures into the technology business world. "Commerce is proud to play a vital role in establishing PRICE's financial stature and assisting them with the business economics needed for success. From 1998 to 2004, PRICE has either met or exceeded all banking covenants and expectations," stated Robert D. Falese, Executive Vice President of Commerce Bank.
PRICE Systems has shown tremendous progress in its commitment to providing Program Affordability Management solutions by building a strong suite of cost estimating tools and an extensive consulting business.
In 2004, PRICE Systems achieved five new client wins in the Federal Civilian market and expanded their software licensing in the current Aerospace and Defense market. With the launch of their latest cost-estimating suite, TruePlanning™, the company is poised to accelerate growth in the Federal marketplace.
"TruePlanning is designed to help project planners dramatically improve the estimating, forecasting and management of complex software, information technology and weapon system projects," said DeMarco.
Along with their latest technology, PRICE's consulting business brings implementation experience and best practices in program control methods. The combination of technology, consulting and compliance allows an organization to establish Program Affordability Management Centers of Excellence.
"Our mission is to make sure no Federal Program is deterred from accomplishing their goals due to failures of Program Affordability Management. We believe that we can successfully achieve our mission while making further investments in our tools and services," stated DeMarco.
About PRICE Systems
PRICE Systems, the world leader in Program Affordability Management solutions, enables government agencies, defense programs and commercial organizations to successfully select, control and deliver large-scale, complex and high-visibility projects. The company offers cost estimating, cost analysis and knowledge capture tools, combined with expert consulting in cost estimating, and project control methods and best practices, to help customers better control costs and schedules throughout a project's lifecycle, ensuring program affordability. Established in 1975 with offices in the United States, Europe and Asia-Pacific, PRICE Systems serves more than 250 customers worldwide. More than 10,000 project professionals have been trained in the company's cost estimating and analysis methodologies.
Contact Information
Vincent Ferrara
PRICE Systems, LLC
1.856.813.2757
Vincent.Ferrara@PRICESystems.com
