Contracts and strategic acquisition reflect Parsons focus on defence IT

14 August 2019

Defence cyber security and IT contracts helped Parsons Corporation to post a 10% year-on-year sales increase in the second quarter (Q2) of 2019, the US-based company announced on 13 August.

Parsons expects further defence-related growth after completing the acquisition of QRC Technologies on 31 July.

Revenues of USD990 million generated a 45% increase in adjusted EBITDA to USD76 million. Key contract wins in the three months ended 30 June included a USD147 million in follow-on work from the US Missile Defense Agency and more than USD140 million from the Force Research Laboratory, Army Cyber, National Geospatial-Intelligence Agency, and the Defense Threat Reduction Agency.

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