SOURCE: TRC Companies, Inc.
LOWELL, MA--(Marketwired - Jan 14, 2014) - TRC Companies, Inc. (NYSE: TRR) has been awarded a $2.5 million contract by Central Hudson Gas & Electric Corp. to design, procure and build a broadband communications network that will improve the reliability of electric service in a test area within their Mid-Hudson service territory. The project will provide connectivity for a new distribution automation system and include the evaluation of Wide Area Network (WAN) technology.
"TRC is excited to provide innovative solutions to our long-term client Central Hudson Gas & Electric," said Chris Vincze, Chairman and Chief Executive Officer. "Our telecommunications engineers will help Central Hudson improve grid efficiency by providing real-time intelligence of system conditions; enhance integration of distributed resources; and defer costly system reinforcements."
The project will help prepare Central Hudson's energy networks for the application of new technologies to upgrade substations and improve utility operations.
During the project, TRC will perform permitting, engineering and construction, as well as data networking system design to provide security and redundancy of data. TRC will manage the purchase and installation of equipment throughout. The project is expected to be complete in spring 2015.
A pioneer in groundbreaking scientific and engineering developments since the 1960s, TRC is a national engineering, consulting and construction management firm that provides integrated services to the energy, environmental and infrastructure markets. TRC serves a broad range of clients in government and industry, implementing complex projects from initial concept to delivery and operation. TRC delivers results that enable clients to achieve success in a complex and changing world. For more information and updates from the Company, visit TRC's website at www.TRCsolutions.com and follow TRC on Twitter and StockTwits at @TRC_Companies and on LinkedIn.
Certain statements in this press release may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these statements by forward-looking words such as "may," "expects," "plans," "anticipates," "believes," "estimates," or other words of similar import. You should consider statements that contain these words carefully because they discuss TRC's future expectations, contain projections of the Company's future results of operations or of its financial condition, or state other "forward-looking" information. TRC believes that it is important to communicate its future expectations to its investors. However, there may be events in the future that the Company is not able to accurately predict or control and that may cause its actual results to differ materially from the expectations described in its forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, and actual results may differ materially from those discussed as a result of various factors, including, but not limited to, the uncertainty of TRC's operational and growth strategies; circumstances which could create large cash outflows, such as contract losses, litigation, uncollectible receivables and income tax assessments; regulatory uncertainty; the availability of funding for government projects; the level of demand for TRC's services; product acceptance; industry-wide competitive factors; the ability to continue to attract and retain highly skilled and qualified personnel; the availability and adequacy of insurance; and general political or economic conditions. Furthermore, market trends are subject to changes, which could adversely affect future results. See the risk factors and additional discussion in TRC's Annual Report on Form 10-K for the fiscal year ended June 30, 2013, Quarterly Reports on Form 10-Q, and other factors detailed from time to time in the Company's other filings with the Securities and Exchange Commission.