April 11, 2005
DYONYX President, Chuck Orrico, Profiled in Houston Business Journal
by Mary Ann Azevedo - Houston Business Journal
The following is an excerpt from the Houston Business Journal's article.
Tech transitions
IT outsourcing firm Dyonyx has successfully changed its focus - and its name - in response to a constantly evolving business climate
Not many companies can boast a connection to the White House - but Houston-based Dyonyx LP can.
The information technology outsourcing firm - which had counted British Airways among its largest clients prior to the 9/11 terrorist attacks - stumbled across the government niche after watching its revenue plummet by 60 percent in the wake of the attacks.
Realizing that the airline industry would soon dry up as a source of revenue, Dyonyx President and co-founder Chuck Orrico called on some family neighbors in his home state of Virginia who had government connections.
"This immediately gave us access to lucrative contracts," Orrico says. "And although it can cost a lot just to acquire government contracts, they are usually multiyear with recurring revenue."
Today, Dyonyx has deals with the U.S. Department of Homeland Security, the U.S. Army and the General Services Administration. The company is also working on a $6.5 million, five-year complete IT outsourcing contract with the Millennium Challenge Corp., a high-profile organization set up by the White House.
In May 2004, Dyonyx hit it big when it won a whopping three-year, $78 million contract to help the Department of Homeland Security with tech support and capturing the biometrics of all foreign visitors when they exit the country. Dyonyx is now faced with the task of staffing 90 airports and seaports around the country with around 900 people - a feat that Orrico says "is already proving to be a challenge."
The deal - along with more local wins such as contracts with the City of Houston, the Houston Police Department and Electric Reliability Council of Texas Inc. - helped give Dyonyx contract revenue of more than $100 million of new business for 2004 and gross revenue of $8.2 million. The company is predicting at least $16 million to $17 million in revenue for 2005.
Online Source: http://houston.bizjournals.com/houston/stories/2005/04/11/smallb1.html?jst=cn_cn_lk