LMI Reports $1.2B in FY19 Proposals; David Zolet Quoted

LMI has submitted $1.2 billion in proposals for contract awards and earned a revenue of $329 million in fiscal year 2019, representing respective increases of 39 percent and 24 percent from FY17.

The nonprofit government consulting firm said Wednesday it also established a venture capital fund and launched research and development initiatives to support its efforts to expand service offerings last year.

According to LMI’s recently released annual report, 58 percent and 24 percent of its customers in 2019 were from the defense and national security sectors, respectively.

The organization hired 680 new staff and expanded opportunities with the U.S. Postal Service, Border Patrol and Defense Logistics Agency in FY19.

David Zolet, LMI CEO and a 2019 Wash100 Award winner, said the organization plans to achieve $750M in revenue for the next phase of its LMI 2025 effort.

“Our organization has transformed profoundly over the past two years,” he noted. “I am immensely proud of our workforce for its continued focus on serving customers and improving the business of government.”

In 2019, LMI acquired science and engineering firm The Tauri Group as well as predictive analytics technology maker Clockwork Solutions. The organization also secured a chemical, biological, radiological and nuclear defense services contract following the acquisitions.