This has been an extraordinary year for LMI. I am immensely proud of our LMIers and their dedication to continually improving our organization, bringing game-changing insights that achieve our customers’ missions and showing up for each other every day.
Chartered in 1961 to improve the operations of government, LMI remains that same purpose-driven organization. Today, LMI is powering smarter government decision-making with data-driven analysis, objective advice and independent research. As our customers’ needs and the market evolve, so must LMI.
Over the last two years, LMI has undergone a top-to-bottom transformation to focus and streamline the organization. We have sharpened our market strategy and defined distinct service lines and offerings, aligned our corporate functions for seamless support, implemented a disciplined business development capability and expanded career opportunities for our employees.
The benefits of our transformation have been immediate and compelling. In FY19, we increased revenue by 24%. We successfully defended over $170 million in recompete opportunities and submitted $1.2 billion in new business proposals, demonstrating our ability to bring new solutions to our clients and grow our business while affording LMIers opportunities for career development.
At LMI, our values—leadership, mission focus, and innovation—define who we are, distinguish our culture, and are rooted in our work each day. With that in mind, our acquisition of The Tauri Group, a government contracting firm confronting national and homeland security challenges, became a natural, seamlessly integrated extension of our culture. We have seen synergy from this acquisition through the addition of $800 million in new opportunities to our combined new business pipeline. And we are not done yet.
As we look to FY20, we have three key priorities:
Continue delivering excellent service to our customers while investing in and developing offerings and solutions to help them solve their toughest challenges.
Establish LMI as an employer of choice with exceptional development opportunities, collaborative work environment and a culture of diversity and inclusion.
Invest in the internal systems that enable our operations to scale efficiently.
Our employees are the heart of LMI. Together, we have set the strategy to catalyze continued growth and operate a focused business with strong values, transparency and a commitment to customer mission success.
On behalf of all of us at LMI, we remain committed to your success.