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First Quarter Revenues Increased 26.5% to $537.7 Million, Pro Forma Cash Earnings Increased 56.5% to $0.36 Per Share
IRVING, Texas-(BUSINESS WIRE)-August 2, 2006
DynCorp
International Inc. (NYSE:DCP) announced today its financial results for
the first quarter ended June 30, 2006. Shares of the Company's Class A
common stock began trading on the New York Stock Exchange on May 4,
2006, following its initial public offering. Financial results
discussed in this press release for the first quarter give effect to
the IPO.
The Company's capital structure has improved as a
result of its IPO. The Company used net IPO proceeds of $352.5 million
to redeem its preferred stock and accumulated dividends outstanding,
pay a special Class B distribution, pre-pay a portion of its
subordinate notes, and pay various IPO transaction- related expenses.
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