PRESS RELEASE
DynCorp International Inc. Announces Stock Repurchase Program Of Up
To $10 Million Of Its Outstanding Shares Of Common Stock
FALLS CHURCH, VA – Jun 06, 2007 (BUSINESS WIRE)
DynCorp
International Inc. (NYSE: DCP), today announced that its Board of
Directors has authorized the company to repurchase up to $10 million of
its outstanding common stock.
"We believe that a stock
repurchase program is an effective way to enhance shareholder value and
demonstrate our confidence in the long-term value of DynCorp
International Inc.," said Hebert J. Lanese, the company's chief
executive officer.
The shares may be repurchased from time to time
in open market conditions or through privately negotiated transactions
at the company's discretion, subject to market conditions, and in
accordance with applicable federal and state securities laws and
regulations. Shares of stock repurchased under this plan will be held
as treasury shares.
The program does not obligate the company
to acquire any particular amount of common stock and the program may be
modified or suspended at any time at the company's discretion. The
purchases will be funded from available working capital. As of March
30, 2007, the company had 57 million shares outstanding.
About DynCorp International
DynCorp
International Inc., through its operating company DynCorp International
LLC, is a provider of specialized mission-critical technical services,
mostly to civilian and military government agencies. It operates major
programs in law enforcement training and support, security services,
base operations, aviation services and operations, and logistics
support worldwide. Headquartered in Falls Church, Va., DynCorp
International LLC has approximately 14,600 employees worldwide. For
more information, visit www.dyn-intl.com.
Forward-looking Statements
Certain
statements made in this announcement may constitute "forward-looking
statements" within the meaning of Section 27A of the Securities Act, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, regarding the expectations of management with respect to
revenue and profitability. All of these forward-looking statements are
based on estimates and assumptions made by the Company's management
that, although believed by the Company to be reasonable, are inherently
uncertain. Forward-looking statements involve risks and uncertainties,
including, but not limited to, economic, competitive, governmental, and
technological factors outside of the Company's control that may cause
its business, strategy or actual results or events to differ materially
from the statements made herein. These risks and uncertainties may
include, but are not limited to, the following: changes in the demand
for services the Company provides; additional work awarded under the
Civilian Police and International Narcotics and Law Enforcement
contracts; pursuit of new commercial business in the U.S. and abroad;
activities of competitors including bid protests; changes in
significant operating expenses; changes in availability of capital;
general economic and business conditions in the U.S. and abroad; acts
of war or terrorist activities; variations in performance of financial
markets; and other risks detailed from time to time in the Company's
reports filed with the Securities and Exchange Commission. Given these
risks and uncertainties, you are cautioned not to place undue reliance
on forward-looking statements. The Company's actual results could
differ materially from those contained in the forward-looking
statements. The Company undertakes no obligation to publicly update or
revise any forward-looking statement as a result of new information,
future events or otherwise, except as required by law.
