PRESS RELEASE
DynCorp International Inc. Reports Third Quarter Fiscal Year 2010 Financial Results
- Revenue of $915.0 million, a 15.5% increase over Q3 FY09
- Diluted earnings per share of $0.36, a 5.9% increase over Q3 FY09
- EBITDA of $55.4 million, a 2.9% decrease from Q3 FY09
- Ending
cash balance of $67.1 million and outstanding debt of $552.1 million
versus $599.9 million at the beginning of the fiscal year
FALLS
CHURCH, Va., Feb 03, 2010 (BUSINESS WIRE) -- DynCorp International Inc.
(NYSE: DCP), a provider of specialized mission-critical services to
civilian and military government agencies, today reports financial
results for its third quarter of fiscal year 2010 ended January 1, 2010.
"Solid
program performance resulted in record revenue in the third quarter and
tightened full year revenue guidance," said William L. Ballhaus,
DynCorp International's Chief Executive Officer. "Delays in recognizing
LOGCAP IV award fee and acquisition related expenses resulted in lower
Q3 profitability. While we expect to recover the LOGCAP award fee next
year, these items along with an unexpected slow down of our police
training program led to reduced full year earnings guidance. With a
healthy backlog and pipeline, and two recent acquisitions opening up
new channels to market, we are well positioned for continued growth and
value creation supporting defense, diplomacy, and development
initiatives around the globe."
Third Quarter Fiscal Year 2010 Operational Highlights
- Closed the acquisition of Phoenix Consulting Group Inc.
- Continued ramp-up of the Afghanistan task order under the LOGCAP IV contract
- Earned second consecutive 100% award fee score on the INSCOM program by our Global Linguist Solutions (GLS) joint venture
- Achieved full operational capability on the Department of State aviation operations program in Iraq
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