May 16, 2013 at 4:11 pm
DynCorp International parent, Delta Tucker Holdings, Inc., recently reported first quarter 2013 financial results. Highlights include revenue of $932.1 million and adjusted EBITDA of $53.3 million.
“Despite U.S. government budget issues and the shifting focus in Afghanistan, our team delivered increased earnings and strong EBITDA margins while managing a reduction in the top line,” said Steve Gaffney, chairman and CEO. “Looking ahead, as organizational changes that were made in the beginning of the second quarter mature, I expect to see even more opportunity arise. Our new structure will help us achieve efficiencies in our existing businesses while introducing a new business Group that will fuel international commercial growth. This refined organization will help us become more effective and successful in delivering our services globally.”
First quarter revenue decreased $115.0 million or 11% to $932.1 million compared to first quarter 2012, primarily driven by lower content under the Logistics Civil Augmentation Program IV contract as the war in Afghanistan winds down. This was partially offset by a $61.3 million increase in revenue from the Aviation Group based on the continued strength of new contract wins from 2012. Net income attributable for the first quarter 2013 was $15.0 million, representing a $9.4 million improvement compared to first quarter 2012. Net income attributable to Holdings benefited from improved operating profitability, reduced interest expense based on the $90 million reduction in long-term debt during 2012. The Company reported adjusted EBITDA of $53.3 million for the first quarter, representing 5.7% of revenue, a 28.8% increase from the same period in 2012. Read more →
May 9, 2013 at 2:46 pm
DynCorp International is participating in the 2013 Special Operations Forces Industry Conference (SOFIC), to be held May 14–16, 2013, in Tampa, Fla. at the Tampa Convention Center. DI representatives will provide information about DynCorp International’s worldwide military support, with a focus on Special Operations Forces (SOF).
Held by the National Defense Industry Association (NDIA), SOFIC is a networking forum that brings together military, government, and academic constituents to discuss SOF-related issues. Attendees will have the opportunity to meet with other industry stakeholders about challenges facing the Special Operations Forces. Read more →
May 2, 2013 at 3:48 pm
“Among other missions,” writes DI NASA program manager Jim Snowden, “our team flies to Russia to pick up U.S. astronauts returning via the Russian Soyuz capsule from the International Space Station.”
DI team members participated in NASA astronaut Kevin Ford’s return to the United States after 142 days aboard the International Space Station. Ford returned to Earth via a Russian Soyuz space capsule and landed in Kazakhstan March 16. The next day he was flown back to the United States in a specially equipped NASA Gulfstream III, maintained and crewed by NASA and DynCorp International team members. The mission was commanded by NASA Aircraft Operations branch chief pilot Bill Ehrenstrom and piloted by DI’s Tom Ryan.
Prior to the mission, DI mechanics James Molina, Scott Leonard, Johnny Scott, Mike Brown and Keith Halkard worked diligently to de-configure the aircraft from a recent research mission and then configure the aircraft for this “Direct Return” mission. The work entailed removing racks of research equipment, interior furnishings and other support equipment. Then the team installed beds, chairs and medical equipment to support the astronaut’s trip back to the U.S. Read more →
April 30, 2013 at 4:44 pm
DynCorp International has hired more than 7,300 veterans as part of the White House Joining Forces initiative. Joining Forces was launched in 2011 by First Lady Michelle Obama and Dr. Jill Biden to help connect U.S. servicemen and women, veterans and military spouses with the resources they need to find jobs at home.
“More than 60 percent of the personnel who we have working on our programs around the world are veterans,” said Steve Gaffney, chairman and CEO of DynCorp International. “They bring a unique understanding of and appreciation for our customers’ missions, and we are proud to call so many of them our colleagues.”
In 2012, DI hired more than 4,080 veterans, exceeding the company’s Joining Forces goal of 4,000 veteran hires for the year. On April 30, 2013, Mr. Gaffney, along with DI veteran employee Clint Barkley, joined other Joining Forces partners at the White House for an event to recognize the achievements of the initiative. Read more →
April 23, 2013 at 2:30 pm
DynCorp International team members in Fort Worth, Texas, are participating in the AllianceTexas Corporate Challenge, benefitting local children’s organizations that promote health and fitness.
Companies based within the AllianceTexas development are eligible to participate in the annual event. Participants compete in a variety of league-style sporting events and tournament games that promote camaraderie among area businesses and enhance employees’ health and fitness through various athletic and recreational activities. Organizations that have benefitted from past challenges include the Northwest Independent School District Education Foundation, Roanoke Youth Association, Haslet Youth Association, Communities in Schools and Community Storehouse.
“Our DI team members participating in these events not only have a great time competing in the team activities but are also proud to be able to support the local community at the same time,” said Dawn Hogan, DynCorp International Small Business manager and AllianceTexas vice president of special events. Read more →
April 16, 2013 at 3:01 pm
For the second year in a row, DynCorp International has been recognized as a top veteran employer. The list – Military Times EDGE magazine’s 2013 list of “Best for Vets” employers – shows DI as the company with the most veteran executives, with 63 percent.
“Year after year, veterans help make our company better,” said Steve Gaffney, chairman and chief executive officer of DynCorp International. “Their experiences translate into a special appreciation for the challenges our customers face, and their positive leadership attributes help our teams outperform and exceed customer expectations.”
Military Times EDGE invited businesses across the country to participate in a rigorous, 70-question survey on recruiting people connected to the military; company policies related to veterans, reservists and their families; the organization’s culture; and other issues. Companies selected to the top employers list were selected based on factors such as veteran hiring preference, veteran on-boarding procedures, company training about the military and military spouse support. Read more →