IRVING, TEXAS (February 21, 2006) – DynCorpInternational LLC and its subsidiaries (collectively, the”Company”), a provider of specialized mission-critical outsourcedtechnical services to civilian and military government agencies,today reported revenue of $553.6 million, net income of $5.6million, and EBITDA of $35.3 million for the 3-month period thatended December 30, 2005.
Third Quarter Operating Results
Revenue of $553.6 million increased $84.0 million or 17.9 percentwhen compared to revenue from the prior year quarter and increased$114.0 million or 25.9 percent when compared to revenue reportedfor the Company’s second fiscal quarter ended September 30, 2005.The source of revenue growth when comparing to the prior yearquarter was primarily the result of the following programs withinthe Company’s International Technical Services operatingsegment:
- International Narcotics and Law Enforcement Air WingProgram: Revenue increased $37.1 million from a new contractaward going into effect November 1, 2005 and added work to providehelicopter support for ground eradication efforts inAfghanistan;
- Civilian Police Program: Revenue increased $31.2 millionfrom added effort in the Middle East;
- Hurricane Relief Efforts: Revenue of $13.9 million wasachieved during the quarter from work in support of the HurricaneKatrina relief efforts.
The Company reported net income of $5.6 million for the 3 monthsthat ended December 30, 2005, compared with $21.2 million for theprior year quarter – a decrease of $15.6 million or 73.6 percent.The Company’s net income decrease resulted primarily from the addedinterest expense and intangible asset amortization related to itsacquisition occurring on February 11, 2005 more fully discussed inthe section titled “Basis of Presentation”.