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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