DynCorp 2Q profit rises on revenue growth
FALLS CHURCH, Va. (AP) - Military contractor DynCorp
International Inc. said Wednesday that its second-quarter profit
jumped 60 percent on strong revenue growth.
The company, which trains police, provides aviation support in
Iraq, and helped flood victims in Iowa, said it earned almost $20.6
million, or 37 cents per share, during the quarter that ended Oct.
2. That was up from $12.9 million, or 23 cents per share, during
the same period a year earlier.
Revenue rose 5 percent to $821.4 million, from $779.2 million a
year earlier.
NYSE:DCP Updated: 16:01 ET 15.44 -0.06 |
The profit matched the expectation of analysts surveyed by
Thomson Reuters, although they had been expecting slightly higher
revenue of $836.1 million.
DynCorp said the second-quarter improvement was driven by a
combination of profitable revenue growth, award fee bookings on
parts of its contracting work in Kuwait and Afghanistan, and
one-time revenue in its Worldwide Personnel Protective Services
division.
Those increases were offset by lower profits in its Civilian
Police program as some work ended.
For the full year, the company said it expects revenue of $3.3
billion to $3.5 billion, and a profit of $1.46 to $1.58 per share.
Analysts are expecting a profit of $1.58 per share on revenue of
$3.53 billion.
Shares closed earlier up 13 cents at $17.12.
11/04/09 21:27
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