DynCorp Intl swings to 2Q profit $14M on margin growth |
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Wed, 31 Oct 2007 21:48
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NEW YORK (Thomson Financial) - DynCorp International Inc. Wednesday reported fiscal second-quarter earnings of $14 million, or 24 cents a share, up from a year-ago loss of $2.9 million, or 5 cents a share.Revenue rose 4.3% in the latest three months to $495.1 million from $474.7 million in the same period a year earlier.The mean estimate of analysts polled by Thomson Financial was for a profit of 20 cents a share in the September period on revenue of $541.8 million.The Falls Church, Va., provider of technical services to civilian and military government agencies said its operating margin increased to 6.8% in the latest quarter from 2% a year ago because of improved contract performance and the elimination of certain one-time costs.DynCorp also backed its outlook for earnings of $1 to $1.10 a share on revenue of between $2.3 billion and $2.4 billion for fiscal 2008. It sees EBITDA (earnings before interest, taxes, depreciation and amortization) of between $190 million and $200 million for the year.The current mean analysts' view is for a profit of $1.05 a share in fiscal 2008.The stock closed at $22.64.Michael BaronmbCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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