SAIC, DynCorp Announce Financial Results

Two major government contractors today announced their fiscal results, noting a positive trend with spiking figures in revenue growth.

Walt Havenstein, SAIC chief executive officer, attributed the positive numbers to winning several significant contracts during the quarter in national priority areas such as cybersecurity and logistics.

“These awards reflect the strong alignment between our strategic capabilities and our customers’ missions,” he said. “We improved our book-to-bill ratio considerably to 1.2, and our outlook for fiscal year 2011 remains unchanged.”

SAIC reported revenues for the quarter were $2.69 billion, up 1 percent from $2.65 billion in the first quarter of fiscal year 2010. Internal revenue growth contracted 1 percentage point for the quarter. Internal revenue growth was adversely affected by fewer new contract starts from lower recent bookings, and lower demand for materials on a number of programs.

William L. Ballhaus, DynCorp International’s chief executive officer, commented on his company’s results and said solid program performance resulted in record revenue and EBITDA for both the quarter and the fiscal year.

“Our results reflect our continued commitment to execute our strategy to grow our customer base, revenue and cash flow by defending and growing our core business, expanding our presence in platform support and stabilization/development and penetrating new market segments,” Ballhaus said.

For DynCorp, revenue for the fourth quarter of fiscal year 2010 grew by 30.9 percent to $1,063.7 million from fourth quarter fiscal year 2009 revenue of $812.8 million as a result of the ramp-up of the LOGCAP IV program and recent acquisitions of Phoenix Consulting Group, Inc. (Phoenix) and Casals.

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