DynCorp Int'l Q2 Profit Rises; Reaffirms FY10 Guidance

11/4/2009 7:55 PM ET

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(RTTNews) - Wednesday, DynCorp International Inc. (DCP: News ) said its profit for the second-quarter increased from the previous year quarter, on higher operating income with revenues advancing 5.4%. Looking ahead, the company reaffirmed its full year 2010 guidance.

DynCorp recorded a second quarter net income attributable to DynCorp International Inc. of $20.6 million or $0.37 per share, compared to $12.9 million or $0.23 per share in the same quarter last year.

On average, nine analysts polled by Thomson Reuters expected the company to earn $0.37 per share for the quarter. Analysts' estimates typically exclude special items.

The company's second quarter revenues increased 5.4% to $821.4 million from $779.1 million in the comparable quarter last year. Analysts expected the company to report revenue of $836.07 million for the quarter.

Operating income for the quarter increased to $52.55 million from $46.63 million in the corresponding quarter last year.

For the six-month period, net income attributable to DynCorp was $41.20 million or $0.73 per share, compared to $30.85million or $0.54 per share for the previous year period.

Operating income was $105.1 million for the first six months of fiscal year 2010 compared to $86.6 million for the first six months of fiscal year 2009 or an increase of 21.3%.

Revenue for the first six months of fiscal year 2010 increased 7.4% to $1.606 billion from $1.495 billion for the first six months of fiscal year 2009.

Looking forward to the full year 2010, the company reaffirmed its prior guidance and expects revenue in the range of $3.3 billion to $3.5 billion with earnings in the range of $1.46 to $1.58 per share. Analysts currently anticipate the company to earn $1.58 per share on revenue of $3.53 billion for the full year.

DCP closed Wednesday's regular trading at $17.12 up $0.13 or 0.77% on a volume of 0.236 million shares on the NYSE.