This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

DRC Reports Third Quarter 2013 Results

Adjusted EBITDA of 9.2 Percent on Revenue of $68 Million

Major Homeland Security Contract Wins Highlight Quarter Results

18 Percent Growth in Healthcare

Operating Cash Generation at 10.5 Percent of Revenue

ANDOVER, Mass., Oct. 30, 2013 (GLOBE NEWSWIRE) -- Dynamics Research Corporation (Nasdaq:DRCO), a leading technology and management consulting company focused on driving performance and process improvement for government clients, today announced operating results for the third quarter ended September 30, 2013.

Financial Results

Net income for the quarter ended September 30, 2013 was $1.4 million, or $0.13 per diluted share, as compared with $1.4 million, or $0.13 per diluted share, for the third quarter of 2012, excluding a goodwill impairment charge of $36.6 million (pre-tax), or $2.25 per diluted share, and a legal settlement gain of $2.4 million, or $0.14 per diluted share, both in the prior-year period. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the third quarter of 2013 was $6.2 million, or 9.2 percent of revenue, as compared with $8.9 million, or 11.6 percent of revenue, as reported for the same period a year ago. Revenue for the third quarter of 2013 was $67.5 million compared with $76.8 million for the third quarter of 2012.

For the nine month period ended September 30, 2013 net income was $3.8 million, or $0.36 per diluted share, compared with $4.6 million, or $0.44 per diluted share, for the same period in 2012, excluding the third quarter 2012 goodwill impairment charge of $36.6 million and legal settlement gain of $2.4 million. Adjusted EBITDA for the first nine months of 2013 was $18.0 million, or 8.5 percent of revenue, as compared to $23.9 million, or 9.8 percent of revenue, for the same period a year ago. For the nine months ended September 30, 2013 revenue was $213.2 million compared with $243.5 million for the first nine months of 2012.

Stock quotes in this article: DRCO 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,441.51 +16.66 0.10%
S&P 500 1,864.56 +2.25 0.12%
NASDAQ 4,095.1080 +8.8830 0.22%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs