HPTI acquisition pays off for DRC
By
Nick Wakeman
Company reports growth in revenue and income, helped along by its acquisition of High Performance Technologies Inc.
Dynamics Research Corp. saw its revenue grow by 3.4 percent, thanks in part to its acquisition of High Performance Technologies Inc. earlier this year.
For the company’s third quarter, it brought in revenue of $96.4 million, compared with $68.4 million for the quarter last year. When the company calculates revenue on a pro forma basis, as if HPTI was owned by DRC in both periods, revenue grew by 3.4 percent, the company said.
For the first nine months of 2011, revenue grew to $234.4 million compared with $202.3 million in 2010.
Income from continuing operations for the third quarter was $3.3 million, compared with $3 million in 2010. Likewise, income for the first nine months was up, reaching $8.7 million in 2011 versus $8.3 million in 2010.
“Even given the general market uncertainties tied to the congressional budget process, we believe that DRC, now more than ever, is well positioned with the right customers and contract vehicles to succeed going forward,” said DRC Chairman and CEO Jim Regan.
The company is seeing good demand for its IT solutions and consulting in areas such as cybersecurity, health care, homeland security, intelligence and financial regulatory markets, he said.