DynCorp revenues spurred by continued strong contract demand
Company has $3.7 billion in revenue in 2011, up $334.4 million or 9.9 percent from calendar year 2010.
DynCorp International Inc. saw fourth-quarter revenues increase 14.8 percent over fourth quarter 2010 to $983 million, according to a March 21 earnings statement released by parent company Delta Tucker Holdings Inc.
For the year of 2011, DynCorp revenue was $3.7 billion, up $334.4 million or 9.9 percent from calendar year 2010, which factors in deconsolidation of the Global Linguist Solutions joint venture.
Delta Tucker said the fourth-quarter increase was due to continued strong demand under the LOGCAP IV contract; a 35 percent increase by DynCorp’s Air Operations business area team, increased business from the Security Services team, and a 19.9 percent top line growth in the Training and Mentoring team.
Revenue for the quarter was partially offset by the loss of the Life Cycle Contractor Support contract under the Aviation team.
DynCorp’s Security business saw fourth-quarter revenue increase to $23.5 million, a $9.8 million increase from the fourth quarter 2010, but revenue was essentially flat for the year, compared to calendar year 2010.
The company ended the year with a $5.7 billion backlog, up $959 million from calendar year 2010, for a 20.1 percent increase.
Each of DynCorp's business teams won new contracts or re-competes during the year including significant wins in the Security Services and Aviation areas and the extension of the first-option year under the LOGCAP IV contract.
The company enters 2012 with a strong backlog of orders, market position and depth of services to meet the life-cycle of needs to support the national security and foreign policy objectives of the U.S. and its allies, the statement said.
"Our team delivered a very solid year of performance in 2011," said Steven Gaffney, DynCorp chairman and CEO, in the statement.
"Our redesigned business development platform helped increase our backlog almost $1 billion over the year and drove significant increases in our new business pipeline,” he said.
DynCorp International Inc., of Falls Church, Va., ranks No. 12 on Washington Technology’s 2011 Top 100 list of the largest federal government contractors.