DynCorp Parent Reports 8% 3Q Revenue Jump, Aviation Up 23%; Steve Gaffney Comments

Steve Gaffney

The parent company of DynCorp International has announced financial results for the first quarter of fiscal year 2013 ended Sept. 28, 2012.

Delta Tucker Holdings reported a revenue increase of 8 percent over the prior year period to $1.01 billion, attributing it in part to new contract wins in the aviation group, which reported a 23 percent year-over-year revenue increase.

Total backlog was $6.1 billion, an increase of $325 million from year-end 2011 figures.

“The team delivered another strong quarter with revenue growth of eight percent, supported by our aviation, LOGCAP and security services groups, including a much improved award fee determination on LOGCAP” said Steve Gaffney, chairman and CEO. “We also won important IDIQ positions in our training and intelligence solutions and global logistics and development groups, and continued to increase backlog.”

Revenue for the Logistics and Civil Augmentation Program IV contract increased 14.3 percent, or $55 million, over the prior year period due to work volume increases in Afghanistan.

Within the aviation group, Delta attributed the revenue jump to operations under new Contract Field Teams task orders with customers including NASA and Robins Air Force Base.

Delta also announced it acquired aviation service provider Heliworks during the recent quarter, completing the transaction July 6 and funding it with an undisclosed amount of cash on hand.

Heliworks was integrated into the aviation group with the goal of expanding DynCorp’s aircraft maintenance portfolio in the government and commercial markets.

Heliworks’ services include charter flights, aircraft maintenance, repairs, avionics upgrades, component overhauls, painting and refurbishment.

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