DynCorp 2Q profit rises on revenue growth

Military contractor DynCorp International Inc. said Wednesday that its second-quarter profit jumped 60 percent on strong revenue growth.

The company, which trains police, provides aviation support in Iraq, and helped flood victims in Iowa, said it earned almost $20.6 million, or 37 cents per share, during the quarter that ended Oct. 2. That was up from $12.9 million, or 23 cents per share, during the same period a year earlier.

Revenue rose 5 percent to $821.4 million, from $779.2 million a year earlier.

The profit matched the expectation of analysts surveyed by Thomson Reuters, although they had been expecting slightly higher revenue of $836.1 million.

DynCorp said the second-quarter improvement was driven by a combination of profitable revenue growth, award fee bookings on parts of its contracting work in Kuwait and Afghanistan, and one-time revenue in its Worldwide Personnel Protective Services division.

Those increases were offset by lower profits in its Civilian Police program as some work ended.

For the full year, the company said it expects revenue of $3.3 billion to $3.5 billion, and a profit of $1.46 to $1.58 per share. Analysts are expecting a profit of $1.58 per share on revenue of $3.53 billion.

Shares closed earlier up 13 cents at $17.12.