DRS Technologies Named to the Forbes Platinum 400 as One of the ''Best Big Companies in America;'' DRS Also Named the ''Best Managed Company'' in the Aerospace and Defense Industry.PARSIPPANY, N.J. -- DRS Technologies DRS Technologies, Inc. (commonly known as DRS; formerly known as Diagnostic/Retrieval Systems, Inc.) is a supplier of defense electronic products and systems to the United States Air Force, Army, Coast Guard, Marine Corps, Navy, aerospace and defense prime , Inc. (NYSE NYSE See: New York Stock Exchange : DRS DRS Drives (street suffix) DRS Dispute Resolution Service DRS Doctorandus DRS Department of Rehabilitative Services DRS Direct Registration System (securities) DRS Department of Rehabilitation Services ) announced today that it has been named to the 2005 Forbes Platinum 400 as one of the "Best Big Companies in America" and the "Best Managed Company" in the aerospace and defense industry in the December 27, 2004 issue of Forbes Magazine. As one of 73 companies that are new to the Forbes "Best Big Companies in America" list, DRS also was named as one of 15 companies that ranked highest in total annual return over the last five years - 36.6 percent. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Forbes, it studied 26 industries and 1,000 companies in search of publicly traded companies publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. with at least $1 billion in annual revenues, positive book value, a stock price of at least $5.00 per share as of November 30, 2004 and high rankings See Google bomb. for corporate practices, as well as long- and short-term sales, earnings growth and stock market performance. The writers and editors at Forbes then selected the best-managed company in each industry after additional scrutiny. See www.forbes.com/platinum400 for more information on the selection process. "We are very honored to be named to the prestigious Forbes Platinum 400 list and delighted to be selected as the Best Managed Company in the aerospace and defense sector on the strength of our growth in sales and profitability over the past several years," said Mark S. Newman, DRS Technologies' chairman, president and chief executive officer. "Structured specifically to address our customers' objectives, DRS has been strengthened by several recently awarded multi-year contracts. Looking ahead, we are confident in our ability to continue to execute our business strategies, which consistently have led to improved operational performance." For its fiscal year ended March 31, 2004, DRS reported revenues of $1.0 billion and diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of of $1.80. For its fiscal year ending March 31, 2005, the company upwardly guided revenues on November 5, 2004 to range from $1.27 billion to $1.30 billion and diluted earnings per share to be between $2.02 and $2.05, based on weighted average diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. shares outstanding of approximately 28.0 million. DRS Technologies, headquartered in Parsippany, New Jersey, provides leading edge products and services to defense, government intelligence and commercial customers. Focused on defense technology, DRS develops and manufactures a broad range of mission critical systems. The company employs 5,800 people worldwide. For more information about DRS Technologies, please visit the company's web site at http://www.drs.com. |
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