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BDM DOUBLES ITS NET INCOME, EPS ON STRONG REVENUE GROWTH IN FIRST HALF, SECOND QUARTER

 BDM DOUBLES ITS NET INCOME, EPS ON STRONG REVENUE GROWTH
 IN FIRST HALF, SECOND QUARTER
 MCLEAN, Va., Aug. 10 /PRNewswire/ -- BDM Holdings, Inc., parent company of BDM International, Inc., and Vinnell Corporation, today announced strong first half and second quarter results including net income and earnings per share that more than doubled the totals for comparable 1991 periods. Revenue was also up substantially compared with 1991. The results were announced by Philip Odeen, president and chief executive officer of the diversified professional and technical services firm.
 For the quarter ended June 30, BDM posted revenue totaling $105.7 million, a 50 percent increase over the $70.3 million achieved in the second quarter of 1991. Second quarter 1992 net income increased to $2.2 million, compared with $0.7 million in 1991, while EPS increased to 18 cents from 7 cents.
 Revenue in the first six months totaled $186.6 million in 1992, compared with $144.6 million last year, a 29 percent increase. Net income for the first half was $4.0 million compared with $1.3 million in 1991, and EPS climbed to 33 cents from 13 cents last year.
 "Although the revenue increases reflect the important contributions of Vinnell, acquired in mid-March, BDM International's revenue also increased for both the three- and six-month periods," Odeen said. "We are particularly pleased by the earnings growth, while recognizing that the prior year's earnings had been depressed by special costs associated with regaining BDM's independence."
 The results also point to the success of BDM's diversification efforts, Odeen explained, with U.S. defense business accounting for only one-half (51 percent) of 1992 revenue, compared with more than 80 percent just three years ago. He noted significant increases in international business and non-defense federal government revenue. The company also provides significant services to commercial clients and state and local governments.
 Odeen further noted that BDM is continuing to pay down its bank debt ahead of schedule. Borrowings totaling $97 million, required as BDM first regained its independent status in late 1990 and then acquired Vinnell this year, were reduced to $28.75 million by June 30.
 BDM Holdings Inc., is a partially employee-owned company operating autonomously in association with The Carlyle Group, L.P., and is headquartered in McLean (metropolitan Washington). BDM International, Inc., and Vinnell Corporation, the company's operating subsidiaries, provide professional and technical services to public and private sector clients in defense, communications, logistics, energy, the environment, space, transportation, manufacturing, product distribution, operations and maintenance, training and public policy.
 BDM HOLDINGS, INC. AND SUBSIDIARIES
 Summary of Operations Data
 Six Months Ended June 30
 (Amounts in Millions, Except Earnings Per Share)
 (Unaudited)
 1992 1991
 Revenue $186.6 $144.6
 Gross Profit 14.2 11.4
 Net Income 4.0 1.3
 Earnings Per Share $0.33 $0.13
 -0- 8/10/92
 /CONTACT: Todd A. Stottlemyer of BDM International, 703-848-5115/ CO: BDM International, Inc.; Vinnell Corporation ST: Virginia IN: SU: ERN


MH -- DC010 -- 8485 08/10/92 11:35 EDT
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Publication:PR Newswire
Date:Aug 10, 1992
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