Printer Friendly

GRC INTERNATIONAL REPORTS EARNINGS FOR THE SECOND QUARTER ENDED DEC. 31, 1991 AND MANAGEMENT CHANGES

    GRC INTERNATIONAL REPORTS EARNINGS FOR THE SECOND QUARTER ENDED
                  DEC. 31, 1991 AND MANAGEMENT CHANGES
    VIENNA, Va., Jan. 23 /PRNewswire/ -- GRC International, Inc. (NYSE: GRH) today announced earnings for the second quarter ended Dec. 31, 1991.
    For the second quarter of fiscal year 1992, the company reported net income of $1,136,000, or $.13 per share, on revenues of $25,736,000. Comparable results for the second quarter of the previous year were income from continuing operations of $1,008,000, or $.11 per share, and a loss from discontinued operations of $251,000, or $.03 per share, for net income of $757,000, or $.08 per share, on revenues of $24,997,000.
    Year to date, the company reported net income of $1,970,000, or $.22 per share, on revenues of $51,325,000.  Comparable results from the same period of the previous year were income from continuing operations of $1,851,000, or $.20 per share, and a loss from discontinued operations of $413,000, or $.04 per share, for net income of $1,438,000, or $.16 per share, on revenues of $52,667,000.
    The company also announced that it has been unable to reach mutually satisfactory contractual terms with Edward T. Jones, chairman, president and chief executive officer, and because of this James Roth has been appointed acting president and chief executive officer of GRC International, Inc. Lt. General George M. Seignious II, USA (Ret.) has agreed to serve as acting chairman during this interim period.  James Roth is currently president and chief executive officer of General Research Corporation (GRC), a major subsidiary of GRC International, Inc.
    GRC International, Inc., based in Vienna, Va., is a nationally recognized provider of military, civil, and commercial innovative, high- quality technical and professional services to U.S. government agencies and large aerospace corporations.  GRC International, Inc. is listed on the New York and Pacific stock exchanges.
                        GRC INTERNATIONAL, INC.
    Quarter Ended Dec. 31                      1991          1990
    Revenues                                $25,736,000   $24,997,000
    Income from continuing operations         1,136,000     1,008,000
    Loss from discontinued operations            --          (251,000)
    Net income                                1,136,000       757,000
    Income (loss) per common share:
     Continuing operations                         .13          .11
     Discontinued operations                       --          (.03)
     Total                                         .13          .08
    Weighted average number of common shares   8,870,000    8,861,000
     Six months ended Dec. 31                    1991          1990
    Revenues                                  51,325,000    52,667,000
    Income from continuing operations          1,970,000     1,851,000
    Loss from discontinued operations              --         (413,000)
    Net income                                 1,970,000     1,438,000
    Income (loss) per common share:
     Continuing operations                        .22             .20
     Discontinued operations                       --            (.04)
     Total                                        .22             .16
    Weighted average number of common shares    8,869,000     8,861,000
    -0-        1/23/92
    /CONTACT:  Thomas E. McCabe of GRC International, Inc., 703-506-5005/
    (GRH) CO:  GRC International, Inc. ST:  Virginia IN:  ARO SU:  ERN PER FC-KW -- NY105 -- 3071 01/23/92 18:08 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 23, 1992
Words:485
Previous Article:HONEYWELL INTRODUCES TOTALHOME(TM) INTEGRATED HOME SYSTEM (Product Announcement)
Next Article:UNDERWRITERS LED BY SMITH BARNEY, HARRIS UPHAM & CO. OFFER 1,200,000 SHARES OF COMMON STOCK OF PLAINS RESOURCES INC.


Related Articles
GRC INTERNATIONAL REPORTS EARNINGS FOR THE FIRST QUARTER ENDED SEPT. 30, 1991
LUND INTERNATIONAL HOLDINGS ANNOUNCES SALES AND EARNINGS FOR SECOND QUARTER ENDED DEC. 31, 1991
WHEELABRATOR TECHNOLOGIES REPORTS HIGHER REVENUES AND NET INCOME FOR 1991 AND THE FOURTH QUARTER
GRC INTERNATIONAL REPORTS EARNINGS FOR THE THIRD QUARTER ENDED MARCH 31, 1992
GRC INTERNATIONAL REPORTS EARNINGS FOR THE QUARTER AND YEAR ENDED JUNE 30, 1992
GRC INTERNATIONAL, INC. REPORTS EARNINGS FOR THE FIRST QUARTER ENDED SEPT. 30, 1992
GRC INTERNATIONAL, INC. REPORTS EARNINGS FOR THE SECOND QUARTER ENDED DEC. 31, 1992
GRC INTERNATIONAL, INC. REPORTS EARNINGS FOR THE THIRD QUARTER ENDED MARCH 31, 1993
GRC INTERNATIONAL SAYS IT EXPECTS TO REPORT EARNINGS OF APPROXIMATELY $.10 PER SHARE FOR THE SECOND QUARTER ENDING DECEMBER 31, 1994
GRC International Reports Second Quarter Financial Results, EBT Up 172% to $1.9 Million on 31% Revenue Growth.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters