Printer Friendly

REVENUE, EARNINGS GAINS POSTED BY BDM; CONTRACT AWARDS EXCEED LAST YEAR'S TOTAL

 MCLEAN, Va., Aug. 2 /PRNewswire/ -- BDM International, Inc. (BDM), today announced substantial increases in revenue and net income for the three- and six-month periods ending June 30, 1993, compared with the equivalent 1992 periods. Contract award totals also continued at record high levels, according to BDM President and CEO Philip A. Odeen, as the company received approximately $500 million in first-half awards, a figure which exceeds the total for all of 1992.
 Second quarter revenue totaled $131.1 million, up 24 percent from the $105.7 million posted in 1992. Net income grew 21 percent to $2.9 million in 1993 from $2.4 million in 1992, while earnings per share increased to 25 cents from 21 cents.
 For the first six months of 1993, total revenue was $234.6 million compared with $186.6 million for the same period in 1992, a 26 percent increase. Net income for the first half was $5.2 million, up 18 percent from the $4.4 million achieved in the first half of 1992. Earnings per share totaled 43 cents for the six months, compared with 38 cents in 1992.
 "As new programs begin to contribute to revenue," Odeen said, "this year has the potential to exceed our previously announced revenue projection of $475 million in 1993 (compared with actual revenue of $424 million in 1992). But our net income, while probably higher than 1992 levels, will be impacted by our previously announced commitment to invest heavily in new program areas, especially to build BDM's commercial and international business."
 BDM's diversification plans, which involve increased emphasis on commercial and government business outside the Department of Defense (DOD), are on target, Odeen said. However, the company's largest program, won in 1993, for an Air Force computer systems consolidation contract, will result in the percentage of revenue attributable to DOD business being approximately 50 percent of total revenue in the near future. Odeen noted that the $500 million in 1993 contract awards through June 30, which does not include the large management and operations contract for the Department of Energy's Bartlesville (Oklahoma) Research Facility, compares with $291 million in awards for all of 1992 and $335 million in awards for all of 1991.
 BDM International, Inc., is headquartered in McLean (Metropolitan Washington, D.C.). The company provides scientific, engineering, technical, and expert services to public and private sector clients in national defense, transportation, communications, energy, environment, space, logistics, information systems, advanced technology, manufacturing technology, systems integration, product distribution, operations and maintenance, and public policy. The company has approximately 4,600 employees and operates in more than 60 locations worldwide.
 BDM INTERNATIONAL, INC., AND SUBSIDIARIES
 Summary of Operations Data
 (amounts in millions, except earnings per share)
 (unaudited)
 Three Months Ended June 30, 1993 1992
 Revenue $ 131.1 $ 105.7
 Net Income 2.9 2.4
 Earnings Per Share $ .25 $ .21
 Six Months Ended June 30, 1993 1992
 Revenue $ 234.6 $ 186.6
 Net Income 5.2 4.4
 Earnings Per Share $ .43 $ .38
 -0- 8/2/93
 /CONTACT: Todd A. Stottlemyer of BDM, 703-848-5115/


CO: BDM International, Inc. ST: Virginia IN: ARO CPR SU: ERN

MH-TW -- DC005 -- 8211 08/02/93 09:11 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 2, 1993
Words:528
Previous Article:NATIONAL CITY CORPORATION'S SUBSIDIARY, NATIONAL CITY MORTGAGE CO., ELECTS DALE A. BRANHAM SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
Next Article:KELSEY-HAYES REALIGNS MANAGEMENT FOR FAST-GROWING EUROPEAN OPERATIONS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters