Dynamics Research Corporation Establishes $50 Million Credit Facility
03 Outubro 2006 - 3:04PM
PR Newswire (US)
ANDOVER, Mass., Oct. 3 /PRNewswire-FirstCall/ -- Dynamics Research
Corporation (NASDAQ:DRCO) announced today that it has entered into
a $50 million revolving credit facility, effective September 29,
2006, replacing the company's previous facility of $37 million.
Funds under the facility, which has a term of 3 years, are
available for general corporate purposes. The bank group, led by
Brown Brothers Harriman & Co., also includes Bank of America
and TD BankNorth. Using cash generated by the company's operations
over the past two years the company has reduced its outstanding
acquisition term loan, which had an original balance of $55 million
on September 1, 2004, by $38 million. The remaining balance of $17
million has been paid off applying funds from the revolving credit
facility. The new facility positions the company's financing
structure to efficiently and effectively support its growth
strategy. About Dynamics Research Corporation Dynamics Research
Corporation (DRC) is a leading provider of mission- critical
technology management services and solutions for government
programs. DRC offers forward-thinking solutions backed by a history
of excellence and customer satisfaction. Founded in 1955, DRC is a
publicly held corporation (NASDAQ:DRCO) and maintains more than 25
offices nationwide with major offices in Andover, Massachusetts;
Vienna, Virginia; and Fairborn, Ohio. For more information please
visit our website at http://www.drc.com/. Safe harbor statements
under the Private Securities Litigation Reform Act of 1995: Some
statements contained or implied in this news release, may be
considered forward-looking statements, which by their nature are
uncertain. Consequently, actual results could materially differ.
For more detailed information concerning how risks and
uncertainties could affect the company's financial results, please
refer to DRC's most recent filings with the SEC. The company
assumes no obligation to update any forward-looking information.
CONTACTS: Investors: Dave Keleher SVP and Chief Financial Officer
978. 289.1615 DATASOURCE: Dynamics Research Corporation CONTACT:
Dave Keleher SVP and Chief Financial Officer of Dynamics Research
Corporation, +1-978-289-1615, Web site: http://www.drc.com/
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