DRC Closes Sale of Metrigraphics Unit
22 Julho 2010 - 9:01AM
Dynamics Research Corporation (Nasdaq:DRCO), a leading provider of
innovative management consulting, engineering, and technology
solutions to federal and state governments, today announced that it
has sold its Metrigraphics Division, effective July 19, 2010.
The Division, which was classified as a discontinued operation
for financial reporting purposes as of December 31, 2009, will
continue operating as an independent company, Metrigraphics, LLC,
backed by two private equity firms, Clarkston Merchant Partners,
LLC and New England Capital Partners. Under the terms of the
transaction, the assets to operate the business were transferred to
Metrigraphics, LLC. Purchase price proceeds, net of
transaction costs, approximated book value of the
Division. Covington Associates, LLC represented DRC in this
transaction.
Metrigraphics is a leading worldwide supplier of ultra-high,
precision, custom components for Original Equipment
Manufacturers. The transaction enables DRC to have a 100
percent focus on its government client business while giving
Metrigraphics the investment backing to further penetrate its
market opportunities.
DRC will hold its second quarter 2010 conference call on
Thursday, July 29, at 10:00 a.m. ET. The call will be
available by telephone at 877-303-4382 and accessible by webcast at
www.drc.com.
About Dynamics Research Corporation
Dynamics Research Corporation (DRC) provides measurable
performance improvements for government customers through the
delivery of innovative management consulting, engineering and
technology solutions. DRC offers the capabilities of a large
company and the responsiveness of a small company, 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 and the Washington, D.C. region. For
more information please visit our website at 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.
CONTACT: Darrow Associates, Inc.
Investors:
Chris Witty
646.438.9385
cwitty@darrowir.com
Sage Communications (for DRC)
Media:
Duyen "Jen" Truong
703.584.5645
duyent@aboutsage.com
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