DRC Announces 700 Thousand Share Repurchase Program
06 Dezembro 2010 - 12:13PM
Dynamics Research Corporation (Nasdaq:DRCO), a leading provider of
innovative management consulting and information technology
solutions, today announced that its Board of Directors has
authorized a program to repurchase up to 700 thousand shares of the
Company's outstanding common stock. Purchases will be made from
time to time on the open market subject to restrictions related to
volume, price and timing. The repurchase program is effective
immediately, may be suspended or discontinued at any time, and will
be funded using the Company's available cash.
"The share repurchase program demonstrates our confidence in the
Company's strong sustainable long term growth prospects and our
commitment to enhancing shareholder value," said Jim Regan, DRC's
chairman and chief executive officer. "Having reported several
years of consistent growth in revenue, earnings and operating cash,
flow the Company has a strong balance sheet. Consistent with our
strategy we are confident the Company is well positioned to
capitalize on future growth opportunities."
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
Media:
Matt Warnock
703.207.0941
mattw@aboutsage.com
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