DynCorp shares jump on Q4 results

Thu Jun 4, 2009 10:42am EDT
 
[-] Text [+]

(Reuters) - Shares of DynCorp International Inc (DCP.N) rose as much as 20 percent, a day after the defense contractor posted better-than-expected quarterly profit, driven mainly by revenue growth from a contract to provide linguistic services to the defense department.

The company's majority-owned venture Global Linguist Solutions was awarded a linguist and translation services contract by the Army, last February.

It also forecast 2010 revenue above analysts' estimates.

DynCorp shares rose 15 percent to $16.87 in morning trade after touching a high of $17.54 on the New York Stock Exchange.

(Reporting by Dhanya Ann Thoppil; Editing by Jarshad Kakkrakandy in Bangalore)

 

Featured Broker sponsored link