Do your own research on this one..I have done mine and I like this company and the
outlook for its technology/services...more information in prior posts..this out
yesterday...trades around 1.03 w/approx 7m outstanding...take nothing for granted and
do your own due diligence:
(PR NEWSWIRE) Hadron Reports Profitable 4th Quarter; Announces Fiscal 2001 St
Hadron Reports Profitable 4th Quarter; Announces Fiscal 2001 Strategic Plan
ALEXANDRIA, Va., Sept. 18 /PRNewswire/ -- Hadron, Inc.
(OTC Bulletin Board: HDRN) today announced financial results for its fiscal
year 2000 fourth quarter, ended June 30, 2000. The Company reported operating
income of $262,000 and net income of $204,000 ($0.03 net income per share)
versus an operating loss of $179,000 and a net loss of $156,000 (an $0.08 net
loss per share) for the fourth quarter of fiscal 1999. Hadron's earnings
before interest, taxes, depreciation and amortization (EBITDA) for the fourth
quarter were $404,000. The Company's profitability was achieved through a
combination of controlling overhead costs while increasing the productivity of
the Company's technical and professional staff.
For the fiscal year ended June 30, 2000, Hadron reported revenues of $19.9
million, an operating loss of $421,000 and a net loss of $745,000 (a $0.23 net
loss per share) versus revenues of $20.3 million, operating income of $63,000
and net income of $34,000 ($0.01 net income per share) for the prior fiscal
year. The Company's operating and net losses incurred during the first three
quarters of fiscal year 2000 resulted primarily from loss of billable staff
due to the hiring of certain of the Company's technical employees by a major
customer; goodwill amortization and interest expenses associated with
acquisitions; and investments in new business initiatives in the area of
biological weapons defense. The Company's EBITDA for the fiscal year ended
June 30, 2000 was $58,000.
Mr. Jon M. Stout, who joined Hadron as President and CEO on April 3, 2000,
following the closing of an investment in the Company by a group of investors
that he led, said, "We are pleased with the profitability achieved by Hadron
in the fourth quarter." Mr. Stout added, "More importantly, we are excited
about Hadron's new three-year strategic plan."
"Hadron's strategic plan emphasizes the transition of the Company into a
first class Intelligence Community solutions provider. This transition will
take place over a three-year period, and will result in a company that
provides technical support, outsourcing, counterproliferation support, and
secure information systems with sharp focus on the Intelligence Community.
During this process, the company will develop proprietary technology. The
strategy to implement this vision includes improving the Company's technical
offerings; expanding our technical staff; establishing a world class
recruiting organization and developing proprietary research and technology to
support our Intelligence and biodefense customers," concluded
Mr. Stout.
Hadron specializes in developing innovative technical solutions for the
intelligence community, analyzing and supporting defense systems (including
intelligent weapons systems and biological weapons defense), and supporting
complex computer systems. The Company's stock trades on the OTC Electronic
Bulletin Board under the symbol HDRN. Hadron can be found on the Internet at
www.hadron.com .
Except for the historical information contained herein, this press release
contains forward-looking statements within the meaning of Section 21E of the
Securities and Exchange Act of 1934, as amended, that involve a number of
risks and uncertainties. These forward-looking statements may be identified
by reference to a future period by use of forward-looking terminology such as
"anticipate," "expect," "could," "may" and other words of similar nature.
There are certain important factors and risks that could cause results to
differ materially from those anticipated by the statements contained herein.
Such factors and risks include business conditions and growth in the
information services, engineering services, software development and
government contracting arenas and in the economy in general. Competitive
factors include the pressures toward consolidation of small government
contracts into larger contracts awarded to major, multi-national corporations;
and the Company's ability to continue to recruit and retain highly skilled
technical, managerial and sales/marketing personnel. Other risks may be
detailed from time to time in the Company's filings with the Securities and
Exchange Commission. Hadron undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
Hadron, Inc.
Selected Financial Data
(amounts in $000's, except per share amounts)
Years Ended June 30, Quarters Ended June 30,
2000 1999 2000 1999
Revenues 19,901 20,333 4,879 5,390
Operating Income (Loss) (421) 63 262 (179)
Net Income (Loss) (745) 34 204 (156)
Net Income (Loss) Per
Share
Basic $(0.23) $0.02 $0.04 $(0.08)
Diluted $(0.23) $0.01 $0.03 $(0.08)
Weighted Avg. #
Shares:
Basic 3,276,269 1,794,775 5,100,172 1,856,445
Diluted 3,276,269 2,579,439 7,147,605 1,856,445
SOURCE Hadron, Inc.
-0- 09/18/2000
/CONTACT: Amber Gordon of Hadron, Inc., 703-329-9400, ext. 311,
agordon@hadron.com/
/Web site: hadron.com
(HDRN)
CO: Hadron, Inc.
ST: Virginia
IN: CPR
SU: ERN
*** end of story *** |
