there is also this release in June ref a contract being transferred by hdrn to another
company...they do not seem to be referring to the same contract as the one granted in
May...and the release does mention that magic word...profitability. yahoo shows that thru 9mo ended March 00 the company's loss was around $950k on basically flat rev of $15m so if the company was reaching even break even status towards the end of the FY (June) that is good news....also there was a financing done in the spring which should help handle the bills.
(PR Wires) PRW: Hadron Divests Subsidiary's Contract
PRW: Hadron Divests Subsidiary's Contract
ALEXANDRIA, Va., June 1 /PRNewswire/ -- Hadron, Inc. (OTC Bulletin Board:
HDRN.OB) today announced that its Vail Research and Technology Corp.
subsidiary has agreed to transfer a contract with DynCorp Information &
Engineering Technology, Inc., under which support services are provided for
the Defense Advanced Research Projects Agency (DARPA), to Nighthawk
Technologies, Inc. for consideration of approximately $55,000.
Hadron announced that it is transferring this support services contract in
order to facilitate a greater focus on research and development services.
The closing of the transaction is conditioned upon final consent from
DynCorp and the Government.
Mr. Jon M. Stout, Hadron's President and CEO, said, "The transfer of this
contract is another step forward for Hadron, as we maximize the strength of
the Company's core competencies, while eliminating contracts not within our
areas of focus." He added, "As part of our new strategic approach to growing
Hadron's core business, we have an intense focus on eliminating excess costs
and adding new business. We are pleased to note that Hadron's operations
showed a profit in April, which will be augmented by this transaction."
"Our company looks forward to a long and productive relationship with
DynCorp and DARPA," said Dr. Howard C. Whetzel, President of Nighthawk and a
former member of Hadron's Board of Directors.
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. Hadron can be found on the Internet at
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.
/CONTACT: Amber Gordon, Executive Vice President of Hadron, Inc.,
703-329-9400 ext 311, or email: agordon@hadron.com/
17:05 EDT
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