Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (43189)	6/4/1999 1:37:00 PM
From: kendall harmon	Respond to of 120523

DPRC earnings were already out yesterday morning--I get the dingbat award. I still like the accumulation we are seeing. Thursday June 3, 08:00 AM Eastern time Company Press Release SOURCE: Data Processing Resources Corporation Reports Record Financial Results For The Third Fiscal Quarter Revenue Up 32%, Net Income Up 59%, EPS Up 44% NEWPORT BEACH, Calif., June 3 /PRNewswire/ -- Data Processing Resources Corporation (Nasdaq: DPRC), today reported record revenues, net income and earnings per share for the third fiscal quarter and nine months ended April 30, 1999. Chairman and Chief Executive Officer, Mary Ellen Weaver, commented on the company's financial results, stating, "We believe that the financial results for the third quarter, highlighted by a substantial increase in our operating and net margins, serve to validate our recent expansion and integration strategy. In addition to achieving record financial results, we positioned the company for continued revenue and profitability growth during the third quarter through several key strategic moves, including the hiring of Tom Vadnais as President and COO, the opening of five new offices and an increased penetration of our Fortune 1000 client base. Operating Results The following financial results for all presented periods reflect the inclusion of Systems & Programming Consultants, Inc., which was merged with DPRC on December 21, 1998 and accounted for as a pooling of interests. Revenues for the third quarter of 1999 rose by 32.4 to a record 93.2 million, compared to the 70.4 million reported in the prior year period. Gross margins rose to 29.8 for the third quarter of fiscal 1999, compared to 29.2 for the third quarter of fiscal 1998. Earnings before interest, taxes and amortization ("EBITA") for the third quarter of 1999 grew to 11.5 million, a 57.8 increase from the 7.3 million reported in the prior year. The 1999 third quarter EBITA margin rose to 12.4 as a percentage of revenues compared to the 10.4 achieved in the third quarter of 1998. Net income in the third quarter of fiscal 1999 increased by 59.0, to 5.1 million, or 5.4 of revenue versus 3.2 million, or 4.5 of revenue, reported in the third quarter of fiscal 1998. Earnings per share on a diluted basis for the third quarter equaled 0.33, a 43.5 increase over the 0.23 per share earned in the same period last year, on a 30.3 increase in diluted weighted average shares outstanding. For the nine months ended April 30, 1999, revenues climbed by 50.1 to a record 274.5 million, compared to 182.9 million reported in the first nine months of fiscal 1998. Gross margins for the first nine months of 1999 were 30.2, versus 28.3 in the comparable period in 1998. EBITA, excluding merger-related expenses, for the first nine months rose 88.8 to 33.7 million, compared to 17.8 million for first nine months of 1998. The EBITA margin for the first nine months of 1999 grew to 12.3, a 250 basis point increase over the 9.8 margin in the comparable period in 1998. Net income excluding merger-related charges for the nine months increased by 77.6 to 15.1 million, or 5.5 of revenue, compared to the 8.5 million, or 4.7 of revenue, earned in the same nine month period last year. Diluted earnings per share excluding merger-related charges for the first nine months of 1999 increased by 61.3 to 1.00 compared to 0.62 per share earned in 1998.