Business
DLH Reports Third Quarter Fiscal Year 2019 Results
ATLANTA, Aug. 5, 2019 /PRNewswire/ -- DLH Holdings Corp. (NASDAQ: DLHC) ("DLH" or the "Company"), a leading provider of innovative healthcare services and
About this update from Dlh Holdings Corp.
[{"type":"text","content":"ATLANTA, Aug. 5, 2019 /PRNewswire/ -- DLH Holdings Corp. (NASDAQ: DLHC) (\"DLH\" or the \"Company\"), a leading provider of innovative healthcare services and solutions to federal agencies, today announced financial results for its fiscal third quarter ended June 30, 2019. \nHighlights\nThe Company completed the acquisition of Social & Scientific Systems (\"SSS\") of Silver Springs, Maryland on June 7, 2019; SSS contributed $4.5 million of revenue and $0.2 million of operating income in the quarter Fiscal third quarter revenue was $38.7 million versus $36.1 million in the third quarter of fiscal 2018 Fully diluted EPS of $0.06 for the quarter; excluding transaction expenses, fully diluted EPS of $0.13 for the quarter For the quarter, DLH generated $4.4 million of cash from operations and paid down $3.9 million of new debt (associated with the acquisition of SSS)Management Discussion\"The third quarter of fiscal 2019 was clearly a busy one for DLH, as we closed a strategic acquisition, posted strong gross margins, and pursued numerous business development opportunities,\" stated DLH President and Chief Executive Officer Zach Parker. \"We believe Social & Scientific Systems is an excellent addition to DLH, greatly expanding our position in the public health & life sciences arena and providing new avenues for top line growth. We are rapidly integrating SSS into our corporate culture and business enterprise, as we look for ways to collectively serve our customers while leveraging our administrative organization to remain competitive on costs. SSS – with a backlog of some $340 million – brings a great deal of complementary technology, credentialed staff, and expertise in data analytics that will strengthen the entire DLH organization and help drive solid, long-term financial results.\n\"We generated $4.4 million in cash from operations during the quarter and paid down $3.9 million on our new term loan. We remain committed to using our cash generation to de-lever the Company, bolster our balance sheet and improve our financial flexibility. Given the recent budget outline agreed to by Congress for fiscal 2020 – including higher funding for key agencies including the Department of Defense, Health and Human Services, and the Veterans Administration – we believe we are well positioned for the quarters to come.\" \nResults for ...