DRS Technologies, which has operations in Hudson and Fitchburg, posted record financial results for the fiscal 2007 third quarter ended Dec. 31, 2006.
Fiscal 2007 Q3 revenues were $680.4 million, representing an increase of 75 percent over the same quarter last year. Operating income of $76.6 million in the quarter was 71 percent higher than the $44.8 million reported for the third quarter of 2006, an increase attributable to overall higher sales volume.
Net earnings for the third quarter of fiscal 2007 were $35.1 million, 78 percent above net earnings $19.7 million for the same quarter last year.
“DRS posted excellent results for the three- and nine- month periods,” said Mark Newman, DRS Technologies’ chairman, president, and CEO. “Strong new order flow during the third quarter contributed to a record funded backlog at December 31 that exceeded $3 billion for the first time. The results year to date place the company in an exceptional position to complete the fiscal year in outstanding form.”
