DynCorp reports sales decline

DynCorp International's parent company this week reported sales in its most recent quarter hit $420 million, down from $467 million in the same three-month period a year earlier.

The company reported a quarterly loss of $14.8 million, the same as its loss the prior year.

The DynAviation unit saw sales decline to $288.5 million, down from $309.9 million in the first quarter of 2015. The company reported reduced work on a State Department contract as well as an Air Force Materiel Command program, but said it won new business from the Naval Aviation Warfighting Development Center and the Saudi Arabian National Guard.

The DynLogistics business also saw sales decrease, primarily because of reductions in an Afghanistan program as well as cuts in Kuwait work.

Lou Von Thaer, DynCorp's chief executive, said during a Tuesday call with analysts the contractor is focusing on readiness, international commercial expansion and growth in the intelligence and IT markets.

He said the U.S. military is increasingly prioritizing readiness, rather than making it a bill-payer.

"Readiness is at the top of our agenda," Von Thaer said this morning. "Cost-effective readiness is really what we do at [DynCorp]."