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Business/Financial

Earnings Tumble At Engility In First Quarter

By Cal Biesecker

Tuesday, May 13th, 2014

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Earnings Tumble At Engility In First Quarter

Engility President and CEO Tony Smeraglinolo. Photo: Engility

Engility [EGL] on Monday reported a steep decline in its first quarter earnings due to lower sales, higher bid and proposal costs, and integration costs related to its acquisition in January of Dynamics Research Corp. (DRC). Net income slid 36 percent to $8.9 million, 50 cents earnings per share (EPS), from $13.8 million (79 cents EPS) a year ago, still nipping consensus estimates by two cents. Engility’s selling, general and administrative cots were $7 million higher in the quarter, driven…

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