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News

DRS in top 25 US growth companiestest.

DRS Technologies : 01 February, 2008  (Company News)
Forbes Magazine recognises DRS Technologies for revenue growth over the past five years.
DRS Technologies has been named as one of "America's 25 Fastest Growing Tech Companies" in a special report published on January 24, 2008 by Forbes Magazine. The company was ranked 14 on the list.

According to Forbes, it required at least 10 percent annual revenue growth over the past five years, profitability over the past 12 months and a Thomson IBES consensus earnings forecast of at least 10 percent annual earnings growth over the next three to five years in order for companies to make this list. Companies with significant legal problems or with possible accounting or corporate governance issues were excluded.

"The selection of DRS Technologies by Forbes as one of America's 25 Fastest Growing Tech Companies reflects the continued expansion of the company and our future growth prospects," said Mark Newman, DRS Technologies' chairman, president and chief executive officer. "As an industry leader in defence technology, DRS is strategically positioned to continue to provide superior products, systems, services and integrated solutions to military, government intelligence and homeland security customers to help them address the complex challenges facing them today and achieve maximum readiness for tomorrow."

For its fiscal year ended March 31, 2007, DRS's revenues increased 63 percent to $2.82 billion over the prior fiscal year. Diluted earnings per share were $3.12, a 17 percent increase over fiscal 2006. The company plans to report its fiscal 2008 third quarter and nine-month financial results on Friday, February 8, 2008.

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