EX-99.1 2 a4821349ex991.txt EXHIBIT 99.1
DRS TECHNOLOGIES, INC. AND SUBSIDIARIES RESTATED SELECTED CONSOLIDATED STATEMENTS OF EARNINGS DATA FOR PREVIOUS QUARTERS (UNAUDITED) (Millions Except Earnings per Share) Three Months Ended ------------------ March 31, 2004(1) June 30, 2004(1) September 30, 2004(1) -------------- -------------- ------------------ Revenues $ 339.1 $ 291.2 $ 318.1 Operating Income $ 37.9 $ 28.5 $ 33.8 Earnings from Continuing Operations $ 15.5 $ 11.0 $ 14.0 Earnings from Discontinued Operations, Net of Tax $ .8 $ .8 $ .4 Net Earnings $ 16.3 $ 11.8 $ 14.4 Basic Earnings per Share: Earnings from Continuing Operations $ .58 $ .41 $ .52 Earnings from Discontinued Operations, Net of Tax $ .03 $ .03 $ .01 Net Earnings $ .61 $ .44 $ .53 Diluted Earnings per Share: Earnings from Continuing Operations $ .57 $ .40 $ .50 Earnings from Discontinued Operations, Net of Tax $ .03 $ .03 $ .01 Net Earnings $ .60 $ .43 $ .52 1 Fiscal 2004 fourth quarter results and fiscal 2005 first and second quarter results are adjusted to reflect discontinued operations, due to the Company's decision to sell its DRS Broadcast Technology and DRS Weather Systems, Inc. units in the third quarter of fiscal 2005.
DRS TECHNOLOGIES, INC. AND SUBSIDIARIES RESTATED SEGMENT RESULTS FOR PREVIOUS QUARTERS (UNAUDITED) ($ Millions) Three Months Ended ------------------ March 31, 2004 (1),(2) June 30, 2004(1),(2) September 30, 2004(1) -------------- ------------- ------------------ Revenues C4I Group $ 172.1 $ 158.6 $ 168.1 Surveillance & Reconnaissance Group 167.0 132.6 150.0 Other - - - ------------------------------------------------------------------------------------------------- Consolidated $ 339.1 $ 291.2 $ 318.1 ------------------------------------------------------------------------------------------------- Operating Income C4I Group $ 20.0 $ 15.1 $ 17.5 Surveillance & Reconnaissance Group 17.8 13.4 16.3 Other .1 - - ------------------------------------------------------------------------------------------------ Consolidated $ 37.9 $ 28.5 $ 33.8 ------------------------------------------------------------------------------------------------ Operating Margin C4I Group 11.6% 9.5% 10.4% Surveillance & Reconnaissance Group 10.7% 10.1% 10.9% Other - - - Consolidated 11.2% 9.8% 10.6% ------------------------------------------------------------------------------------------------ Bookings C4I Group $ 147.8 $ 148.8 $ 178.1 Surveillance & Reconnaissance Group 137.5 194.5 157.6 Other - - - ------------------------------------------------------------------------------------------------ Consolidated $ 285.3 $ 343.3 $ 335.7 ------------------------------------------------------------------------------------------------ Backlog C4I Group $ 634.2 $ 631.8 $ 657.5 Surveillance & Reconnaissance Group 576.2 636.8 641.5 Other - - - ------------------------------------------------------------------------------------------------ Consolidated $ 1,210.4 $ 1,268.6 $ 1,299.0 ------------------------------------------------------------------------------------------------ 1 Fiscal 2004 fourth quarter results and fiscal 2005 first and second quarter results are adjusted to reflect discontinued operations, due to the Company's decision to sell its DRS Broadcast Technology and DRS Weather Systems, Inc. units in the third quarter of fiscal 2005. 2 Fiscal 2004 fourth quarter results and fiscal 2005 first quarter results are adjusted to reflect the transfer in July 2004 of the Company's DRS Data & Imaging Systems Ltd. unit from the Company's Surveillance & Reconnaissance Group to the Company's C4I Group.