Duratek (NASDAQ:DRTK)
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From Jun 2019 to Jun 2024
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Duratek, Inc. (NASDAQ:DRTK) today announced that it
expects 2005 revenues to be in the range of $280 million to $286
million, compared to 2004 reported revenues of $286 million. The 2005
revenue outlook reflects a lower than anticipated level of new
Commercial work required to offset projects completed during the year,
a lengthening of the sales cycle in the Company's Federal business,
and no international work awarded to date. As a result, Duratek may
moderately reduce its accelerated debt payoff target of $15 - $17
million for the year.
Robert E. Prince, President and CEO said, "We have been working
very hard to strategically position the Company to be a winner in our
changing markets. Our short-term growth rate is not where we wanted it
to be. We believe the long term trends in the Federal Department of
Energy cleanup, commercial nuclear market, and international markets
will present favorable opportunities for Duratek."
Duratek provides safe, secure radioactive materials disposition
and nuclear facility operations for commercial and government
customers.
Certain statements contained in this press release may constitute
"forward-looking statements" within the meaning of Section 21E(i)(1)
of the Securities Exchange Act of 1934. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause Duratek's actual results to be materially
different from any future results expressed or implied by these
statements. Such factors include the following: the Company's ability
to manage its commercial waste processing operations, the timing and
award of contracts by the U.S. Department of Energy for the cleanup of
waste sites administered by it; the acceptance and implementation of
the Company's waste treatment technologies in the government and
commercial sectors; and other large technical support services
projects; the Company's ability to successfully add revenues from new
contracts; and the timing of completing existing contracts. All
forward-looking statements are also expressly qualified in their
entirety by the cautionary statements included in the Company's SEC
filings, including its quarterly reports on Form 10-Q and its annual
report on Form 10-K. Except as required under federal securities laws
and the rules and regulations of the SEC, we do not have any intention
or obligation to update or revise any forward-looking statement made
herein.