{"id":6145,"date":"2011-03-03T14:25:00","date_gmt":"2011-03-03T14:25:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/global-defense-technology-and-systems-to-be-acquired-by-ares-management-shares-soar-gtec\/6021\/"},"modified":"2011-03-03T14:25:00","modified_gmt":"2011-03-03T14:25:00","slug":"global-defense-technology-and-systems-to-be-acquired-by-ares-management-shares-soar-gtec","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-defense-technology-and-systems-to-be-acquired-by-ares-management-shares-soar-gtec\/6145\/","title":{"rendered":"Global Defense Technology and Systems to be Acquired by Ares Management; Shares Soar (GTEC)"},"content":{"rendered":"

Global Defense Technology and Systems, Inc. (NASDAQ:GTEC<\/a>) stock has touched a new high for the year with announcement of its acquisition through a cash tender offer at $24.25 per share by an affiliate of Ares Management. The transaction is valued at approximately $315 million, including the assumption of debt and prior to expenses.\u00a0 As per the terms of the agreement, the tender offer is not subject to any financing contingencies.<\/p>\n

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The company reported strong fourth quarter results, with 47% revenue growth as compared to same period previous year. The company reported fourth quarter revenues of $82.2 million, as compared to $55.8 million in the fourth quarter of 2009. This represents pro forma organic revenue growth of 37% for the fourth quarter. The company\u2019s revenue from the Technology and Intelligence Services (TIS)\u00a0 segment for the fourth quarter 2010 was $31.3 million, which reflects 23% growth over 2009. In the Force Mobility and Modernization Solutions (FMMS) segment, fourth quarter 2010 revenue was $50.9 million, which reflects 68% growth over 2009. The growth was a result of the continued strong demand for its TIS capabilities and the significant ramp in revenue from two large camp solutions orders in our FMMS business, which totaled $28 million in revenue in the fourth quarter. The total segment operating income for the fourth quarter was $8.8 million, or 10.7%. The company reported operating income of $6.7 million, or 8.1% operating margin, and diluted earnings per share (EPS) of $0.39 for the fourth quarter.<\/p>\n

The company reported revenue for the full year was $232.7 million, which reflects over 9% revenue growth compared to $212.8 million in 2009. The company\u2019s revenue from the TIS segment was $105.6 million which reflects 17% growth over 2009. The FMMS segment revenue for the full year was $127.1 million, which reflects 4% growth over 2009. The total segment operating income was $24.1 million, or 10.4% for the full year 2010. The TIS segment operating margin was 9.4% for the full year, while FMMS\u2019 was 11.1%. The company reported operating income for 2010 of $14.4 million, or 6.2% operating margin, and diluted earnings per share (EPS) of $0.96 for 2010.<\/p>\n

Global Defense Technology and Systems stock is currently trading at $24.16. The stock is up 50 percent from its previous close. Global Defense Technology and Systems shares stock touched the high of $24.38 and lowest price in today\u2019s session is $24.15.<\/p>\n

The company stock has traded in the range of $10.37 and $24.38 during the past 52 weeks. The company\u2019s market cap is $220.90 million.<\/p>\n

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Global Defense Technology and Systems, Inc. (NASDAQ:GTEC) stock has touched a new high for the year with announcement of its […]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[6],"tags":[1596],"class_list":["post-6145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot-stocks-to-watch","tag-gtec"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/6145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=6145"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/6145\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=6145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=6145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=6145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}