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DLH Holdings Corp. (NASDAQ: DLHC) is a leading provider of technology-enabled business process outsourcing and program management solutions in the United States. The company leverages digital transformation, artificial intelligence, analytics, cloud-based applications, and telehealth systems to support large-scale federal health and human services initiatives. DLH's mission is to be the most trusted provider of technology-enabled healthcare and public health services, medical logistics, and readiness enhancement services to those securing the freedom of our nation, veterans, and underserved communities.
DLH delivers professional healthcare and public services to several government agencies, including the U.S. Departments of Defense, Health and Human Services, and Veterans Affairs. The company is engaged in key areas such as defense and veterans health solutions, human services and solutions, and public health and life sciences. With more than 3,200 employees working across 30 states, DLH brings a unique combination of government sector experience and commitment to innovation.
DLH has been recognized by GovWin IQ as a top service provider in the health services spending category. Recently, the company has seen significant growth and further debt reduction, positioning it well for future endeavors. The company continually strives to enhance technology, public health, and cybersecurity readiness through science, technology, cyber, and engineering solutions and services.
One notable achievement is DLH's new award with the National Institute on Drug Abuse (NIDA), valued at approximately $23 million. This contract includes managing the operations of an integrated advanced clinical/research informatics system, supporting the research, design, development, and maintenance of clinical and scientific informatics, and providing IT infrastructure and desktop support. This partnership underscores DLH’s commitment to delivering superb execution and excellence in public health services.
Financially, DLH has reported a positive trajectory with increased income from operations, higher net income, and a robust backlog of projects. For the first quarter of fiscal 2024, the company recorded income from operations of $6.8 million, and net income of approximately $2.2 million, showing significant improvement compared to the previous year. As of the latest updates, the total backlog stands at approximately $736.2 million, signaling strong future performance and continued growth.
DLH Holdings Corp. (NASDAQ: DLHC) announced a contract award for its subsidiary Grove Resource Solutions LLC to support the Naval Information Warfare Center (NIWC) Atlantic. The contract, valued at $14.6 million, includes a base period of one year with four optional one-year extensions. DLH will provide comprehensive services including cybersecurity hardening, IT imaging management, and supply chain management, enhancing capacity planning and asset tracking for government systems. The contract reinforces DLH's dedication to national security and its partnership with the Navy, focusing on delivering secure and innovative IT solutions.
DLH Holdings Corp. (NASDAQ: DLHC) has elected Judith L. Bjornaas to its Board of Directors during the annual meeting on March 9, 2023. Bjornaas previously served as Executive Vice President and CFO at ManTech International Corporation, bringing extensive experience in government and commercial technology. DLH President & CEO Zach Parker highlighted her leadership as crucial for the company’s growth strategy. Bjornaas expressed enthusiasm about contributing to DLH's innovative technology solutions. Shareholder meeting results will be disclosed in a Form 8-K filing with the SEC and on DLH's investor relations website.
DLH Holdings Corp. (NASDAQ: DLHC) has announced that its subsidiary, Grove Resource Solutions LLC (GRSi), secured a blanket purchase agreement (BPA) to provide IT services to the National Cancer Institute (NCI). The BPA spans five years with an estimated $1.7 billion ceiling. GRSi has previously supported NCI's CBIIT since 2018. Under this agreement, DLH will serve as a prime vendor, offering services such as operations and maintenance, information systems security, and cloud platform management. DLH aims to enhance NCI's research efforts while addressing complex health challenges.
DLH Holdings Corp. (NASDAQ: DLHC) reported its fiscal Q1 2023 results, with revenue of $72.7 million, down from $152.8 million in Q1 2022, largely due to reduced FEMA contract contributions. The company completed the acquisition of Grove Resource Solutions (GRSi), contributing $6.9 million in revenue. Adjusted net income rose to $3.6 million from $3.1 million, with adjusted diluted EPS of $0.25. Total debt decreased to $203.4 million as of December 31, 2022. Contract backlog reached $942.7 million, indicating a strong pipeline for future revenue.
DLH Holdings Corp. (NASDAQ: DLHC) announced it will release financial results for its fiscal first quarter ended December 31, 2022, on February 8, 2023, after market close. A conference call for investors is scheduled for February 9, 2023, at 10:00 a.m. Eastern Time, where senior management will discuss the financial results and operational trends, followed by a Q&A session. Interested parties can participate by calling 888-347-5290 or 412-317-5256. Presentation materials will be available prior to the call on the Investor Relations section of the DLH website.
DLH Holdings Corp. (NASDAQ: DLHC) has acquired Grove Resource Solutions, Inc. (GRSi) for $185 million, aiming to enhance its digital transformation and cybersecurity offerings. This acquisition adds approximately 700 employees and is expected to contribute around $140 million in annual revenue. GRSi's backlog stands at about $550 million, fortifying DLH's presence in the federal services sector. The acquisition is financed through an amendment to DLH's secured credit facility, reflecting a strategic move to strengthen its market position.
DLH Holdings Corp. (NASDAQ: DLHC) reported its financial results for the fiscal fourth quarter ending September 30, 2022, revealing a 3% year-over-year revenue increase to $67.2 million and $395.2 million for the full fiscal year, boosted by FEMA contracts. Earnings per share rose to $0.24 in Q4 and $1.64 for the year. Debt was reduced to $22.0 million from $46.8 million. The company maintains a substantial contract backlog of $482.5 million, positioning it well for future growth amid ongoing demand for its services.
DLH Holdings Corp. (NASDAQ: DLHC) has announced its participation in the Truist Industrials & Services Summit on December 6, 2022, at the JW Marriott Essex House Hotel in New York. The event will feature one-on-one meetings with management, allowing institutional investors to engage directly. A presentation will also be accessible on the Company’s website.
DLH is dedicated to providing healthcare and human services solutions to federal government programs, with over 2,300 employees committed to public health innovation.
DLH Holdings Corp. (NASDAQ: DLHC) will report its financial results for the fiscal fourth quarter ending September 30, 2022, on December 5, 2022, before market opening. The company will host a conference call at 10:00 a.m. ET the same day, where senior management will present financial results and operational trends, followed by a Q&A session. Interested stakeholders can listen in by dialing the provided numbers, and materials will be accessible on their Investor Relations website. DLH focuses on innovative health and readiness solutions for federal programs.
DLH Holdings Corp. (NASDAQ: DLHC) has announced that the Department of Veterans Affairs' Consolidated Mail Order Pharmacy (CMOP) program achieved the highest customer satisfaction rating in J.D. Power's 2022 U.S. Pharmacy Study. CEO Zach Parker emphasized the program's ability to maintain this satisfaction despite challenges like labor market issues and inflation. The study is based on thousands of customer responses and reinforces DLH's commitment to providing essential services to Veterans.
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