DLH Co.

DLH Holdings has appointed Brooke Pierce, effective immediately, as President, Health. She will lead the health business, which encompasses technology, scientific research, data analytics, artificial intelligence and supporting services for federal agencies, and will be responsible for strategy, operational execution and client relationships. Pierce brings nearly 20 years of experience in federal health programs and most recently led an IT program with more than $600 million in annual revenue and about 2,000 employees. » Mere på de.investing.com

DLH Holdings has signed a second amendment to its loan agreement with the lending syndicate, adjusting the definitions of consolidated EBITDA and Total Funded Debt. EBITDA can now include losses from the lease termination in Silver Spring and cash restructuring charges, and may add pro‑forma revenue from material new orders up to $3.0 million. Unused letters of credit from the veterans program are excluded from total liabilities, and covenants have been relaxed (leverage ratio up to 5.0/5.5, minimum fixed charge coverage at 1.05). The credit facility remains secured; the secured first‑lien loan was amortized to $122 million until the amendment takes effect. The company had earlier reported weaker Q2 results with EPS of -$0.17 and revenue of $59.3 million. » Mere på de.investing.com

DLH Holdings reported Q2 EPS of -$0.17 (expectation -$0.08) and revenue of $59.3 million versus $65 million expected. Revenue fell 33.5% year over year and adjusted EBITDA declined 43.6% to $5.3 million, while the adjusted EBITDA margin was maintained at 9.0%. The company attributes the weakness to contract transitions to smaller award structures and reduced debt by $3.9 million to $132.7 million. The stock fell after the results and approached its 52-week low. » Mere på de.investing.com