2005 Post 200
Duratek Inc.
10100 Old Columbia Rd.
Columbia, Md. 21046
www.duratekinc.com
Industry: government services
Post 200 Category: Top 125 Companies
Revenue: $286.21 Million
Net Income/Loss: $21.05 Million
Earnings per share: $1.42
Dividend: n/a
Stockholder equity: $68.33 Million
Auditor: KPMG LLP
Stock: DRTK
Assets: $268.54 Million
Market capitalization: $276.83 Million
52-week high: 28.5 2/1/2005
52-week low: 12.39 5/11/2004
President and CEO: Robert E. Prince
CFO: Robert F. Shawver
Employees: 1225
Local employees: 90
Description: Duratek processes, transports and disposes of radioactive material and other hazardous waste. About 60 percent of the company's revenue came from commercial clients last year, including nuclear utilities and universities. The remainder came from the federal government. Its main federal client is the Energy Department, which hires Duratek to help clean up waste, most of it from Cold War era nuclear plants and weapons development facilities.
Developments: Carlyle Group, the biggest investor in Duratek since 1995, finished cashing in its Duratek holdings in December as part of a planned exit. Carlyle sold 5 million shares of preferred stock back to Duratek last year for $9.74 a share and moved another 3 million shares in common stock in block trades at share prices of $15 and $19. Daniel A. D'Aniello, a founding partner of Carlyle Group, stepped down as Duratek's chairman. Retired Adm. Bruce DeMars, former director of the Naval Nuclear Propulsion Program, joined the board and took over as chairman in December. Meanwhile, Francis J. Harvey resigned from Duratek's board in November after President Bush appointed him secretary of the U.S. Army. Robert Prince, Duratek's president and chief executive, told analysts during a call in February that his company extended its contract for two more years at Hanford, a 586-square-mile Energy Department site in Washington state that was created as part of the Manhattan Project to produce plutonium. Hanford is the world's largest environmental cleanup project. Work outside the United States made up a small part of Duratek's portfolio in the past, but the company hopes to do more work overseas. Duratek is exploring contract opportunities for cleanup projects in China and Britain.