SAN DIEGO, Nov. 10 /PRNewswire/ -- GRC International (NYSE: GRH) President
and CEO Gary Denman today will announce at the Annual American Electronics
Association investors conference in San Diego that the company has received
almost $400,000 in cash royalties from its discontinued operations. The
royalties consisted of a $318,000 final royalty payment from GRCI's former
Vindicator security business, and a $78,000 royalty payment on sales of GRCI's
former OSU(R) Network Interface for the three month period ending 12/31/98.
These cash royalties were used to reduce debt and will add to the company's
net income for the second quarter ending December 31, 1998.
Dr. Denman will be making presentations to investors registered at the San
Diego AEA Conference on November 10 and 11, 1998.
GRC International Inc., with headquarters in Vienna, Va., is a
professional services company that uses advanced computer, engineering, and
scientific technologies to help its government and commercial customers
fulfill their critical missions. Since 1961, GRCI has succeeded by providing
analytical services and tools; designing and integrating effective information
systems; and developing innovative technology-based solutions. GRC
International is publicly traded on the New York Stock Exchange under the
symbol GRH. Details about the company can be obtained on the Internet at
http://www.grci.com/ and from Company News On-Call at
http://www.prnewswire.com/.
Forward-looking statements contained in this release are subject to risks
and uncertainties that could cause actual results to differ materially. These
risks and uncertainties include the company's dependence on continued funding
of U.S. Department of Defense (DoD) programs; government contract procurement
and termination risks; the company's ability to fill required staff positions
to service the contracts granted under the DoD programs; the risk that the
company will not be sufficiently prepared for the Y2K problem and/or that the
company may incur Y2K-related liabilities; and other risks described in the
company's Securities and Exchange Commission filings.
SOURCE GRC International Inc.
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Related links:
http://www.grci.com
Company News On-Call:
http://www.prnewswire.com/comp/320275.html or fax,
800-758-5804, ext. 320275
CONTACT:
Wayne Jackson, Director, Corporate
Communications of GRC International, 703-506-5038
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