Exhibit 99.1

DYNAMIC MATERIALS REPORTS SECOND QUARTER FINANCIAL RESULTS

Q2 Diluted EPS Improves to $0.29 from $0.23 in Year-ago Second Quarter

on 42% Increase in Sales and Improved Gross Margin

BOULDER, Colo. — August 2, 2011 — Dynamic Materials Corporation (DMC) (Nasdaq: BOOM), a diversified provider of industrial products and services, and the world’s leading manufacturer of explosion-welded clad metal plates, today reported financial results for its second quarter ended June 30, 2011.

Second quarter sales were $54.2 million, up 42% from $38.3 million in the second quarter last year, and a 19% sequential improvement from sales of $45.6 million in this year’s first quarter. The better-than-forecast results were primarily driven by expedited shipment activity at the Company’s U.S. Explosive Metalworking operations.

Gross margin was 29%, up from 24% in last year’s second quarter and 23% in the first quarter.  The gross margin improvement is largely attributable to a more favorable product mix and a somewhat stronger pricing environment in certain of DMC’s Explosive Metalworking end markets.

Operating income was $5.9 million, up 183% from $2.1 million in last year’s second quarter and a 294% improvement from $1.5 million in the 2011 first quarter. Net income was $3.9 million, or $0.29 per diluted share, an increase of 27% from net income of $3.0 million, or $0.23 per diluted share, in the year-ago second quarter and a 416% improvement from net income of $750,000, or $0.06 per diluted share, in the first quarter.

Second quarter adjusted EBITDA was $9.5 million, a 73% improvement from $5.5 million in last year’s second quarter, and an 88% increase from $5.1 million in the first quarter.  Adjusted EBITDA is a non-GAAP (generally accepted accounting principle) financial measure used by management to measure operating performance.  See additional information about adjusted EBITDA at the end of this news release, as well as a reconciliation of adjusted EBITDA to GAAP measures.

Explosive Metalworking

DMC’s Explosive Metalworking segment recorded second quarter sales of $35.8 million, up 34% from sales of $26.7 million in the same quarter of 2010.  Operating income increased 125% to $5.6 million from $2.5 million in the 2010 second quarter, while adjusted EBITDA was $7.1 million, an improvement of 84% from $3.9 million in last year’s second quarter.  Despite a $9.7 million sequential improvement in sales, backlog only declined to $54.0 million from $58.5 million at the end of the first quarter.

Oilfield Products

Sales at DMC’s Oilfield Products segment increased 82% to $15.7 million from $8.7 million in the 2010 second quarter. Excluding incremental sales contributions of $2.2 million from operations

acquired during last year’s second quarter, Oilfield Product sales increased $4.8 million, or 56%, versus the comparable year-ago quarter. Operating income was $1.2 million versus $134,000 in the prior year’s second quarter, while adjusted EBITDA was $2.3 million compared with $1.2 million in the 2010 second quarter.

AMK Welding

DMC’s AMK Welding segment reported second quarter sales of $2.7 million versus $2.9 million in the same quarter of 2010.  Operating income was $702,000 compared with $865,000 in the comparable year-ago quarter.  The segment recorded adjusted EBITDA of $821,000 versus $980,000 in the comparable quarter last year.

Management Commentary

“Both Explosive Metalworking and Oilfield Products, our core business segments, delivered another quarter of very respectable sales growth and improved profitability,” said Yvon Cariou, president and CEO. “Our U.S. cladding team capitalized on timely metal arrivals at our Mt. Braddock, Pennsylvania facility, and was able to quickly complete shipments on two large orders.  This strong production performance illustrates the efficiency and flexibility of our explosion welding operating platform.  Meanwhile, our Oilfield Products segment continued to benefit from a very active oil and gas drilling environment, as well as from our expanding international manufacturing and distribution network.”

“We continue to see encouraging signs in several of our industrial processing end markets that capital spending momentum is improving,” Cariou added.  “While the fragility of the global economic recovery continues to make forecasting a challenging process, we nevertheless remain optimistic about the long-range prospects for all three of our business segments.”

Guidance

Rick Santa, senior vice president and chief financial officer, said, “We are raising our 2011 sales-growth forecast to between 28% and 30% versus fiscal 2010. Our prior forecast called for year-over-year growth of between 24% and 28%.  The significant pricing pressure our Explosive Metalworking segment experienced during much of fiscal 2010 has begun to ease, and we have therefore elevated our 2011 consolidated gross margin forecast to between 26% and 28% versus our previously guided range of 24% and 26%.”

Santa said that in light of the stronger-than-expected shipments achieved in the second quarter, third quarter sales are expected to be flat to down 5% from those reported in the most recent quarter.  Third quarter gross margin is expected to be in a range of 27% to 28%.

DMC’s blended effective tax rate for fiscal 2011 is now projected in a range of between 26% and 28% versus the previously forecasted range of 25% to 28%.  The Company’s tax rate is expected to rise to a normalized level of between 28% and 30% in years thereafter.

Six-month Results

Sales for the six-month period increased 45% to $99.7 million versus $68.6 million in the comparable period of 2010. Gross margin was 26% versus 24% in the same period a year ago. Operating income improved 217% to $7.4 million from $2.3 million in the prior year’s six-month period. Net income was $4.6 million, or $0.35 per diluted share, an increase of 76% compared with net income of $2.6 million, or $0.20 per diluted share, at the six-month mark last year. Adjusted EBITDA was $14.6 million compared with $9.0 million in the same period a year ago.

The Explosive Metalworking segment reported six-month sales of $61.8 million, up 29% from $48.0 million in the first half of 2010.  The segment reported operating income of $7.2 million, up 66% from $4.3 million in the same period a year ago.  Adjusted EBITDA was $10.1 million versus $7.1 million in the comparable year-ago period.

Six-month sales at DMC’s Oilfield Products segment increased 109% to $32.8 million from $15.7 million in last year’s six-month period.  The segment reported operating income of $2.1 million versus an operating loss of $326,000 in the same period a year ago.  Six-month adjusted EBITDA was $4.4 million versus $1.6 million in the prior-year’s six-month period.

AMK Welding recorded six-month sales of $5.1 million compared with $5.0 million in the comparable year-ago period. Operating income was $1.2 million versus $1.1 million in the prior-year period.  Adjusted EBITDA at the six-month mark was $1.4 million compared with $1.4 million in the same period a year ago.

Conference call information

Management will hold a conference call to discuss these results today at 5:00 p.m. Eastern (3:00 p.m. Mountain).  Investors are invited to listen to the call live via the Internet at www.dynamicmaterials.com, or by dialing into the teleconference at 877-407-8031 (201-689-8031 for international callers).  No passcode is necessary.  Participants should access the website at least 15 minutes early to register and download any necessary audio software. A replay of the webcast will be available for 90 days and a telephonic replay will be available through August 9, 2011, by calling 877-660-6853 (201-612-7415 for international callers) and entering the Account Number 286 and the passcode 375989.

Use of Non-GAAP Financial Measures

Non-GAAP results are presented only as a supplement to the financial statements based on U.S. generally accepted accounting principles (GAAP). The non-GAAP financial information is provided to enhance the reader’s understanding of DMC’s financial performance, but no non-GAAP measure should be considered in isolation or as a substitute for financial measures calculated in accordance with GAAP. Reconciliations of the most directly comparable GAAP measures to non-GAAP measures are provided within the schedules attached to this release.

EBITDA is defined as net income plus or minus net interest plus taxes, depreciation and amortization. Adjusted EBITDA excludes from EBITDA stock-based compensation and, when appropriate, other items that management does not utilize in assessing DMC’s operating performance (as further described in the attached financial schedules). None of these non-GAAP financial measures are recognized terms under GAAP and do not purport to be an alternative to net income as an indicator of operating performance or any other GAAP measure.

Management uses these non-GAAP measures in its operational and financial decision-making, believing that it is useful to eliminate certain items in order to focus on what it deems to be a more reliable indicator of ongoing operating performance and the company’s ability to generate cash flow from operations. As a result, internal management reports used during monthly operating reviews feature the adjusted EBITDA. Management also believes that investors may find non-GAAP financial measures useful for the same reasons, although investors are cautioned that non-GAAP financial measures are not a substitute for GAAP disclosures. EBITDA and adjusted EBITDA are also used by research analysts, investment bankers and lenders to assess operating performance. For example, a measure similar to EBITDA is required by the lenders under DMC’s credit facility.

Because not all companies use identical calculations, DMC’s presentation of non-GAAP financial measures may not be comparable to other similarly titled measures of other companies. However, these measures can still be useful in evaluating the company’s performance against its peer companies because management believes the measures provide users with valuable insight into key components of GAAP financial disclosures. For example, a company with greater GAAP net income may not be as appealing to investors if its net income is more heavily comprised of gains on asset sales. Likewise, eliminating the effects of interest income and expense moderates the impact of a company’s capital structure on its performance.

All of the items included in the reconciliation from net income to EBITDA and adjusted EBITDA are either (i) non-cash items (e.g., depreciation, amortization of purchased intangibles and stock-based compensation) or (ii) items that management does not consider to be useful in assessing DMC’s operating performance (e.g., income taxes and gain on sale of assets). In the case of the non-cash items, management believes that investors can better assess the company’s operating performance if the measures are presented without such items because, unlike cash expenses, these adjustments do not affect DMC’s ability to generate free cash flow or invest in its business. For example, by adjusting for depreciation and amortization in computing EBITDA, users can compare operating performance without regard to different accounting determinations such as useful life. In the case of the other items, management believes that investors can better assess operating performance if the measures are presented without these items because their financial impact does not reflect ongoing operating performance.

About Dynamic Materials Corporation

Based in Boulder, Colorado, Dynamic Materials Corporation serves a global network of industrial customers through two core business segments: Explosive Metalworking and Oilfield Products; as well as a specialized industrial service provider, AMK Welding. The Explosive Metalworking segment is the world’s largest manufacturer of explosion-welded clad metal plates, which are used to fabricate capital equipment utilized within various process industries and other industrial sectors. Oilfield Products is an international manufacturer and marketer of advanced explosive components and systems used to perforate oil and gas wells.  AMK Welding utilizes various specialized technologies to weld components for use in power-generation turbines, and commercial and military jet engines. For more information, visit the Company’s websites at: http://www.dynamicmaterials.com and http://www.dynaenergetics.de.

Safe Harbor Language

Except for the historical information contained herein, this news release contains forward-looking statements, including our guidance for third quarter and full-year 2011 sales, margins and tax rates, growth and diversification prospects, as well as expectations about business conditions and growth opportunities, all of which involve risks and uncertainties.  These risks and uncertainties include, but are not limited to, the following: our ability to realize sales from our backlog; our ability to obtain new contracts at attractive prices; the size and timing of customer orders and shipments; fluctuations in customer demand; our ability to successfully source and execute upon acquisition opportunities; fluctuations in foreign currencies, changes to customer orders; the cyclicality of our business; competitive factors; the timely completion of contracts; the timing and size of expenditures; the timing and price of metal and other raw material; the adequacy of local labor supplies at our facilities; current or future limits on manufacturing capacity at our various operations; the availability and cost of funds; and general economic conditions, both domestic and foreign, impacting our business and the business of the end-market users we serve; as well as the other risks detailed from time to time in the Company’s SEC reports, including the report on Form 10-K for the year ended December 31, 2010.

DYNAMIC MATERIALS CORPORATION & SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2011 AND 2010

(Dollars in Thousands, Except Share Data)

(unaudited)

DYNAMIC MATERIALS CORPORATION & SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Dollars in Thousands)

(unaudited)

DYNAMIC MATERIALS CORPORATION & SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2011 AND 2010

(Dollars in Thousands)

(unaudited)

DYNAMIC MATERIALS CORPORATION & SUBSIDIARIES

RECONCILIATIONS OF NON-GAAP FINANCIAL MEASUREMENTS TO MOST

DIRECTLY COMPARABLE GAAP FINANCIAL MEASUREMENTS

(Dollars in thousands)

DYNAMIC MATERIALS CORPORATION & SUBSIDIARIES

RECONCILIATIONS OF NON-GAAP FINANCIAL MEASUREMENTS TO MOST

DIRECTLY COMPARABLE GAAP FINANCIAL MEASUREMENTS

(Dollars in thousands)