CACI Profit Up 15 Percent
From the Associated Press
CACI International of Arlington said its first-quarter profit rose 15 percent, to $21 million (69 cents a share) from $18.3 million (60 cents), as it secured more valuable contracts with the Defense Department, state and local governments, and federal civilian agencies. Revenue grew 18 percent, to $654.8 million from $372.4 million.
Its results were driven by higher Department of Defense revenue, which jumped 22 percent to $493 million, as well as stronger revenue from federal civilian agencies, which saw a rise of 12 percent. Sales derived from state and local governments grew 15 percent, while its commercial revenue dropped nearly 5 percent.
Contract funding orders totaled $943 million, up 33 percent increase over the year-ago period.
For the full year, CACI backed its forecast of a per-share profit of $2.90 to $3.10, with revenue of $2.55 billion to $2.65 billion.
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