Navy wins help propel CACI to record third quarter

Company also attributes mark to higher operating income, reduced net interest expense and lower corporate tax rate

CACI International Inc. reported record net income of $26.7 million, or $0.87 diluted earnings per share, for fiscal third-quarter 2010, which ended March 31.

That was a 21.6 percent increase over the $22 million net income, or $0.72 diluted earnings per share, for the same period last year, according to a CACI announcement released after markets closed April 28.

The company attributed the growth of net income and diluted earnings per share to “higher operating income, reduced net interest expense and a lower corporate tax rate due primarily to the performance of investments in CACI’s deferred compensation plan and tax benefits related to software development,” the announcement stated.

The 16.3 percent increase in revenue in the quarter was driven by organic growth of 14.2 percent, reflecting the continued strong performance of CACI’s defense and intelligence businesses, the company said.

The company also reported $886 million in contract orders, a 19.2 percent increase over third-quarter fiscal 2009. Funded backlog was $1.9 billion, a 17 percent increase over the third quarter of fiscal 2009. Total backlog was $7.3 billion.

Among contract wins cited by CACI was a prime position on a new multiple-award, indefinite-delivery, indefinite-quantity five-year task order with a ceiling of $588 million to support the Navy’s Space and Naval Warfare (Spawar) Systems Command’s command and control operations.

Additional contract awards with an estimated value of $455 million included a $219 million Navy award to provide command, control, communications, computers, intelligence, surveillance, reconnaissance (C4ISR), and business software and maintenance services to the Spawar Systems Center Atlantic for up to five years and $65 million in previously unannounced awards from the intelligence community.

The company also completed its acquisition of SystemWare Inc., a $16 million designer, manufacturer and provider of signals acquisition and analysis systems that can monitor and detect cybersecurity vulnerabilities.

“We exceeded our financial goals of mid- to high-single-digit organic revenue growth and double-digit earnings growth," said Paul Cofoni, CACI president and chief executive officer, in the statement. "We continued to experience growth in all of our core competencies, with another particularly strong quarter from C4ISR Integration Services."

CACI International, of Arlington, Va., ranks No. 20 on Washington Technology’s 2009 Top 100 list of the largest federal government prime contractors.



About the Author

David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close
SEARCH
contracts DB

Trending

  • Dive into our Contract Award database

    In an exclusive for WT Insider members, we are collecting all of the contract awards we cover into a database that you can sort by contractor, agency, value and other parameters. You can also download it into a spreadsheet. Read More

  • Is SBA MIA on contractor fraud? Nick Wakeman

    Editor Nick Wakeman explores the puzzle of why SBA has been so silent on the latest contractor fraud scandal when it has been so quick to act in other cases. Read More

Webcasts

  • How Do You Support the Project Lifecycle?

    How do best-in-class project-based companies create and actively mature successful organizations? They find the right mix of people, processes and tools that enable them to effectively manage the project lifecycle. REGISTER for this webinar to hear how properly managing the cycle of capture, bid, accounting, execution, IPM and analysis will allow you to better manage your programs to stay on scope, schedule and budget. Learn More!

  • Sequestration, LPTA and the Top 100

    Join Washington Technology’s Editor-in-Chief Nick Wakeman as he analyzes the annual Top 100 list and reveals critical insights into how market trends have impacted its composition. You'll learn what movements of individual companies means and how the market overall is being impacted by the current budget environment, how the Top 100 rankings reflect the major trends in the market today and how the biggest companies in the market are adapting to today’s competitive environment. Learn More!