Intell work drives CACI to record-setting numbers

CACI International Inc. reported record-setting numbers for both its first half and second quarter of its fiscal 2012, with second-quarter revenue of $973.2 million, a 12.2 percent increase from the $867.3 million in the second-quarter of fiscal 2011.

Revenue, operating income and net income all reached record levels in the first half of 2012, with revenue growing 11.5 percent with the strongest increases in intelligence, surveillance and reconnaissance (ISR) and other intelligence-related solutions, according to the company's Feb. 1. announcement. CACI's fiscal year runs from July 1 to June 30.

Operating income and net income also increased in the first half of the fiscal year, which CACI attributed to “solid growth in direct labor and other direct costs, ongoing cost control, product sales, and strong performance on a fixed price contract for which work is nearing completion.”

Net income rose to $41.1 million in second-quarter fiscal 2012 from $33.2 million in the corresponding quarter in 2011, a 23.5 percent increase.

Contract funding orders in the second quarter were $605 million, an increase of 17 percent, compared to $515 million in the fiscal 2011 quarter.

Funded backlog as of Dec. 31 was $2.19 billion, compared to $2.18 billion a year earlier. Total backlog was $8 billion compared with $7.45 billion for the same period the year before.

Company President and CEO Paul Cofoni attributed the second quarter revenue growth mainly to its ISR work and to the government transformation.

"Our record second quarter performance confirms CACI's strategy to align our solutions with the government's highest priorities in defense, intelligence, homeland security, and government transformation,” he said in the statement.

CACI received second-quarter contract awards worth an estimated $962 million, an increase of 88 percent compared with $512 million in the year earlier quarter.

Over 75 percent of these awards were for recompeted or extended business.

Second quarter awards included:

• A prime position on the Office of Personnel Management’s $2.5 billion, four-year 10 month, indefinite delivery, indefinite quantity contract to provide background investigation field services. The award contributed $250 million in estimated value to the second-quarter awards total reported above.
• $189 million in previously unannounced intelligence awards for both new and recompeted work.
• $175 million for a five-year contract to continue to provide integrated security solutions consulting, training and related services in support of a major joint military organization.
• A $39 million task order for the Defense Information System for Security to support the Defense Logistics Agency in developing a standards-based IT system to modernize and streamline the security clearance process.
• A five-year, $37 million contract to provide technical support services that will help facilitate the continued development, testing and deployment of the Navy's Enterprise Resource Planning Single Supply Solution program.

The company also won a prime position on a five-year, multiple-award, $9.7 billion task order contract to provide translation and interpretation services for the U.S. Army's Intelligence and Security Command.

CACI International Inc., of Arlington, Va., ranks No. 14 on Washington Technology’s 2011 Top 100 list of the largest federal government contractors.