CACI net income grows 37 percent
- By Joab Jackson
- Aug 15, 2002
CACI International Inc. reported a 37 percent increase in net income for fiscal 2002, which ended June 30. Net income rose to $30.5 million from $22.3 million in fiscal 2001.
Officials said the growth was fueled by the company's offerings in managed network services, systems integration, knowledge management and engineering services. The company's business with the federal government grew 30 percent.
Overall revenue for the company hit $681.9 million in fiscal 2002, compared to $557.9 million in 2001, an increase of 22 percent.
For its fiscal 2002 fourth quarter, the company saw a 25 percent increase in revenue, compared to the same quarter in 2001, with revenue growing to $190.9 million from $152.6 million.
Income from continuing operations was $30.5 million for the year, an increase of 54 percent over fiscal 2001 figure of $22.3 million.
The company won $1.5 billion in federal contracts, and its contract backlog grew to $1.9 billion.
"The company continued to experience solid growth as a result of the higher levels of tasking by our customers," said J.P. "Jack" London, CACI's chairman and chief executive officer.
On Aug. 16, CACI's stock will begin trading on the New York Stock Exchange, switching from Nasdaq. Company officials will ring the opening bell at 9:30 a.m. The company is making the switch because the New York Stock Exchange is less volatile, London said.
Joab Jackson is the senior technology editor for Government Computer News.