C4ISR services help push CACI to record first quarter
Contractor reports revenue of $834 million to start fiscal 2011
- By David Hubler
- Oct 28, 2010
CACI International Inc. reported a historic first quarter for fiscal 2011, with a record number of contract wins and net income of $28.7 million, an increase of 20.1 percent over the $23.9 million recorded in the same period last year.
The company reported first-quarter revenue of $834 million, a 12.8 percent increase over the $739.5 million reported for the same quarter in CACI’s fiscal 2010.
The increase in first-quarter revenue was driven by organic growth of 10.8 percent, primarily reflecting the continued growth in
services for command, control, communications, computers, intelligence, surveillance and reconnaissance; logistics and material readiness; and cyber solutions core competencies, according to a CACI earnings statement released after market trading ended Wednesday afternoon.
“We had an extremely strong start to our fiscal year 2011 with record contract funding orders, record contract awards, record revenue and record net income,” Paul Cofoni, CACI president and CEO, said in the statement.
“Our nearly $1.5 billion in awards, a quarterly record, was over twice as much as we won in the first quarter of fiscal 2010,” he said. “With these awards, we retained existing business and secured new business that will help sustain our growth in fiscal 2011, fiscal 2012 and beyond.”
Cofoni added that the awards expand the company’s footprint into important growth areas such as transformation of electronic health records and health care IT support for the Veterans Affairs and Defense departments, and biometrics technology support to intelligence and security missions.
“The volume and diversity of the awards we received during the quarter reinforces our belief that we are ideally positioned in well-funded, critical areas of the federal government,” he said.
The scheduled acquisition of TechniGraphics Inc. and Applied Systems Research Inc. in the strategically important area of geospatial information systems “will establish us as a strong partner for geospatial information solutions to the Intelligence Community,” Cofoni added.
CACI International, of Arlington, Va., ranks No. 16 on Washington Technology’s 2010 Top 100 list of the largest federal government contractors.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.