NCI revenues, earnings fall in third quarter

Company takes a goodwill charge of $55.6M

NCI Inc. reported some tough times in its latest quarter with revenue dropping 33 percent and operating income falling significantly as well.

NCI reported revenue for the quarter ended Sept. 30 at $88.5 million, a drop from 2011’s $132 million.

The company pointed to a number of factors for the drop:

  • Work reductions, task order and contracts expirations, and lost recompetes.
  • Ending of Base Realignment and Close-related and other non-core programs.
  • Decrease of revenue from its Program Executive Office Soldier program.

The company reported an after-tax goodwill impairment charge of $55.6 million.

Brian J. Clark, NCI president, said the goodwill charge reflected the "continued turmoil in the federal market and the fact that NCI’s market value has declined further—remaining well below the net asset value of the company for the past couple of quarters.”

Net income was $1.8 million, excluding the impairment charge, compared to $3.5 million for the quarter last year. If the impairment charge is considered, the comany had a loss of $55.2 million for the quarter.

At September 30, 2012, NCI reported total backlog of $910 million; $249 million of this figure was funded. Last quarter, the company’s total backlog was $825 million, of which $196 million was funded.

About the Author

Mark Hoover is a senior staff writer with Washington Technology. You can contact him at, or connect with him on Twitter at @mhooverWT.

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


  • 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. Our databases track awards back to 2013. Read More

  • Navigating the trends and issues of 2016 Nick Wakeman

    In our latest WT Insider Report, we pull together our best advice, insights and reporting on the trends and issues that will shape the market in 2016 and beyond. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.