Revenue for the quarter was up 18% to $553.6m, although net income slipped 3% to $18.2m, which the company said was partly due to an increased use of subcontractors, which results in lower margins for CACI. EPS, at $0.60, was still ahead of analysts’ forecasts of $0.58, according to Thomson Financial. Wall Street was looking for $507.5m in sales for the quarter.
Bookings during the period were impressive at $934m.
Due to its recent acquisition of intelligence contractors Athena Innovative Solutions and Dragon Development, CACI upped its full-year revenue guidance from a previous range of $2.05bn to $2.15bn to a new forecast of $2.25bn to $2.35bn. Projected EPS is unchanged at $2.50 and $2.80.
