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May 3, 2009

CACI Q3 revenue up 6% at $674m

Department of Defense revenue grew 8% to $514.7m

By CBR Staff Writer

Defense and homeland security contractor CACI International has reported a 5% increase in net income to $23.43m for the third quarter 2009, compared to $22.29m in the year-ago quarter, on revenue up 6% at $674m.

Operating income grew 3.5% to $45m, while diluted EPS grew 6% to $0.77. EBITDA was $56.7m during the quarter. Contract funding orders increased 5% to $743.3m.

The company said Department of Defense revenue grew 8% to $514.7m, while federal civilian agencies revenue grew 3% to $133.56m. Commercial revenue fell 18% to $20.86m, while state and local government revenue grew 13% to $4.85m.

For the nine-month period, the company reported an 11% increase in net income to $66.51m compared to $59.77m a year ago, on revenue up 13% at $2 billion.

Paul Cofoni, president and chief executive at CACI, said: Our US operations turned in another solid quarter, and our UK operations grew revenue and earnings sequentially. Our positive performance through the first three quarters of the fiscal year validates our fundamental strategy of focusing our services and solutions on the key areas of defense, intelligence, and homeland security. We have grown with every administration and adjusted to market changes with new solutions that meet client requirements while enhancing shareholder value. We are winning Tier 1 contracts at a record rate, and have a robust pipeline of opportunities.

For fiscal 2009, the company expects revenue between $2.65 billion and $2.75 billion, net income between $90m and $93m, and diluted EPS between $2.95 and $3.05.

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