CACI (NYSE: CACI) announced results today for its third fiscal quarter ended March 31, 2010.
‘We are pleased to report record third quarter net income of $26.7 million, or $0.87 diluted earnings per share. This net income was a 21.6 percent increase over net income of $22.0 million, or $0.72 diluted earnings per share, for the same period last year.
The 16.3 percent increase in revenue in the quarter was driven by organic growth of 14.2 percent, reflecting the continued strong performance of our defense and intelligence businesses.’
“Our results this quarter continue to reflect the strength of our strategy to provide mission-critical services in support of well-funded national security priorities, ” said CACI CEO Paul Cofoni. “We exceeded our financial goals of mid- to high-single-digit organic revenue growth and double-digit earnings growth. We continued to experience growth in all of our core competencies, with another particularly strong quarter from C4ISR Integration Services. Funding orders maintained their strong pace, and we successfully defended all of our major recompeted contracts. We continued to generate strong cash flows, and we completed the important previously announced acquisition of SystemWare, Inc. that enhances our solutions in counterintelligence and cybersecurity. We are very pleased to deliver another quarter of record results to our shareholders.”