ICF (Nasdaq: ICFI) released the following financial announcement:
“Net income was $7.2 million, a 39 percent increase over the $5.2 million reported for last year’s second quarter. Earnings per diluted share were $0.37 compared to $0.33 per diluted share in the second quarter of 2009. For the 2010 second quarter, the fully diluted weighted average number of shares outstanding was 19.6 million compared to 15.7 million shares in the 2009 second quarter. The increase resulted primarily from the 3.6 million shares issued in connection with the Company’s secondary public offering, which was completed in December 2009.
“Our second quarter performance was at the high end of our guidance range, ” said Sudhakar Kesavan, chairman and chief executive officer. “Each of our markets achieved significant revenue growth, driven primarily by the continued strength of our federal government business, and we posted an exceptional organic growth rate of 20 percent. Operating income increased 25 percent, benefiting from higher revenue without a commensurate increase in indirect and selling expenses.”
