CACI (NYSE: CACI) reported second quarter fiscal year 2011 net income of $33.2 million, or $1.08 diluted earnings per share.
According to the firm, “net income increased 27.6 percent over net income of $26.1 million, or $0.85 diluted earnings per share, for the same period of fiscal year 2010. Revenue in the second quarter was $867.3 million, an increase of 11.7 percent.”
The firm pointed to the growth of C4ISR services, data information and knowledge management and integrated security and intelligence solutions as growth drivers.
“We delivered another quarter of record financial results, ” CEO Paul Cofoni said. “We achieved our goal of mid- to high-single-digit organic revenue growth, delivered strong double-digit earnings growth, and generated record second-quarter operating cash flow. Our strategy of focusing on mission-critical services and solutions in well-funded areas continues to be successful. It was a key factor in our winning a significant amount of new business during the quarter. In addition, our proven ability to execute on contracts was a primary factor in our ability to retain recompeted work in the quarter. Our two most recent acquisitions are performing extremely well and are contributing to the growth of revenue and earnings from the Intelligence Community. The Department of Homeland Security’s Transformation and Systems Consolidation contract award, a major contributor to our total awards for the quarter, is important work that will create savings, improve security and enhance management oversight for DHS through the consolidation and integration of financial, acquisition and asset management systems, while expanding our presence in DHS.”
CACI also announced it would raise guidance, per the following chart:
|Current FY11||Previous FY11|
|(in millions except per share data)||Guidance||Guidance|
|Revenue||$3, 500 – $3, 630||$3, 450 – $3, 600|
|Net income||$127 – $132||$121 – $128|
|Diluted earnings per share||$4.05 – $4.20||$3.90 – $4.10|
|Diluted weighted average shares||31.3||31.1|