NCI (NASDAQ:NCIT) issued financial results for the fourth quarter and year of 2010.
For the fourth quarter of 2010, NCI reported “record revenue of $171 million compared to $125 million for the fourth quarter of 2009, with a revenue growth rate of approximately 37 percent. Operating income for the fourth quarter of 2010 was $11.8 million, compared to $11.5 million for the fourth quarter of 2009. For the full year of 2010, the firm reported revenue of $581 million compared to $469 million for 2009 with an organic revenue growth rate of approximately 22 percent.”
“It was a very successful year for NCI in many ways, ” CEO Charles Narang said. “Most importantly, we met our long-standing objective and crossed over the $500 million in revenue mark. With this foundation in place, we are now focused on reaching $1 billion in revenue within the next three to five years. While the macro environment presents some challenges, we have a seasoned management team, a robust portfolio of GWAC/IDIQ contracts, a cadre of skilled and talented employees, and a reputation for superior customer satisfaction to navigate the current headwinds.”