CACI Raises FY 2011 Earnings Guidance and Issues FY 2012 Guidance; Cofoni Comments

Paul Cofoni, CACI

CACI (NYSE: CACI) expects performance measures to increase by up to 11 percent in the upcoming fiscal year and has increased its projected fiscal year 2011 net income and diluted earnings per share.

The company projects it will generate net income between $133 million and $138 million in fiscal 2011, an increase from its previous guidance range of $130 million and $135 million. Projected diluted earnings per share increased from a range of $4.15 and $4.30 to one between $4.25 and $4.40.

CACI estimated fiscal 2011 revenues would still be at least $3.5 billion, but projected they would potentially max out at $3.6 billion, not $3.63 billion as the company had previously stated.

CACI expects all three figures in fiscal year 2012 will increase between six and 11 percent over the midpoint of its fiscal year 2011 projections.

The company projects net income to be between $144 million and $150 million, diluted earnings per share to be between $4.60 and $4.80 and revenue to be between $3.75 billion and $3.95 billion.

“This will be the third consecutive year CACI has delivered on our financial goals of mid- to high-single-digit organic revenue growth and double-digit earnings growth, ” said CACI President and CEO Paul Cofoni. “Our strong performance results from the superior execution of our growth strategy, which is focused on the high-priority, well-funded markets of defense, intelligence, homeland security, cyber security and IT modernization and transformation of government.”

Check Also

fuel supply

DLA Selects 10 Awardees for Fuel Supply IDIQs 

Ten companies have each received indefinite-delivery/indefinite-quantity contracts to provide various fuel types to support designated Defense Logistics Agency missions.

BAE Systems

BAE Closes Purchase of Collins Aerospace’s Military GPS Business

BAE Systems has finalized its acquisition of the military GPS business of Raytheon Technologies’ (NYSE: RTX) Collins Aerospace subsidiary. BAE agreed to buy the military GPS business for $1.925B in cash in January and expects the transaction to expand its existing portfolio of electronics systems, the company said Friday.