ICF International Releases Quarterly Financial Results

ICF International, Inc. (NASDAQ: ICFI) released its second quarter 2011 financial results on August 1.

The company’s net income rose 24.5 percent over the fourth quarter of 2010 to $9.0 million, or $0.45 per diluted share, from $7.2 million, or $0.37 per diluted share.

Operating income increased 22.5 percent over that period to $15, 504, 000 from $12, 661, 000.

ICF’s quarterly revenue increased 6.9 percent year-over-year to $213.4 million from $199.6 million.

“First half 2011 revenue growth was 9.1 percent, operating income increased 27.1 percent and net income was up 32.2 percent, indicative of ICF’s significant operating leverage, ” said Sudhakar Kesavan, ICF International’s chairman and CEO.

“ICF’s strong second quarter 2011 performance demonstrates the advantages of our diversified business mix, ” said Kesavan. “Domestic commercial business revenues increased 52.3 percent year-over-year, led by significant growth in energy efficiency work and infrastructure project management, as well as a pickup in energy-related transaction activity. We continue to achieve significant growth in profitability driven by the strength of our commercial business and success in managing costs.”

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