ICF 3Q Revenue Jumps 9%; Sudhakar Kesavan Comments

Sudhakar Kesavan

ICF International (NASDAQ: ICFI) has announced financial results for the third quarter of fiscal year 2012, ended Sept. 30, 2012.

LinkedIn Follow

The company reported an 8.8 percent increase in revenue over the prior year period, recording $237.9 million in 2012’s third quarter compared to the $218.7 million recorded in third quarter 2011.

Revenue for the first nine months of fiscal 2012 was $705.2 million, a 12.5 percent increase over the $626.8 million reported in the same period for fiscal 2011.

“We continued to achieve growth across all of our major markets in the third quarter, ” Chairman and CEO Sudhakar Kesavan said in the release. “Energy, Environment, & Infrastructure increased 4.6 percent; Health, Social Programs, & Consumer/Financial increased 15.2 percent; and Public Safety & Defense increased 2.9 percent.

“In addition, business awards this quarter included a number of important strategic wins and a high percentage of new contracts versus re-competes with government and commercial clients.”

During the quarter, the company won a task order under the National Institute of Health‘s potential $20 billion Chief Information Officer – Solutions and Partners 3 contract vehicle to collect and analyze biomedical data.

Revenue in ICF’s commercial business increased 20.4 percent in the 2012 third quarter to $60.6 million, representing 25 percent of ICF’s total revenue and up from 23 percent in last year’s third quarter.

The company credited the increase in that segment in part to the company’s $100 million acquisition of Ironworks Consulting, which develops public-facing web products and social media platforms for the federal government.

Video of the Day

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about Financial Report

Related Articles

The Ultimate Guide to Winning Government Contracts Let us show you how top executives are winning so you can replicate it