Sudhakar Kesavan: ICF Books $618M in Contracts for 3Q 2014

Sudhakar Kesavan
Sudhakar Kesavan

ICF International (NASDAQ: ICFI) has announced financial results for the third quarter of its 2014 fiscal year ended Sept. 30, 2014.

The company recorded an 8.5-percent increase in revenue to $264.8 million from the prior year quarter and a 9.5-percent uptick in profit to $12.3 million, a figure ICF says is exclusive of acquisition costs and special charges.

“Contract awards reached a record $618 million in the third quarter and… year-to-date contract awards of $1.04 billion position 2014 to be another strong sales year for ICF and provide important visibility on future revenue performance, ” said Sudhakar Kesavan, ICF chairman and CEO.

“Our two major markets—’energy, environment & infrastructure’ and ‘health, social programs & consumer/financial’—posted revenue growth of 9 percent and 13 percent, respectively, and represented 90 percent of total revenues for the period.”

Business in the federal government market represented 52 percent of the company’s total revenue, state and local government at 11 percent and international government at 8 percent.

The company’s international government business accounted for 5 percent of total revenue in last year’s third quarter and ICF attributed the increase in share of total revenue in part to the company’s February 2014 acquisition of Mostra.

“We expect the Olson acquisition to add approximately $20 million to $25 million in revenues in the fourth quarter, ” Kesavan said.

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