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ICF Revenue Up 11% in 1Q; Sudhakar Kesavan Comments

ICF logo_EbizICF International (NASDAQ: ICFI) has announced financial results for the first quarter of its 2015 fiscal year ended March 31, 2015.

The Fairfax, Va.-based consulting and technology services contractor said total revenue increased 11.61 percent year-over-year to $245.05 million.

Sudhakar Kesavan
Sudhakar Kesavan

Chairman and CEO Sudhakar Kesavan attributed ICF’s first quarter performance in part to sales in the company’s commercial digital services business after ICF completed its $295 million acquisition of Olson in November.

Federal government revenue — which ICF said represented 47 percent of total revenue — held flat at $128.7 million for the quarter, while sales to state and local governments increased 9.3 percent.

“We continued to grow our federal business in the key areas of our domain expertise where we have scale, such as energy, health and IT services, and posted low single-digit revenue growth in these markets, ” said Kesavan, a Wash100 inductee.

Revenue from ICF’s commercial clients jumped 48 percent from the prior year period to $102 million and represented 37 percent of total sales, the company said.

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