Wait, don't miss out on the latest GovCon industry news!

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

*By clicking "Join us now" you agree to receive email, promotions and general messages from GovCon Wire, In addition, you also agree to GovCon Wire Privacy Policy and Terms & Conditions.

X Remind me Later

CACI 1Q Earnings, Revenue Top Wall Street Forecasts; Ken Asbury on FY 2016 Contract Award Outlook

CACI logo_EbizCACI International (NYSE: CACI) — one of 30 companies listed on Executive Mosaic’s GovCon Index — has reported earnings of $1.84 per share for the first quarter of the company’s 2016 fiscal year.

That figure exceeds Wall Street analyst forecasts by 79 cents and the prior year figure by three cents.

Government services contractor CACI also posted a year-over-year profit increase of 8.12 percent to $33.8 million and revenue climbed 0.95 percent to $822.44 million.

Wall Street analysts forecasted $803.7 million in revenue for the first quarter, which ended Sept. 30.

CACI’s full-year guidance has the company at between $5.24 and $5.65 earnings per share and a revenue range of $3.3 billion-to-$3.5 billion.

President and CEO Ken Asbury told investors in a subsequent call the two-year federal budget agreement struck last week will be the “single largest determinant” of contract award pace and eventual results for the company’s second, third and fourth fiscal quarters.

CACI’s fiscal calendar runs on a July-June basis.

The company reported a total backlog of $10.6 billion as of Sept. 30, a figure 21.7 percent higher than reported in the same period last year.

Funded backlog as of Sept. 30 was $2.3 billion, 10.1 percent higher than the prior year period.

Shares in CACI have climbed 3.52 percent since the year’s start and are up 19.92 percent over 12 months.

GovCon Wire Logo

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

Related Articles