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ICF 2015 & 4Q Earnings Below Street on Strong Dollar, Firm Lifts 2016 Guidance

ICF logo_EbizICF International (NASDAQ: ICFI) — one of 30 companies listed on Executive Mosaic’s GovCon Index — has reported 2015 and fourth quarter earnings and revenue below Wall Street’s forecasts on a strong U.S. dollar that impacted commercial and international government sales.

The Fairfax, Virginia-based consulting services contractor posted $39.37 million in full-year profit, or $2.64 per share, to show a 1.64-percent decline from 2014 while fourth quarter net income jumped 22.71-percent year over year to $10.75 million, or 73 cents per share.

Analysts expected the company to report $2.66 in full-year earnings per share and 75 cents for the October-December period.

Full 2015 revenue was stated as $1.13 billion to show a 7.61-percent year-over-year increase and fourth quarter sales totaled $280.8 million to register 1.58-percent growth from the prior year period.

Wall Street analysts forecasted revenue for 2015 to total $1.14 billion and sales in the fourth quarter to come in as $288.67 million.

The company stated its organic revenue growth as negative 1.8 percent for the full year and approximately flat when excluding currency fluctuations with the fourth quarter rate at negative 0.8 percent.

ICF’s guidance for 2016 forecasts earnings of between $2.79 and $2.94 per share with revenue in the $1.15 billion-to-$1.19 billion range.

As of Monday’s close, shares in ICF have declined 3.91 percent since the start of the year and are down 16.94 percent over 12 months.

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