CACI International (NYSE: CACI) topped Wall Street’s expectations for earnings and revenue in the GovCon Index-listed government services contractor’s fourth quarter and fiscal year 2017 financial results released before markets opened Thursday.
Arlington, Virginia-based CACI’sÂ February acquisition of the former L-3 National Security Solutions business droveÂ net income and salesÂ growthÂ in both the April-June quarter and July-June fiscal year along with a lower tax rate in the more recent three-month period.
Chief Executive Ken Asbury said the NSS transaction also helped bolster CACI’s operating cash flowÂ thatÂ totaled $53 million in the fourth quarter and $243 million for the year.
CACI, which provides technology- and intelligence-related services to federal agencies, reiterated its fiscal 2017 guidance of $6.02-$6.43 earnings per share and revenue at $4.05 billion-$4.25 billion.
Fourth quarter earnings atÂ $1.75 per share exceeded analyst forecasts of $1.55 and full-year EPS totaled $5.76 versus Wall Street’s outlook of $5.54.
Net income in the April-JuneÂ quarterÂ roseÂ 5.46 percent year-over-year to $43.6 million on both NSS’ contributions and the lower tax rate, while profit for the full 12-month periodÂ increasedÂ 13.16 percent to $142.8 million.
Fourth quarter revenue climbedÂ 28.67 from the same period last year to $1.11 billion over Wall Street’s $1.10 billion forecast and full-year sales grewÂ 13.01 percent to $3.74 billion compared to analyst expectations of $3.73 billion.
Adjusted earnings before interest, taxes, depreciation and amortization for the full FY 2016 roseÂ 8.94 percent to $330.36 million, while adjusted EBITDA margin was 8.8 percent with total long term debt at $1.4 billion as of June 30.
As of Wednesday’s close, shares in CACI are up 1.62 percent from the start of the calendar year and have risen 9.36 percent over 12 months.
By comparison, the GovCon Index has climbedÂ 7.65 percent year-to-date and gainedÂ 10.12 percent for 52 weeks.