ManTech Reports Increase in FY 2017 Revenue, Operating Income; Kevin Phillips Comments

Kevin Phillips

ManTech International (Nasdaq: MANT) posted $1.72 billion in revenue for the full fiscal year 2017 that ended Dec. 31, up from $1.6 billion in FY 2016.

ManTech said Wednesday it recorded $98.2 million in FY 2017 operating income, which reflects an 8 percent increase from the previous fiscal year.

The company attributed the revenue growth to organic expansion associated with recent acquisitions and contract awards.

The Herndon, Virginia-based government technology services provider also reported a 17 percent rise in revenue during the fourth quarter of FY 2017 compared with the prior-year period and posted $68.4 million in Q4 net income.

Kevin Phillips, president and CEO of ManTech, said the company’s 2017 performance was “remarkable” and driven by employees’ focus on clients’ homeland and national security missions.

“As we look to 2018, the increasing market opportunity set coupled with our recent large contract awards position us well to deliver continued organic growth and further enhance long-term shareholder value,” added Phillips, a 2018 Wash100 recipient.

ManTech logged $4.2 billion in FY 2017 contract awards with new business accounting for approximately 50 percent of those awards last year.

The company recorded $1.1 billion in Q4 contract bookings and those include a potential five-year, $847 million task order to help sustain approximately 25,000 vehicles for the U.S. Army and a potential five-year, $133 million contract to support the Army Intelligence and Security Command’s counterintelligence and counterterrorism operations.

ManTech recorded $1.73 in Q4 diluted earnings per share and $2.91 in FY 2017 diluted EPS.

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