Home / Financial Report / CACI Reports 2.6% Revenue Hike, $5.2B in Contract Wins for FY 2018; Ken Asbury Quoted

CACI Reports 2.6% Revenue Hike, $5.2B in Contract Wins for FY 2018; Ken Asbury Quoted

Ken Asbury

CACI International (NYSE: CACI) posted $4.46 billion in revenue for the full fiscal year 2018 that ended June 30, up 2.6 percent from $4.35 billion in FY 2017.

The company said Wednesday it recorded a net income of $301.2 million for fiscal 2018 and $340.7 million in FY 2018 operating income, which reflects a 14.6 percent increase from the previous fiscal year.

CACI attributed the revenue increase to “on-contract growth of existing work and new business wins.”

Ken Asbury, CACI president and CEO, said the company met its goal for organic revenue growth and set records for year-end backlog, revenue, contract funding and operating cash flow in FY 2018.

“Our record performance in FY18 and confidence in our market-aligned strategy positions us for continued growth and increased shareholder value,” added Asbury, a five-time Wash100 recipient.

The Arlington, Va.-based government information technology services contractor logged $5.2 billion in FY 2018 contract awards with new business constituting 50 percent of those awards.

The company recorded $1.5 billion in contract bookings for the fourth quarter of FY 2018 and those include a $407 million task order with the Department of Homeland Security for the implementation of cybersecurity tools and a $122 million task order with the U.S. Navy for the development of emergency communications systems.

CACI reported a total backlog of $11.3 billion at the end of FY 2018 and posted a 16 percent hike in FY 2018 contract funding orders compared with the prior fiscal year.

The financial results came days after reports emerged that the firm has agreed to acquire CSRA’s former systems engineering and acquisition services unit from General Dynamics (NYSE: GD) for approximately $80 million.

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