Perspecta Records 17% Revenue Increase for Q1 FY 2019; Mac Curtis Quoted

Mac Curtis

Perspecta (NYSE: PRSP) reported $793 million in revenue for the first quarter of fiscal 2019 that ended June 30, reflecting a 17 percent increase from the prior year period.

The company said Tuesday its Q1 2019 pro-forma revenue rose 2 percent to $1.04 billion compared with the same period in the last fiscal year.

Perspecta attributed the pro-forma revenue hike to continued growth in background investigations and support work for the intelligence community.

Mac Curtis, Perspecta president and CEO, said the company recorded a strong performance in the first quarter that would help the firm meet its promises and establish a foundation for future growth.

“We are committed to delivering robust and sustainable growth as we execute across the entire services pyramid and differentiate through innovation and intellectual property,” added Curtis, a four-time Wash100 winner.

The Chantilly, Va.-based government information technology services contractor posted $1.3 billion in Q1 pro-forma bookings with new contract awards representing approximately 25 percent of the total awards.

Those awards include a $149 million task order with the Center for Medicare and Medicaid Services to provide hosting services for the agency’s enterprise mainframe applications and a $96 million follow-on contract with the U.S. Army for review and data collection support services.

In order to facilitate “year-over-year comparability,” Perspecta said it included certain pro-forma financial data that combines the standalone financial information of DXC Technology’s (NYSE: DXC) former U.S. public sector business, Vencore and KeyPoint Government Solutions as if the merger of the businesses took place on April 1, 2017.

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