ICF Posts 9.2% Q4 Revenue Bump in Government Segment; John Wasson Quoted

ICF (Nasdaq: ICFI) reported $272.6 million in revenue from government clients for the fourth quarter of its 2021 fiscal year ended Dec. 31, a 9.2 percent increase from the prior year period.

John Wasson, chairman and CEO of ICF and two-time Wash100 winner, told investors on an earnings call the company’s U.S. federal business experienced 9.8 percent organic growth for the quarter and 10.2 percent for the full year.

The company said federal government revenue was $181.7 million for the October-November 2021 period and represented 47 percent of total sales.

ICF booked more than 100 contracts and task orders at the federal level and more than 200 state, local and international government contracts worth $485 million combined in the three-month period.

Total backlog as of Dec. 31 stood at $3.2 billion with $1.6 billion of it funded.

Wasson noted the company expects the acquisition of Creative Systems and Consulting, a cloud advisory and technology services provider to the federal sector, to help drive the company’s financial performance for 2022.

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