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ICF Q1 Government Segment Revenue Jumps 15.7%; John Wasson Quoted

ICF (Nasdaq: ICFI) reported fiscal 2022 first quarter revenue of $311.9 million for its government client category, representing a 15.7 percent increase from the same period a year ago.

The Fairfax, Virginia-based consulting and digital services provider said sales during the most recent quarter totaled $413.5 million, compared with $378.5 million in the prior-year period, and 53 percent of the latest revenue came from federal customers.

John Wasson, chairman and CEO of ICF, said the company attributes its year-on-year growth to a “strong performance” in the information technology modernization and digital transformation, public health and disaster management areas.

Sales in the company’s federal and state and local government markets were $220.3 million and $64.8 million to register growth rates of 25.2 percent and 14 percent from Q1 2021 figures, respectively.

ICF also reported $361 million in contract awards for the January-March period, a 1.27 book-to-bill ratio and a total backlog of $3.2 billion at the quarter’s end.

“Most of our first quarter contract awards represented new business wins at federal government and commercial energy clients,” said Wasson, who is a two-time recipient of the Wash100 Award.

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