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

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 œon-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.

œOur 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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