CACI net income jumps 54 percent, lifts 2012 view
Wed, 08/17/2011 - 5:06pm
The Associated Press

Government information technology contractor CACI International Inc. said Wednesday its fiscal fourth-quarter net income jumped 54 percent as revenue was boosted by higher orders from acquisitions.

CACI also raised its earnings guidance for the year. Shares jumped 6.7 percent, or $3.28, in aftermarket trading to hit $52.10. The stock fell 91 cents in the regular session to close at $48.82 before the earnings were released.

The company earned $45.9 million, or $1.44 per share, for the quarter ended June 30, compared with year-ago results of $29.9 million, or 93 cents per share.

Revenue rose 13 percent to $963.2 million from $848.7 million.

The results beat Wall Street's expectations. Analysts polled by FactSet were expecting a profit of $1.17 per share on revenue of $957.7 million.

For fiscal year, earnings rose 35 percent to $144.2 million, or $4.61 per share, from $106.5 million, or $3.47 a share, in the prior year. Revenue rose 14 percent to $3.58 billion from $3.15 billion.

During the fiscal year, CACI completed the acquisitions of TechniGraphics Inc. and Applied Systems Research Inc., providers of geospatial and technical services to the intelligence community.

CACI now expects to earn between $147 and $153 million in fiscal 2012, which works out to between $4.70 and $4.90 per share. It previously expected to reach between $144 million and $150 million, or $4.60 to $4.80 per share. CACI still projects revenue between $3.75 billion and $3.95 billion.

Analysts expect earnings of $4.68 per share on revenue of $3.84 billion.

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