(RTTNews) -  Wednesday, CACI International Inc. (CACI: News ), reported 21.8% rise in profit for the first quarter, reflecting a 11.8% growth in organic revenue driven by strong performance in defense and intelligence businesses. The company also raised its earnings and revenue guidance for the fiscal 2010.

CACI's first quarter net income increased to $23.9 million from $19.6 million in the year-ago period. On a per share basis, profit increased to $0.78 from $0.64.

On average, 17 analysts polled by Thomson Reuters expected the company to report earnings of $0.75 per share for the quarter. Analyst estimates typically exclude one-time items.

Revenues for the quarter were $739.5 million, up 12.9% from $654.8 million in the prior-quarter last year. Analysts estimated revenues of $702.36 million for the quarter.

Organic revenue increased to $732.09 million from $654.76 million a year ago.

Operating income for the quarter increased to $46.0 million from $41.3 million last year.
Contract funding orders of the company were $1.04 billion, up 10.5% from the prior-year quarter. Funded backlog was $1.92 billion, a 16% increase over the first quarter of previous fiscal.

Looking forward to full-year, CACI raised net income guidance to be in the range of $99.5 million to $105.6 million from the previous outlook of $97.8 million - $103.9 million. On a per share basis, net income is now expected to be in the range of $3.25 - $3.45, compared to prior range of $3.20 - $3.40. Total revenue is expected to be between $2.950 billion - $3.050 billion, from the previous range of $2.850 billion - $2.950 billion.

Analysts expect the company to report earnings of $3.34 per share on revenues of $2.91 billion for fiscal 2010.

CACI closed Wednesday's regular trading at $47.87, down $0.29 or 0.60% on a volume of 0.46 million shares on the Nasdaq.

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by RTT Staff Writer

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