Shares of CACI International Inc. (CACI) increased around 9 percent in the after-hours trading on Wednesday, after the provider of professional services and information technology solutions reported strong growth in first-quarter profit and also lifted its fiscal 2012 forecast.
First-quarter net income climbed 47.1 percent to $42.1 million from last year's $28.7 million, and earnings per share grew to 53.3 percent to $1.41 from $0.92 a year ago.
On average, 15 analysts polled by Thomson Reuters expected earnings of $1.11 per share for the quarter. Analysts' estimates typically exclude one-time items.
Pro forma net income, reflecting prior year's acquisitions, for the quarter was $41.8 million, 41.6 percent higher than last year's $29.5 million, and earnings per share grew 47.5 percent to $1.40 from $0.95 a year ago.
Revenues for the quarter grew 10.8 percent to $924.4 million from $$834.0 million last year. Analysts estimated revenues of $916.1 million for the quarter. Organic revenue increased 8.3 percent
Citing continued strength in its operating performance, CACI raised its fiscal 2012 earnings guidance range to $5.55 - $5.80 per share, from the prior estimate of $4.70 - $4.90 per share. Analysts currently estimate earnings of $5.10 per share for the full year.
The company also lifted its revenue guidance for the full year 2012 to the range of $3.85 billion to $4.05 billion, from the prior estimate of $3.75 billion - $3.95 billion. Analysts currently estimate revenues of $3.86 billion for the full year.
Earlier in the day, CACI said it has been awarded approximately $635 million in previously unannounced contracts with the U.S. Army. CACI will provide services and solutions in the areas of mobility, cyber, and C4ISR (command, control, communications, computers, intelligence, surveillance, and reconnaissance).
CACI closed Wednesday's regular trading at $54.25, up $1.11 or 2.09 percent. In the after-hours trading, shares increased further by $4.75 or 8.76 percent to $59.
by RTT Staff Writer
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