Breaking News
FONT-SIZE Plus   Neg
Share SHARE

CACI Shares Rise In After-hours As Q1 Profit Climbs, Lifts Forecast

RELATED NEWS
Trade CACI now with 

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.

Register
To receive FREE breaking news email alerts for CACI International Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Chinese authorities on Tuesday eased some rules for mortgages for buying a second home, in a bid to boost the housing market. The People's Bank of China and the China Banking Regulatory Commission said in a joint statement that buyers who already own one apartment, but have paid off the mortgage... The Reserve Bank of India kept its key rates unchanged once again as expected, citing upside risks to medium-term inflation target. The decision announced Tuesday meant that the repo rate was left unchanged at 8.00 percent for the fourth straight policy meeting. The repo rate is the rate at which the central bank lends to commercial banks. The Reserve Bank of India kept its key rates unchanged once again as expected, citing upside risks to medium-term inflation target. The decision announced Tuesday meant that the repo rate was left unchanged at 8.00 percent for the fourth straight policy meeting. The repo rate is the rate at which the central bank lends to commercial banks.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.