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

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11/3/2011 2:00 AM ET

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.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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The Reserve Bank of New Zealand on Thursday raised its Official Cash Rate by 25 basis points, to 3.00 percent from 2.75 percent. The decision was in line with expectations, and it marks the second straight month with a rate hike following 24 straight meetings in which the rate was not changed. New Zealand's economic expansion has considerable momentum, with GDP estimated to have grown by 3.5 percent in the year to March. Apple Inc. said Wednesday after the markets closed that its second quarter profit rose 7% from last year, as sales surged and margins improved amid strong sales of its iPhones. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. At the same time, the company gave a slightly downbeat revenue forecast for the current quarter. Stocks moved mostly lower during trading on Wednesday, giving back some ground after trending higher over the past several sessions. Selling pressure was relatively subdued, however, limiting the downside for the markets. The major averages all closed in the red, although the tech-heavy Nasdaq underperformed its counterparts by a wide margin.
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