logo
Share SHARE
FONT-SIZE Plus   Neg

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

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

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
An Illinois woman has filed a lawsuit against Starbucks accusing that the coffee retail giant is misleading customers by "underfilling" its cold beverages. According to the plaintiff, Starbucks is cheating customers by serving cold coffees with too much ice cubes and less coffee than advertised, "often... GNC Holdings Inc. (GNC) Monday said it has commenced a strategic review that could lead to potential sale of the company. Shares of GNC Holdings gained over 4 percent after the vitamins and health supplement retailer said it has hired Goldman Sachs and Wachtell, Lipton, Rosen & Katz to advise on... Workers at a giant construction company in Saudi Arabia have set fire to several company buses amid protests at being laid off and not being paid wages for several months. Employees at the Saudi Binladin Group set fire to company buses and staged demonstrations within the Mecca region in recent weeks after the company, one of Saudi Arabia's largest employers, laid off 50,000 foreign employees.
comments powered by Disqus
Follow RTT