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
Comcast Corp found itself in an unsavory situation after a customer's name on a bill was changed from Ricardo to 'A**hole', ostensibly by a disgruntled employee who tried to get the customer to retain her current cable service and sign a two-year contract. Blockbuster sales of big-screen iPhones during the holiday quarter has helped tech giant Apple Inc. (AAPL) to tie with Samsung to become the world's largest smartphone vendor. Both Apple and Samsung sold 74.5 million smartphones during the December quarter, according to research firm Strategy Analytics.... Toyota Motor Sales, U.S.A., Inc., a unit of Japanese auto giant Toyota Motor Corp. (TYT.L, TM), said it is recalling 52,000 - 2011-2012 Avalon sedans in the U.S. due to a wiring problem that increases risk of fire. The company says cargo in trunk of the affected cars could contact one of the audio...
comments powered by Disqus
RELATED NEWS
Trade CACI now with 
Follow RTT