CACI International Reports Higher 3Q Earns

ARLINGTON, Va. (AP) — Military contractor CACI International Inc. reported Wednesday that fiscal third-quarter 2009 earnings rose 5.1 percent to $23.4 million as revenue climbed, compared with a profit of $22.3 million a year earlier.

The profit in the most recent quarter was equivalent to 77 cents a share. The year-earlier profit was equal to 73 cents a share.

Revenue in the quarter ended March 31 rose 6.3 percent to $674 million, compared with $634.2 million a year earlier.

Analysts surveyed by Thomson Reuters were expecting fiscal third-quarter earnings of 76 cents a share on revenue of $681.2 million. Analysts generally exclude one-time items from their estimates.

The company narrowed its annual earnings guidance range and revised it upwards. For its full 2009 fiscal year, CACI International said it expects revenue in a range of $2.65 billion to $2.75 billion, net income of $90 million to $93 million and diluted earnings per share of $2.95 to $3.05.

The company said it is raising the lower end of the ranges of its net income and diluted earnings per share guidance as a result of stronger third-quarter sales for its United Kingdom subsidiary and an estimated lower full-year tax rate of 42 percent. The guidance does not include any contributions from future acquisitions.

Analysts were expecting full-year earnings of $2.99 a share on revenue of $2.71 billion.