This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

NCI Reports Fourth Quarter And Fiscal Year 2011 Financial And Operating Results

Stocks in this article: NCIT

NCI, Inc. (NASDAQ:NCIT), a leading provider of information technology (IT), engineering, logistics, and professional services and solutions to U.S. Federal Government agencies, today announced financial and operating results for the fourth quarter and fiscal year ended December 31, 2011. i

Fourth quarter and fiscal year 2011 revenue and diluted earnings per share were within management’s updated guidance range issued on January 19, 2012, which included the effect of a one-time restructuring charge that totaled $3.1 million, or $0.14 per diluted share.

Fourth Quarter 2011 Results:

For the fourth quarter of 2011, NCI reported revenue of $114.8 million compared with fourth quarter 2010 revenue of $171.0 million, a decrease of 32.9%. The year-over-year decrease in revenue was due to the attrition of approximately $17 million of BRAC-related and other non-core program revenue; the expiration of approximately $28 million of task orders and contracts within NCI’s core contract base; a reduction of approximately $21 million associated with NCI's core contract base as a result of reductions in scope of work and lost contract recompetes; and lower PEO Soldier revenue, among other factors. The year-over-year decline in revenue was partially offset by revenue generated by AdvanceMed Corp., which was acquired in April 2011, and, to a lesser extent, revenue derived from new awards and recompete wins.

Operating income for the fourth quarter of 2011 was $789 thousand, down from $11.8 million for the fourth quarter of 2010. Operating income for the fourth quarter of 2011 reflected the previously disclosed pre-tax restructuring charge of $3.1 million.

Operating margin for the fourth quarter of 2011 was 0.7% compared with operating margin of 6.9% for the fourth quarter of 2010. Operating margin for the fourth quarter declined due to the effect of the restructuring charge, reduced absorption of indirect costs on the lower revenue base, and reduced profitability on our PEO Soldier cost-plus fee bridge contract. Excluding the effect of the charge and the non-core materials-related revenue associated with the BRAC and NETCENTS contracts, our operating margin was 3.5% for the fourth quarter of 2011. Operating margin excluding non-core materials-related revenue associated with the BRAC and NETCENTS contracts in the fourth quarter of 2010 was 7.5%.

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs