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 First Quarter 2012 Financial And Operating Results

Stocks in this article: NCIT

NCI, Inc. (NASDAQ:NCIT), a leading provider of information technology (IT), professional services and solutions to U.S. Federal Government agencies, today announced financial and operating results for the first quarter of 2012.

NCI’s first quarter revenue exceeded the high end of management’s previously issued guidance by approximately $2 million. Earnings per share exceeded the high end of guidance by $0.01.

First Quarter 2012 Results:

For the first quarter of 2012, NCI reported revenue of $99.1 million compared with first quarter 2011 revenue of $150.2 million, a decrease of 34.0%. The year-over-year decrease in revenue was due to the decline of approximately $27 million of BRAC-related and other non-core program revenue; a net decrease of $15 million in core revenue as a result of reductions of scope of work, the expiration of task orders and contracts, and certain lost contract recompetes; and lower revenue under our PEO Soldier contract of approximately $9 million, among other factors.

General and administrative expenses for the first quarter of 2012 were $6.7 million, or 6.8% of revenue, compared with $5.8 million, or 3.8% of revenue for the first quarter of 2011. The increase was due to general and administrative expenses associated with programs attributable to AdvanceMed Corporation, which we acquired as of April 1, 2011; the timing of certain accrued expenses; greater allocation of information technology, facility and other corporate infrastructure expenses attributable to our reduced revenue base; higher stock compensation expense; and labor and fringe benefit costs associated with certain senior executive positions that were vacant in the first quarter of 2011.

Operating income for the first quarter of 2012 was $3.1 million, down from $9.7 million for the first quarter of 2011.

Operating margin for the first quarter of 2012 was 3.1% compared with operating margin of 6.5% for the first quarter of 2011. Operating margin for the first quarter of 2012 declined due to reduced absorption of indirect costs on the lower revenue base, reduced profitability on our PEO Soldier cost-plus fee bridge contract, and lower contract margins on new awards and recompetes as a result of cost-competitive pricing terms.

1 of 4

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 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

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