This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

ManTech Announces Financial Results For Second Quarter Of 2013

Stocks in this article: MANT

  • Revenue: $605.1 million
  • Operating Income: $38.7 million
  • Diluted EPS: $0.58
  • Cash Flow from Operations: $32 million
  • Dividends: $0.21 per share authorized for September

FAIRFAX, Va., July 31, 2013 (GLOBE NEWSWIRE) -- ManTech International Corporation (Nasdaq:MANT) ( www.mantech.com ), a leading provider of innovative technologies and solutions for mission-critical national security programs, today announced financial results for the second quarter of fiscal year 2013, which ended June 30, 2013.

"Our cyber, intelligence and other critical technology businesses are thriving, and our control of indirect costs is driving competitiveness and profitability," said ManTech Chairman and Chief Executive Officer George J. Pedersen. "ManTech is managing the business well through this difficult current environment. Even as we address a reduction in requirements for warfighter support in Afghanistan, our reputation and contract portfolio in critical areas, such as cyber, intelligence, information technology and health care, and our strong balance sheet position us for future growth. We currently have operations in 18 countries around the world that enable ManTech to respond to customer requirements quickly and efficiently."

Summary Operating Results

Revenues for the quarter were $605.1 million, compared to $638.9 million in the second quarter of fiscal year 2012. Total revenues supporting missions other than Overseas Contingency Operations (OCO) in Afghanistan increased year-over-year, especially in strategic investment areas indicated. Revenues supporting OCO declined $41 million compared to the second quarter of 2012, as the result of the completion of a mobile communications contract and fewer other direct costs (ODCs) on the S-3 contract with the U.S. Army Communications and Electronics Command (CECOM).

Operating income was $38.7 million for the quarter. Operating margin of 6.4 percent, up 80 basis points from last quarter, reflected a higher mix of direct labor, excellent award fees stemming from strong program execution, and indirect cost management. Net income was $21.6 million for the quarter, which resulted in diluted earnings per share of $0.58.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

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