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CACI International Inc (NYSE: CACI), a leading information solutions and services provider to the federal government, announced results today for its fourth fiscal quarter and full fiscal year ended June 30, 2013:
Revenue of $912.9 million for the fourth quarter and $3.68 billion for the year
Operating income of $67.9 million for the fourth quarter and $270.8 million for the year
Net income attributable to CACI of $37.9 million for the fourth quarter and $151.7 million for the year
Diluted earnings per share of $1.56 for the fourth quarter and $6.35 for the year
CEO Commentary and Outlook
Ken Asbury, CACI’s President and CEO, said, “Our fourth quarter results were in line with our guidance expectations and reflect our ability to adapt to an uncertain market. We grew revenue in our high-growth market areas of Business Systems, Cyberspace, Healthcare, and Integrated Security Solutions, and received half of our awards in the quarter from those same areas. In addition, we reduced our cost structure, which will drive efficiencies and preserve our margins. These actions position us to continue to be successful in meeting our customers’ high-priority mission requirements in an ongoing, sequestered environment.
“Since the beginning of our new fiscal year, we are encouraged that we have won a number of significant new business and recompete awards. In addition, we have strengthened our business development organization with the addition of two key executives. We will continue to execute our strategy that is focused on winning business in support of the government’s high-priority missions, delivering operational excellence to our customers, and making acquisitions that bring us new customers and new capabilities. All of this gives us the confidence to reiterate our FY14 guidance.”
Fourth Quarter Comparisons
When analyzing our performance, we believe better insight and a more meaningful comparison of our Fiscal Year 2013 (FY13) results with those of Fiscal Year 2012 (FY12) can be made by adjusting for three material one-time items that positively impacted our results last year. The one-time item that impacted our fourth quarter FY12 results, which we discussed when we released both our fourth quarter FY12 results and our FY13 annual guidance, is greater-than-expected profitability on a large fixed-price contract that generated $0.1 million in additional net income in the fourth quarter of FY12 and $7.1 million during the full year of FY12.