CACI International Inc (NYSE: CACI), a leading information solutions and services provider to the federal government, announced results today for its first fiscal quarter ended September 30, 2013.
CEO Commentary and Outlook
Ken Asbury, CACI’s President and CEO, said, “Our performance in the first quarter is in line with our expectations and demonstrates our ability to adapt to the changing conditions in our marketplace, which continues to be impacted by uncertainty surrounding budgetary constraints and sequestration. We continued implementing our three-part growth strategy by winning a significant amount of business and securing solid contract funding, both at levels comparable to last year; driving operational excellence; and executing on the first priority for the deployment of our capital, our mergers and acquisition program, culminating in the announcement in early October of our intent to purchase Six3 Systems, Inc. Our progress in the quarter gives us the confidence to reiterate our FY14 annual guidance.
“We expect that the acquisition of Six3 Systems will have a positive impact on the balance of our FY14 and further differentiate CACI in our key market areas of cyber, C4ISR, and intelligence. The addition of Six3 Systems will further position CACI as a leader in digital signals processing and innovative cyber solutions for our national security customers.”First Quarter Results
|(in millions except per-share data)||Q1, FY14||Q1, FY13||% Change|
|Net income attributable to CACI||$33.0||$35.7||-7.6%|
|Diluted earnings per share||$1.33||$1.49||-10.8%|