This Day On The Street
Continue to site
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

ManTech Announces Financial Results For Third Quarter Of 2013

  • Revenue: $567 million
  • Diluted EPS: $0.48
  • Cash Flow from Operations: $77 million
  • Bookings: $647 million in contract awards for a book-to-bill ratio of 1.1
  • Dividends: $0.21 per share paid in September; $0.21 per share authorized for December

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

"Our cyber, intelligence, and health businesses continue to grow, and we continue to generate exceptional cash flow," said ManTech Chairman and Chief Executive Officer George J. Pedersen. "With a Continuing Resolution that funds the government at last year's levels through January 15, 2014, our employees who had been furloughed have returned to work performing their mission-critical activities. ManTech's strong balance sheet and positioning with priority missions offer stability during this period of uncertainty."

Summary Operating Results

Revenues for the quarter were $567.4 million, compared to $645.0 million in the third quarter of fiscal year 2012. Revenues in strategic investment areas, including intelligence, cyber security and healthcare, increased year-over-year. Revenues supporting Overseas Contingency Operations (OCO) declined $42 million compared to the third quarter of 2012, as mission requirements fell in conjunction with the U.S. military withdrawal from Afghanistan.

Operating income was $32.0 million for the quarter. Operating margin of 5.6 percent reflected greater investment in new market growth areas and the rapid drawdown in OCO support. Net income was $17.7 million for the quarter, which resulted in diluted earnings per share of $0.48.

Cash Management and Capital Deployment

Cash flow from operations for the quarter was $77 million or 4.3 times net income. Days sales outstanding (DSO) were 78 days, up two days from the second quarter of 2013. During the quarter, the company paid $7.8 million, or $0.21 per share, to its common stockholders of record as of September 6, 2013. The company finished the quarter with the highest quarter-ending cash and cash equivalents balance in its history—$259 million, up from $194 million at the end of the second quarter. With $200 million in high-yield debt and no outstanding borrowings on its $500 million revolving-credit facility, the company has the financial capacity to pursue acquisitions, issue dividends, and maintain a strong balance sheet.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs