After the bell, shares had taken off 8.5% to $68.31.
The national security IT services provider downwardly revised its guidance for its fiscal year 2014 ending June.
"We continue to experience delays in contract awards for new business to CACI, lower run-rates on professional services contracts, and reductions in Afghanistan-related material purchases," the company said in a statement.
Over the 12 months to June, CACI expects revenue between $3.5 billion and $3.6 billion, lower than previous guidance for $3.65 billion to $3.8 billion.
Full-year earnings are expected between $5.12 and $5.51 a share from a previous range of $5.59 to $5.98 a share.
Analysts surveyed by Thomson Reuters forecast earnings of $5.78 a share and revenue of $3.71 billion.
"Our lower FY14 guidance reflects reduced government spending and delays in award activity. We are disappointed that these factors have not been mitigated by the passing of the 2014 appropriations act, as we had anticipated," added CEO Ken Asbury.
The company will host a conference call at 8:30am EDT to discuss the revised guidance.
CACI International will release its third-quarter results on April 30.
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TheStreet Ratings team rates CACI INTL INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation: