ManTech Announces Financial Results For Third Quarter Of 2016

  • Revenues: $415 million, up 5.7% (4.7% organic) from third quarter of 2015
  • Operating Margin: 5.7% for the third quarter, operating income up 11% from third quarter of 2015
  • Diluted EPS: $0.38, up 9% from third quarter of 2015
  • Book-to-Bill Ratio: 2.1 for the third quarter
  • Cash Flow from Operations: $32 million or 2.2 times net income

FAIRFAX, Va., Nov. 02, 2016 (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 2016, which ended September 30, 2016.

"ManTech achieved outstanding performance across our key operating metrics with strong contract awards, organic growth and exceptional cash flow. Our excellent performance along with our strong balance sheet provides the foundation to fund organic growth and strategic acquisitions positioning ManTech to meet our customers' most challenging and changing demands," said ManTech Chairman and Chief Executive Officer George J. Pedersen.

"ManTech delivered strong organic revenue and earnings growth in the third quarter. I am pleased with the performance and momentum of the business, especially the pace of proposal submittals and contract awards for the quarter and full year. We continue to position the company to pursue higher demand services and solutions and to target large mission critical programs," said newly promoted ManTech President and Chief Operating Officer Kevin M. Phillips.

Summary Operating Results

Revenues for the quarter were $415.4 million, up 5.7% from $393.0 million in the third quarter of 2015, up 4.7% organically. Support for Overseas Contingency Operations contributed roughly $29 million in revenues in the quarter, up about $3 million from the second quarter of 2016.

Operating income for the quarter of $23.5 million, representing an operating margin of 5.7%, was up 11% from the third quarter of 2015. For the quarter net income was $14.7 million and diluted earnings per share were $0.38, up 13% and 9%, respectively, compared to the third quarter of 2015.

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