CACI Matches Estimates, Raises Revenue Guidance

The shares tumble on the company's updated outlook.
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CACI International

(CACI) - Get Report

reported third-quarter EPS in line with estimates on better-than-expected revenue.

The IT communications provider said it earned $8.6 million, or 33 cents a share, from continuing operations, up 58% from $5.4 million, or 24 cents a share, in the year-ago quarter. The results were in line with analyst estimates reported by Thomson Financial/First Call.

Revenue for the quarter grew 25% to $182.8 million from $146.7 million a year ago, reflecting increased business from the company's major government clients.

In a press release, the company said all major areas of business experienced solid growth, with federal government business increasing 33%.

For the rest of the year, CACI updated its guidance, saying it now expects to see full-year earnings per share of $1.20 to $1.23, reflecting the additional 4.9 million shares outstanding from the company's recent offering, on revenue of $671 million to $675 million.

Shares of CACI reacted negatively to the news, recently falling 15% to $34.34.