Arlington-based CACI International Inc (NYSE: CACI), a federal government contractor focused on providing information technology services reported fourth quarter and full-year fiscal financial results.
Revenue at CACI increased 13.5% in the fourth quarter to $963.2 Million compared to $848.7 Million in the fourth quarter of 2010.
Net income rose to $45.9 Million in the fourth quarter 2011, a year-over-year increase of 53.5% from $29.9 Million in Q4 2010. For the fiscal year, CACI posted a net income of $144.2 Million, a 35.4% jump from FY 2010 when it was $106.5 Million.
As of June 30, 2011, CACI had cash and cash equivalents totaled $164.8 Million versus $254.5 Million at the end of June 30, 2010.
Paul Cofoni, CACI's President and CEO, said, "In Fiscal 2011, we delivered on our financial goals of mid- to high-single-digit organic revenue growth and double-digit earnings growth. We achieved record results in revenue, operating income, EPS, and cash flow, and our strong funding orders for the year — the highest in CACI's history — give us confidence that we will sustain our top and bottom line growth into the future. Our Board of Directors has replaced our $175 million share repurchase authorization with an authorization to repurchase up to 4 million shares, and we fully expect to implement a corresponding repurchase plan which is expected to deliver further value to our shareholders."
For the fiscal year, CACI was awarded a total of $3.2 Billion for contract work, a 56% increase over fiscal year 2010.
CACI International will hold a conference call at 8:30 AM Eastern Time Thursday, August 18, 2011