CACI Reports Results for Its Fiscal 2013 Fourth Quarter and Full Year

  CACI Reports Results for Its Fiscal 2013 Fourth Quarter and Full Year

                   Revenue and net income meet expectations

 Operating cash flow of $106.9 million in the quarter and $249.3 million for
                                   the year

                     Reiterates Fiscal Year 2014 guidance

Business Wire

ARLINGTON, Va. -- August 14, 2013

CACI International Inc (NYSE: CACI), a leading information solutions and
services provider to the federal government, announced results today for its
fourth fiscal quarter and full fiscal year ended June 30, 2013:

  *Revenue of $912.9 million for the fourth quarter and $3.68 billion for the
    year
  *Operating income of $67.9 million for the fourth quarter and $270.8
    million for the year
  *Net income attributable to CACI of $37.9 million for the fourth quarter
    and $151.7 million for the year
  *Diluted earnings per share of $1.56 for the fourth quarter and $6.35 for
    the year

CEO Commentary and Outlook

Ken Asbury, CACI’s President and CEO, said, “Our fourth quarter results were
in line with our guidance expectations and reflect our ability to adapt to an
uncertain market. We grew revenue in our high-growth market areas of Business
Systems, Cyberspace, Healthcare, and Integrated Security Solutions, and
received half of our awards in the quarter from those same areas. In addition,
we reduced our cost structure, which will drive efficiencies and preserve our
margins. These actions position us to continue to be successful in meeting our
customers’ high-priority mission requirements in an ongoing, sequestered
environment.

“Since the beginning of our new fiscal year, we are encouraged that we have
won a number of significant new business and recompete awards. In addition, we
have strengthened our business development organization with the addition of
two key executives. We will continue to execute our strategy that is focused
on winning business in support of the government’s high-priority missions,
delivering operational excellence to our customers, and making acquisitions
that bring us new customers and new capabilities. All of this gives us the
confidence to reiterate our FY14 guidance.”

Fourth Quarter Comparisons

When analyzing our performance, we believe better insight and a more
meaningful comparison of our Fiscal Year 2013 (FY13) results with those of
Fiscal Year 2012 (FY12) can be made by adjusting for three material one-time
items that positively impacted our results last year. The one-time item that
impacted our fourth quarter FY12 results, which we discussed when we released
both our fourth quarter FY12 results and our FY13 annual guidance, is
greater-than-expected profitability on a large fixed-price contract that
generated $0.1 million in additional net income in the fourth quarter of FY12
and $7.1 million during the full year of FY12.

Results for the fourth quarter of FY13 compared with results for the fourth
quarter of FY12, excluding the item described above, are shown below:

                                                           
                                               Q4, FY12      
                                                 As Adjusted
(in millions except per share data)  Q4, FY13  (see page 13)  % Change
Revenue                              $912.9    $948.9         -3.8%
Operating income                     $67.9     $76.5          -11.2%
Net income attributable to CACI      $37.9     $43.3          -12.3%
Diluted earnings per share           $1.56     $1.59          -1.8%
                                                                 

Revenue decreased 3.8 percent from revenue for the fourth quarter of FY12. Our
4.3 percent increase in direct labor was offset by a reduction of material
purchases and subcontract labor. Operating income in the fourth quarter of
FY13 was negatively impacted by $7 million in one-time severance and
facilities-related expenses. Net income attributable to CACI in the fourth
quarter of FY13 was $37.9 million, or $1.56 diluted earnings per share, a
decrease of 12.3 percent over adjusted net income attributable to CACI of
$43.3 million, or $1.59 adjusted diluted earnings per share, for the same
period in FY12. Net cash provided by operations in the quarter was $106.9
million. (See Reconciliation of Revenue, Operating Income, Net Income, and
Diluted Earnings Per Share to Adjusted Amounts on page 13.)

For a comparison of our FY13 results to FY12 results reported in accordance
with generally accepted accounting principles (GAAP), see the income statement
on page 7 of this release.

Additional Financial Metrics

                                                                
                                                      Q4 , FY12   
                                           Q4, FY13  As Adjusted  % Change
Earnings before interest, taxes,
depreciation and amortization (EBITDA), a   $81.9     $90.9        -9.9%
non-GAAP measure (in millions)
Diluted adjusted earnings per share, a      $2.06     $2.08        -1.0%
non-GAAP measure
Days sales outstanding                      58        58           
                                                                      

Fourth Quarter Awards and Contract Funding Orders

During the fourth quarter, we received awards in all ten of our markets with
approximately one-half of those in our high-growth markets of Business
Systems, Cyberspace, Healthcare and Integrated Security Solutions. Our
contract awards were $561 million in the quarter. Approximately two-thirds of
our awards in the quarter were either contract modifications or recompete
wins, which assures us that we continue to serve critical missions of our
customers. FY13 awards totaled $3.4 billion, led by Business Systems, C4ISR,
and Intelligence. This amount also includes more than $425 million in
contracts with federal government clients in the Intelligence Community.

Contract funding orders in the fourth quarter were $722 million and $3.42
billion for FY13. Our total backlog at June 30, 2013 was $6.9 billion. Funded
backlog at June 30, 2013 was $1.7 billion.

We continued to expand our inventory of indefinite delivery, indefinite
quantity (IDIQ) contract vehicles during the quarter by being awarded prime
positions on new multiple and single award contracts, resulting in a combined
total of over 160 of these vehicles. IDIQ contract vehicles support our growth
plans across our ten markets and provide us the flexibility to deliver on our
customers’ mission-critical requirements. Awards during the quarter included:

  *A $45 million, two-year award to provide a wide range of business IT and
    command and control solutions to support the U.S. Navy’s SPAWAR Space and
    Warfare Systems Center Atlantic (SSC Atlantic). This ongoing work expands
    our presence in the Business System Solutions and Logistics and Material
    Readiness market areas.
  *A $26.7 million, five-year award to provide a wide array of training and
    logistics support for a customer in our Integrated Security Solutions
    market area. This new work grows our business in that area.

IDIQ awards during the quarter included:

  *An $899 million, five-year multiple award to provide Business and Force
    support services to the SSC Atlantic Business Portfolio. This new work is
    one of three “Pillar” contracts that we have been awarded, and supports
    the entire spectrum of non-inherently governmental solutions and services
    associated with the SSC Atlantic Business Portfolios. It further expands
    our presence in the C4ISR, Business Systems, Cyber, and Enterprise IT
    market areas.
  *An $899 million, five-year multiple award to provide Decision Support
    services for the SSC Atlantic Business Portfolio. This new work, another
    of the three “Pillar” contracts from SSC Atlantic that we have been
    awarded, further expands our command and control presence, a part of our
    C4ISR market, as well as our presence in the Business Systems, Cyber, and
    Enterprise IT market areas.

Fourth Quarter Highlights

  *Michael A. Daniels and William L. Jews and were appointed to CACI’s Board
    of Directors. Mr. Daniels brings more than 25 years of experience in
    global information solutions and services, with a strong track record in
    building and growing profitable organizations. Mr. Jews is a senior
    business and healthcare executive whose over 25 years of experience
    includes leading organizational growth and completing successful mergers
    and acquisitions.
  *Larry Clifton was named Executive Vice President and Chief Human Resources
    Officer. A company veteran and human capital innovator, Mr. Clifton
    provides strategic direction for our human capital functions, with an
    emphasis on employee and leadership development and talent management.
  *CACI was identified by the General Services Administration as one of five
    recommended vendors to provide enterprise-wide Mobile Device Management
    and Mobile Application Management services to federal government agencies.
    This identification positions CACI to help agencies develop and securely
    manage mobile devices and applications, and positions us to expand our
    business in our C4ISR market area.

Fourth Quarter Recognition

  *CACI was ranked 12th on Washington Technology’s list of Top 100 Federal
    Prime Contractors (up from 14th last year). Our continued placement among
    the industry’s leaders reflects CACI’s sustained ability to compete at the
    highest levels despite challenging economic conditions in our sector.

Comparison of Twelve Months Results

As noted on page 1 of this release, we believe better insight and a more
meaningful comparison of our FY13 results with those of FY12 can be made by
adjusting for three material one-time items that positively impacted our
results last year. These items, which we discussed when we released both our
full year FY12 results and our FY13 annual guidance, are:

  *A large commercial product sale that generated $12.0 million of revenue
    and $6.1 million of net income in the first quarter of FY12
  *Greater-than-expected profitability on a large fixed-price contract that
    generated $7.1 million of net income during the full year of FY12
  *A $0.4 million increase in net income in the first quarter of FY12
    associated with a reduction in the fair value of contingent consideration
    related to a prior year acquisition

Results for FY13 compared with results for FY12, excluding the items described
above, are shown below:

                                                            
                                               Twelve Months, 
                                      Twelve     FY12
                                      Months,    As Adjusted
(in millions except per share data)  FY13      (see page 13)   % Change
Revenue                              $3,682.0  $3,762.4        -2.1%
Operating income                     $270.8    $277.5          -2.4%
Net income attributable to CACI      $151.7    $153.9          -1.4%
Diluted earnings per share           $6.35     $5.47           16.0%
                                                                  

Revenue decreased 2.1 percent from adjusted revenue for FY12 primarily due to
increases in direct labor being offset by a reduction of material purchases
tied to the draw down in Afghanistan as well as sequestration-related
reductions in other material purchases. Operating income in the second half of
FY13 was negatively impacted by $10 million in one-time severance and
facilities-related expenses. Net income attributable to CACI for FY13 was
$151.7 million, or $6.35 diluted earnings per share, a decrease of 1.4 percent
from adjusted net income attributable to CACI of $153.9 million, or $5.47
adjusted diluted earnings per share, for FY12. Net cash provided by operations
in FY13 was $249.3 million. (See Reconciliation of Revenue, Operating Income,
Net Income, and Diluted Earnings Per Share to Adjusted Amounts on page 13.)

For a comparison of our FY13 results to FY12 results reported in accordance
with GAAP, see the income statement on page 7 of this release.

Additional Financial Metrics

                                                                
                                                         Twelve   
                                                 Twelve    Months,
                                                 Months,   FY12 As
                                               FY13     Adjusted  % Change
Earnings before interest, taxes, depreciation
and amortization (EBITDA), a non-GAAP measure   $326.6   $334.4    -2.3%
(in millions)
Diluted adjusted earnings per share, a          $8.33    $7.33     13.7%
non-GAAP measure
                                                                      

Subsequent Events since July 1, 2013

  *Donald Fulop was appointed Executive Vice President for Business
    Development, reporting directly to President and CEO Ken Asbury. This
    strategic new hire supports our aggressive business development strategy
    and brings an experienced industry veteran to our leadership team.
  *Suzan Zimmerman was appointed Senior Vice President, Strategic Campaigns,
    reporting directly to President and CEO Ken Asbury. Ms. Zimmerman will
    lead CACI’s focus on evaluating, bidding, and capturing large market
    opportunities and brings a proven track record of significant success in
    this area.
  *Dr. Anthony Hess was appointed Senior Vice President of our Healthcare
    Solutions Group. The strategic new hire of this health solutions innovator
    reflects our continued focus on our high-growth market of Healthcare and
    the expansion of our capabilities in that market area.

CACI Reiterates Its FY14 Guidance

We are reiterating the FY14 guidance we issued on June 26, 2013. We expect
that operating cash flow for the year will be approximately $225 million. The
guidance does not include the impact of future acquisitions. The table below
summarizes our FY14 guidance ranges and represents our views as of August 14,
2013:

                                                         
(In millions except for tax rate and earnings per share)  FY 2014
                                                           Guidance
Revenue                                                   $3,500 - $3,700
Net income attributable to CACI                           $142 - $152
Effective corporate tax rate                              39%
Diluted earnings per share                                $5.70 - $6.10
Diluted weighted average shares                           24.9
                                                         

Conference Call Information

We have scheduled a conference call for 8:30 AM Eastern Time Thursday, August
15, 2013 during which members of our senior management team will be making a
brief presentation focusing on fourth quarter and full year results and
operating trends followed by a question-and-answer session. You can listen to
the conference call and view the accompanying exhibits over the Internet by
logging on to our homepage, www.caci.com, at the scheduled time, or you may
dial 877-303-9143 and enter the confirmation code 18383571. A replay of the
call will also be available over the Internet beginning at 1:00 PM Eastern
Time Thursday, August 15, 2013 and can be accessed through our homepage
(www.caci.com) by clicking on the CACI Investor Info button.

CACI provides information solutions and services in support of national
security missions and government transformation for Intelligence, Defense, and
Federal Civilian clients. A member of the Fortune 1000 Largest Companies and
the Russell 2000 Index, CACI provides dynamic careers for approximately 14,900
employees working in over 120 offices worldwide. Visit www.caci.com.

There are statements made herein which do not address historical facts and,
therefore, could be interpreted to be forward-looking statements as that term
is defined in the Private Securities Litigation Reform Act of 1995. Such
statements are subject to factors that could cause actual results to differ
materially from anticipated results. The factors that could cause actual
results to differ materially from those anticipated include, but are not
limited to, the following: regional and national economic conditions in the
United States and globally (including the impact of uncertainty regarding U.S.
debt limits and actions taken related thereto); terrorist activities or war;
changes in interest rates; currency fluctuations; significant fluctuations in
the equity markets; changes in our effective tax rate; failure to achieve
contract awards in connection with re-competes for present business and/or
competition for new business; the risks and uncertainties associated with
client interest in and purchases of new products and/or services; continued
funding of U.S. government or other public sector projects, based on a change
in spending patterns, implementation of spending cuts (sequestration) under
the Budget Control Act of 2011, changes in budgetary priorities or in the
event of a priority need for funds, such as homeland security or the war on
terrorism; government contract procurement (such as bid protest, small
business set asides, loss of work due to organizational conflicts of interest,
etc.) and termination risks; the results of government investigations into
allegations of improper actions related to the provision of services in
support of U.S. military operations in Iraq; the results of government audits
and reviews conducted by the Defense Contract Audit Agency, the Defense
Contract Management Agency, or other governmental entities with cognizant
oversight; individual business decisions of our clients; paradigm shifts in
technology; competitive factors such as pricing pressures and/or competition
to hire and retain employees (particularly those with security clearances);
market speculation regarding our continued independence; material changes in
laws or regulations applicable to our businesses, particularly in connection
with (i) government contracts for services, (ii) outsourcing of activities
that have been performed by the government, and (iii) competition for task
orders under Government Wide Acquisition Contracts (GWACs) and/or schedule
contracts with the General Services Administration; the ability to
successfully integrate the operations of our recent and any future
acquisitions; our own ability to achieve the objectives of near term or long
range business plans; and other risks described in our Securities and Exchange
Commission filings.

CACI-Financial

                                                                                
Selected Financial Data
                                                                                       
CACI
International
Inc
Condensed Consolidated Statements of Operations (Unaudited)
(Amounts in thousands, except per share amounts)
                                                                                       
                 Quarter Ended                         Twelve Months Ended
                 6/30/2013     6/30/2012     %         6/30/2013       6/30/2012       %
                                             Change                                    Change
Revenue          $ 912,931    $ 948,873    -3.8  %   $ 3,681,990    $ 3,774,473    -2.5  %
Costs of
revenue
Direct costs       627,195       651,991     -3.8  %     2,535,606       2,598,890     -2.4  %
Indirect costs
and selling        204,090       206,106     -1.0  %     821,465         819,772       0.2   %
expenses
Depreciation
and               13,744      14,068     -2.3  %    54,078        55,962       -3.4  %
amortization
Total costs of    845,029     872,165    -3.1  %    3,411,149     3,474,624    -1.8  %
revenue
Operating          67,902        76,708      -11.5 %     270,841         299,849       -9.7  %
income
Interest
expense and       6,510       5,788      12.5  %    25,818        24,101       7.1   %
other, net
Income before      61,392        70,920      -13.4 %     245,023         275,748       -11.1 %
income taxes
Income taxes      23,173      27,233     -14.9 %    92,347        107,537      -14.1 %
Net income
before
noncontrolling     38,219        43,687      -12.5 %     152,676         168,211       -9.2  %
interest in
earnings of
joint venture
Noncontrolling
interest in       (281    )    (290    )   -3.1  %    (987      )    (757      )   30.4  %
earnings of
joint venture
Net income
attributable     $ 37,938     $ 43,397     -12.6 %   $ 151,689      $ 167,454      -9.4  %
to CACI
                                                                                       
Basic earnings   $ 1.64        $ 1.64        -0.2  %   $ 6.59          $ 6.18          6.6   %
per share
Diluted
earnings per     $ 1.56        $ 1.59        -2.0  %   $ 6.35          $ 5.96          6.6   %
share
                                                                                       
Weighted average shares used in per share computations:
Basic              23,136        26,407                  23,010          27,077
Diluted            24,318        27,247                  23,885          28,111
                                                                                       
                                                                                       
Statement of Operations Data (Unaudited)
                 Quarter Ended                         Twelve Months Ended
                 6/30/2013     6/30/2012     %         6/30/2013       6/30/2012       %
                                             Change                                    Change
Operating          7.4     %     8.1     %               7.4       %     7.9       %
income margin
Tax rate           37.9    %     38.6    %               37.8      %     39.1      %
Net income         4.2     %     4.6     %               4.1       %     4.4       %
margin
                                                                                       
Adjusted         $ 81,856      $ 90,881      -9.9  %   $ 326,567       $ 334,397       -2.3  %
EBITDA*
Adjusted           9.0     %     9.6     %               8.9       %     8.9       %
EBITDA Margin
                                                                                       
Adjusted net     $ 50,088      $ 56,663      -11.6 %   $ 198,968       $ 205,919       -3.4  %
income*
Diluted
adjusted         $ 2.06        $ 2.08        -1.0  %   $ 8.33          $ 7.33          13.7  %
earnings per
share


  * See Reconciliation of Net Income to Adjusted Earnings before Interest,
  Taxes, Depreciation and Amortization and to Adjusted Net Income on page 12.

                                                            
Selected Financial Data (Continued)
                                                               
CACI International Inc
Condensed Consolidated Balance Sheets (Unaudited)
(Amounts in thousands)
                                                               
                                                 6/30/2013     6/30/2012
ASSETS:
Current assets
Cash and cash equivalents                        $ 64,337      $ 15,740
Accounts receivable, net                           614,616       628,842
Prepaid expenses and other current assets         49,022       41,210
Total current assets                               727,975       685,792
                                                               
Goodwill and intangible assets, net                1,581,153     1,521,769
Property and equipment, net                        65,510        67,449
Other long-term assets                            126,627      113,212
Total assets                                     $ 2,501,265   $ 2,388,222
                                                               
LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities
Current portion of long-term debt                $ 295,517     $ 7,500
Accounts payable                                   133,073       149,549
Accrued compensation and benefits                  166,538       180,871
Other accrued expenses and current liabilities    147,366      147,009
Total current liabilities                          742,494       484,929
                                                               
Long-term debt, net of current portion             300,790       527,307
Other long-term liabilities                       250,409      211,541
Total liabilities                                 1,293,693    1,223,777
                                                               
Shareholders' equity                              1,207,572    1,164,445
Total liabilities and shareholders' equity       $ 2,501,265   $ 2,388,222


Selected Financial Data (Continued)

CACI International Inc
Condensed Consolidated Statements of Cash Flows (Unaudited)
(Amounts in thousands)

                                                  Twelve Months Ended
                                                   6/30/2013     6/30/2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income including portion attributable to
noncontrolling interest in earnings of joint       $ 152,676      $ 168,211
venture
Reconciliation of net income to net cash
provided by operating activities:
Depreciation and amortization                        54,078         55,962
Non-cash interest expense                            12,868         12,024
Amortization of deferred financing costs             2,073          2,237
Stock-based compensation expense                     8,832          15,499
Provision for deferred income taxes                  31,102         10,653
Distribution of earnings from unconsolidated         5,627          -
joint ventures
Undistributed earnings of unconsolidated joint       (2,620   )     (1,728   )
ventures
Other                                                -              1,322
Changes in operating assets and liabilities, net
of effect of business acquisitions:
Accounts receivable, net                             32,265         (33,919  )
Prepaid expenses and other current assets            (11,739  )     (11,064  )
Accounts payable and accrued expenses                (8,611   )     39,001
Accrued compensation and benefits                    (23,744  )     3
Income taxes receivable and payable                  (17,188  )     930
Other liabilities                                   13,712       12,092   
Net cash provided by operating activities           249,331      271,223  
                                                                  
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures                                 (15,439  )     (18,284  )
Purchases of businesses, net of cash acquired        (107,021 )     (185,926 )
Investment in unconsolidated joint ventures          (838     )     -
Other                                               (4,119   )    (158     )
Net cash used in investing activities               (127,417 )    (204,368 )
                                                                  
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds under credit facilities                 46,888         116,251
Payment of contingent consideration                  (3,187   )     (21,611  )
Proceeds from employee stock purchase plans          4,505          4,095
Proceeds from exercise of stock options              13,050         7,466
Repurchases of common stock                          (127,529 )     (316,563 )
Payment of taxes for equity transactions             (7,605   )     (4,535   )
Other                                               853          (584     )
Net cash used in financing activities               (73,025  )    (215,481 )
Effect of exchange rate changes on cash and cash    (292     )    (451     )
equivalents
Net increase (decrease) in cash and cash             48,597         (149,077 )
equivalents
Cash and cash equivalents, beginning of period      15,740       164,817  
Cash and cash equivalents, end of period           $ 64,337      $ 15,740   
                                                                  


Selected Financial Data (Continued)
                                                                        
Revenue by Customer Type (Unaudited)
                Quarter Ended                                               
(dollars in     6/30/2013              6/30/2012              $ Change      %
thousands)                                                                     Change
Department of   $ 658,443     72.1  %   $ 724,008     76.3  %   $ (65,565  )   -9.1  %
Defense
Federal
Civilian          204,436     22.4  %     168,528     17.8  %     35,908       21.3  %
Agencies
Commercial        45,834      5.0   %     52,468      5.5   %     (6,634   )   -12.6 %
State and
Local            4,218      0.5   %   3,869      0.4   %   349        9.0   %
Governments
Total           $ 912,931    100.0 %  $ 948,873    100.0 %  $ (35,942  )  -3.8  %
                                                                               
                Twelve Months Ended                                         
(dollars in     6/30/2013              6/30/2012              $ Change      %
thousands)                                                                     Change
Department of   $ 2,735,102   74.3  %   $ 2,944,924   78.0  %   $ (209,822 )   -7.1  %
Defense
Federal
Civilian          741,053     20.1  %     620,870     16.5  %     120,183      19.4  %
Agencies
Commercial        190,142     5.2   %     193,840     5.1   %     (3,698   )   -1.9  %
State and
Local            15,693     0.4   %   14,839     0.4   %   854        5.8   %
Governments
Total           $ 3,681,990  100.0 %  $ 3,774,473  100.0 %  $ (92,483  )  -2.5  %
                                                                               
Revenue by Contract Type (Unaudited)
                Quarter Ended                                               
(dollars in     6/30/2013              6/30/2012              $ Change      %
thousands)                                                                     Change
Cost            $ 456,398     50.0  %   $ 435,441     45.9  %   $ 20,957       4.8   %
reimbursable
Fixed price       260,055     28.5  %     274,179     28.9  %     (14,124  )   -5.2  %
Time and         196,478    21.5  %   239,253    25.2  %   (42,775  )  -17.9 %
materials
Total           $ 912,931    100.0 %  $ 948,873    100.0 %  $ (35,942  )  -3.8  %
                                                                               
                Twelve Months Ended                                         
(dollars in     6/30/2013              6/30/2012              $ Change      %
thousands)                                                                     Change
Cost            $ 1,783,430   48.4  %   $ 1,659,764   44.0  %   $ 123,666      7.5   %
reimbursable
Fixed price       1,034,016   28.1  %     1,057,663   28.0  %     (23,647  )   -2.2  %
Time and         864,544    23.5  %   1,057,046  28.0  %   (192,502 )  -18.2 %
materials
Total           $ 3,681,990  100.0 %  $ 3,774,473  100.0 %  $ (92,483  )  -2.5  %
                                                                               
Revenue Received as a Prime versus Subcontractor (Unaudited)
                Quarter Ended                                               
(dollars in     6/30/2013              6/30/2012              $ Change      %
thousands)                                                                     Change
Prime           $ 811,009     88.8  %   $ 839,411     88.5  %   $ (28,402  )   -3.4  %
Subcontractor    101,922    11.2  %   109,462    11.5  %   (7,540   )  -6.9  %
Total           $ 912,931    100.0 %  $ 948,873    100.0 %  $ (35,942  )  -3.8  %
                                                                               
                Twelve Months Ended                                         
(dollars in     6/30/2013              6/30/2012              $ Change      %
thousands)                                                                     Change
Prime           $ 3,237,091   87.9  %   $ 3,337,752   88.4  %   $ (100,661 )   -3.0  %
Subcontractor    444,899    12.1  %   436,721    11.6  %   8,178      1.9   %
Total           $ 3,681,990  100.0 %  $ 3,774,473  100.0 %  $ (92,483  )  -2.5  %
                                                                               


Selected Financial Data (Continued)
                                                             
Contract Funding Orders Received (Unaudited)
                     Quarter Ended                               
(dollars in          6/30/2013     6/30/2012     $ Change       % Change
thousands)
Contract Funding     $ 721,580     $ 901,130     $ (179,550 )   -19.9  %
Orders
                     Twelve Months Ended                         
(dollars in          6/30/2013     6/30/2012     $ Change       % Change
thousands)
Contract Funding     $ 3,415,626   $ 3,910,057   $ (494,431 )   -12.6  %
Orders
                                                                             


Direct Costs by Category (Unaudited)
             Quarter Ended
(dollars                                                                                %
in             6/30/2013                 6/30/2012                 $ Change       Change
thousands)
Direct         $ 262,648     41.9  %   $ 251,898     38.6  %   $ 10,750       4.3  %
labor
Other
direct          364,547     58.1  %    400,093     61.4  %    (35,546  )   -8.9 %
costs
Total
direct         $ 627,195     100.0 %   $ 651,991     100.0 %   $ (24,796  )   -3.8 %
costs
                                                                                        
               Twelve Months Ended
(dollars                                                                                %
in             6/30/2013                 6/30/2012                 $ Change       Change
thousands)
Direct         $ 1,029,010     40.6  %     $ 977,743       37.6  %     $ 51,267         5.2  %
labor
Other
direct          1,506,596   59.4  %    1,621,147   62.4  %    (114,551 )   -7.1 %
costs
Total
direct         $ 2,535,606   100.0 %   $ 2,598,890   100.0 %   $ (63,284  )   -2.4 %
costs
                                                                                             


Reconciliation of Total Revenue Growth and Organic Revenue Growth
(Unaudited)

We are presenting organic revenue growth, on both an as reported and as
adjusted basis, to reflect the effect of acquisitions on total revenue
growth.Revenue generated from the date a business is acquired through the
first anniversary of that date is considered acquired revenue growth.All
remaining revenue growth is considered organic.We believe that this non-GAAP
financial measure provides investors with useful information to evaluate the
growth rate of our core business.This non-GAAP measure should not be
considered in isolation or as a substitute for performance measures prepared
in accordance with GAAP.


                                                                         
               Quarter Ended                        Twelve Months Ended
(dollars                                   %                                          %
in             6/30/2013   6/30/2012   Change   6/30/2013     6/30/2012     Change
thousands)
Revenue,
as             $ 912,931     $ 948,873     -3.8 %     $ 3,681,990     $ 3,774,473     -2.5 %
reported
Less:
Acquired        31,381                      124,345                     
revenue
Organic        $ 881,550   $ 948,873   -7.1 %   $ 3,557,645   $ 3,774,473   -5.7 %
revenue
                                                                                           
               Quarter Ended                        Twelve Months Ended
(dollars                                   %                                          %
in             6/30/2013   6/30/2012   Change   6/30/2013     6/30/2012     Change
thousands)
Revenue,
as             $ 912,931     $ 948,873     -3.8 %     $ 3,681,990     $ 3,762,438     -2.1 %
adjusted
Less:
Acquired        31,381                      124,345                     
revenue
Organic        $ 881,550   $ 948,873   -7.1 %   $ 3,557,645   $ 3,762,438   -5.4 %
revenue
                                                                                           


Selected Financial Data (Continued)
Reconciliation of Net Income to Adjusted Earnings Before Interest, Taxes,
Depreciation
and Amortization (EBITDA) and to Adjusted Net Income
(Unaudited)

The Company views EBITDA, EBITDA margin, Adjusted Net Incomeand Diluted
Adjusted Earnings Per Share as important indicators of performance, consistent
with the manner in which management measures and forecasts the Company’s
performance.EBITDA is a commonly used non-GAAP measure when comparing our
results with those of other companies.We believe Adjusted Net Income is a
significant driver of long-term value and is used by investors to measure our
performance.This measure in particular assists readers in further
understanding our results and trends from period-to-period by removing certain
non-cash items that do not impact the cash flow performance of our business.
We are presenting FY12 EBITDA, EBITDA margin, Adjusted Net Incomeand Diluted
Adjusted Earnings Per Share on an adjusted basis, to remove the impact of
three material items that positively impacted our FY12 results as we believe
these adjusted measures provide a better comparison to our ongoing, recurring
operations.Adjusted EBITDA is defined by us as GAAP net income plus net
interest expense, income taxes, and depreciation and amortization, and less
the three material items described earlier in this release.Adjusted EBITDA
margin is adjusted EBITDA divided by adjusted revenue.Adjusted Net Income is
defined by us as GAAP net income plus stock-based compensation
expense,depreciation and amortization, and amortization of financing costs,
and less the three material items described earlier in this release; net of
related tax effects computed using an assumed marginal tax rate of 39.3
percent. Diluted Adjusted Earnings Per Share is Adjusted Net Income divided by
diluted weighted-average shares, as reported.Adjusted EBITDA and Adjusted Net
Income as defined by us may not be computed in the same manner as similarly
titled measures used by other companies.These non-GAAP measures should not be
considered in isolation or as a substitute for performance measures prepared
in accordance with GAAP.


                                                                                    
                 Quarter Ended                             Twelve Months Ended
(dollars in      6/30/2013     6/30/2012     %         6/30/2013       6/30/2012       %
thousands)                                       Change                                          Change
Net income
attributable     $ 37,938        $ 43,397        -12.6 %     $ 151,689         $ 167,454         -9.4  %
to CACI, as
reported
Plus:
Income taxes       23,173          27,233        -14.9 %       92,347            107,537         -14.1 %
Interest
income and         7,001           6,383         9.7   %       28,453            25,829          10.2  %
expense, net
Depreciation
and                13,744          14,068        -2.3  %       54,078            55,962          -3.4  %
amortization
Less:
Product sale       -               -                           -                 (10,093   )
adjustment
Fixed price
contract           -               (200    )                   -                 (11,700   )
adjustment
Earn-out          -           -                   -             (592      )        
adjustment
Adjusted         $ 81,856     $ 90,881     -9.9  %   $ 326,567      $ 334,397      -2.3  %
EBITDA
                                                                                                       
                 Quarter Ended                             Twelve Months Ended
(dollars in      6/30/2013     6/30/2012     %         6/30/2013       6/30/2012       %
thousands)                                       Change                                          Change
Revenue, as      $ 912,931       $ 948,873       -3.8  %     $ 3,681,990       $ 3,762,438       -2.1  %
adjusted
Adjusted         $ 81,856     $ 90,881     -9.9  %   $ 326,567      $ 334,397      -2.3  %
EBITDA
Adjusted
EBITDA            9.0     %    9.6     %            8.9       %    8.9       %        
margin
                                                                                                       
                 Quarter Ended                             Twelve Months Ended
(dollars in      6/30/2013     6/30/2012     %         6/30/2013       6/30/2012       %
thousands)                                       Change                                          Change
Net income
attributable     $ 37,938        $ 43,397        -12.6 %     $ 151,689         $ 167,454         -9.4  %
to CACI, as
reported
Plus:
Stock-based        2,438           4,404         -44.6 %       8,832             15,499          -43.0 %
compensation
Depreciation
and                13,744          14,068        -2.3  %       54,078            55,962          -3.4  %
amortization
Amortization
of financing       530             494           7.3   %       2,073             2,237           -7.3  %
costs
Non-cash
interest           3,295           3,078         7.1   %       12,868            12,024          7.0   %
expense
Less:
Product sale       -               -                           -                 (10,093   )
adjustment
Fixed price
contract           -               (200    )                   -                 (11,700   )
adjustment
Earn-out           -               -                           -                 (592      )
adjustment
Related tax       (7,857  )    (8,578  )   -8.4  %    (30,572   )    (24,872   )   22.9  %
effect
Adjusted net     $ 50,088     $ 56,663     -11.6 %   $ 198,968      $ 205,919      -3.4  %
income
                                                                                                       
                 Quarter Ended                             Twelve Months Ended
(shares in       6/30/2013     6/30/2012     %         6/30/2013       6/30/2012       %
thousands)                                       Change                                          Change
Diluted
weighted
average            24,318          27,247                      23,885            28,111
shares, as
reported
Diluted
earnings per     $ 1.56       $ 1.59       -2.0  %   $ 6.35         $ 5.96         6.6   %
share, as
reported
Diluted
adjusted         $ 2.06       $ 2.08       -1.0  %   $ 8.33         $ 7.33         13.7  %
earnings per
share
                                                                                                       


Selected Financial Data (continued)

Reconciliation of Revenue, Operating Income, Net Income and Diluted Earnings
Per Share
to Adjusted Amounts
(Unaudited)

As described earlier in this release, the Company is presenting adjusted
Revenue, Operating Income, Net Income and Diluted Earnings per Share to
present results excluding the impact of three material items recorded during
the fiscal year ended June 30, 2012.During the fourth quarter of FY12, only
the fixed price contract adjustment impacted the income statement as
follows:$0.2 million reduction of direct costs.These items were recorded in
the income statement for the twelve months ended June 30, 2012, as
follows:product sale -- $12.0 million of revenue and $1.9 million of indirect
costs and selling expenses; fixed price contract adjustment -- $11.7 million
reduction of direct costs; and earn-out adjustment -- $0.6 million reduction
in indirect costs and selling expenses.The Company believes that presenting
the key measures of Revenue, Operating Income, Net Income, and Diluted
Earnings per Share without the impact of these material items recorded in FY12
provides readers a better comparison to our ongoing, recurring operations.
These non-GAAP measures should not be considered in isolation or as a
substitute for performance measures prepared in accordance with GAAP.


                                                                                
                 Quarter Ended                           Twelve Months Ended
(dollars in      6/30/2013   6/30/2012     %         6/30/2013     6/30/2012       %
thousands)                                     Change                                        Change
Revenue, as      $ 912,931     $ 948,873       -3.8  %     $ 3,681,990     $ 3,774,473       -2.5 %
reported
Less:
Product sale      -          -                   -            (12,035   )       
adjustment
Revenue, as      $ 912,931   $ 948,873    -3.8  %   $ 3,681,990   $ 3,762,438    -2.1 %
adjusted
                                                                                                  
                 Quarter Ended                           Twelve Months Ended
(dollars in      6/30/2013   6/30/2012     %         6/30/2013     6/30/2012       %
thousands)                                     Change                                        Change
Operating
income, as       $ 67,902      $ 76,708        -11.5 %     $ 270,841       $ 299,849         -9.7 %
reported
Less:
Product sale       -             -                           -               (10,093   )
adjustment
Fixed price
contract           -             (200    )                   -               (11,700   )
adjustment
Earn-out          -          -                   -            (592      )       
adjustment
Operating
income, as       $ 67,902    $ 76,508     -11.2 %   $ 270,841     $ 277,464      -2.4 %
adjusted
                                                                                                  
                 Quarter Ended                           Twelve Months Ended
(dollars in      6/30/2013   6/30/2012     %         6/30/2013     6/30/2012       %
thousands)                                     Change                                        Change
Net income
attributable     $ 37,938      $ 43,397        -12.6 %     $ 151,689       $ 167,454         -9.4 %
to CACI, as
reported
Less:
Product sale       -             -                           -               (10,093   )
adjustment
Fixed price
contract           -             (200    )                   -               (11,700   )
adjustment
Earn-out           -             -                           -               (592      )
adjustment
Plus:
Related tax       -          79                  -            8,797            
effect*
Pro forma        $ 37,938    $ 43,276     -12.3 %   $ 151,689     $ 153,865      -1.4 %
net income
                                                                                                  
                 Quarter Ended                           Twelve Months Ended
(shares in       6/30/2013   6/30/2012     %         6/30/2013     6/30/2012       %
thousands)                                     Change                                        Change
Diluted
weighted
average            24,318        27,247                      23,885          28,111
shares, as
reported
Diluted
earnings per     $ 1.56      $ 1.59       -2.0  %   $ 6.35        $ 5.96         6.6  %
share, as
reported
Diluted
earnings per     $ 1.56      $ 1.59       -1.8  %   $ 6.35        $ 5.47         16.0 %
share, as
adjusted
                                                                                                  
* Computed using an assumed marginal tax rate of 39.3 percent.


Contact:

CACI International Inc
Corporate Communications and Media:
Jody Brown, Executive Vice President,
Corporate Communications
703-841-7801
jbrown@caci.com
or
Investor Relations:
David Dragics, Senior Vice President,
Investor Relations
866-606-3471
ddragics@caci.com
 
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