CACI International Seeks Acquisitions
Apr 30 15
CACI International Inc. (NYSE:CACI) is seeking acquisitions. Tom Mutryn, CAIC International's Chief Finance Officer, said "The other possibility, and if we would think long and hard about it is that if it was a very large opportunity, we have another currency called equity, which we could kind of deploy kind of very carefully and judiciously for the right type of acquisition."
CACI International Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2015; Revises Earnings Guidance for the Fiscal Year 2015
Apr 29 15
CACI International Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2015. For the quarter, the company reported revenue of $817,797,000 compared to $900,393,000 a year ago. Operating income was $53,715,000 compared to $60,532,000 a year ago. Income before income taxes was $45,242,000 compared to $49,052,000 a year ago. Net income attributable to the company was $29,039,000 compared to $30,828,000 a year ago. Diluted earnings per share were $1.18 compared to $1.19 a year ago. Revenue for the third quarter of fiscal year 2015 decreased 9.2% compared to the third quarter of fiscal year 2014. The decrease in operating income was a result of the budget-related activities offset by lower indirect costs and selling expenses occurring from ongoing cost control actions. The lesser decrease in diluted earnings per share as compared to the decrease in net income was due to fewer diluted shares as a result of paying off convertible notes in May 2014. EBITDA was $69,967,000 compared to $78,739,000 a year ago. Adjusted net income was $41,537,000 or $1.69 diluted earnings per share against adjusted net income of $46,343 or $1.78 diluted earnings per share of prior year period.
For the nine months, the company reported revenue of $2,447,946,000 compared to $2,658,844,000 a year ago. Operating income was $161,302,000 compared to $188,168,000 a year ago. Income before income taxes was $135,149,000 compared to $159,844,000 a year ago. Net income attributable to the company was $84,811,000 compared to $98,782,000 a year ago. Diluted earnings per share were $3.49 compared to $3.89 a year ago. Revenue decreased 7.9% compared to revenue for the nine months of fiscal year 2014. The decrease in operating income in the first nine months of fiscal year 2015 was primarily a result of the reductions, budget-related activities, and ramp-up costs associated with the significant growth of background investigation work for the OPM. The lesser decrease in diluted earnings per share as compared to the decrease in net income was due to fewer diluted shares as a result of paying off convertible notes in May 2014. EBITDA was $211,871,000 compared to $236,140,000 a year ago. Adjusted net income was $122,539,000 or $5.04 diluted earnings per share against adjusted net income of $140,328,000 or $5.53 diluted earnings per share of prior year period. Net cash provided by operating activities was $190,408,000 compared to $146,302,000 a year ago. Capital expenditures amounted to $13,128,000 against $11,636,000 of prior year period.
The company revised earnings guidance for the fiscal year 2015. For the year, revenue is expected to be in the range of $3,300 million to $3,350 million compared to previous guidance of $3,300 million to $3,600 million, net income attributable to company to be in the range of $125 million to $130 million compared to previous guidance of $125 million to $135 million, diluted earnings per share to be in the range of $5.12 to $5.33 compared to previous guidance of $5.14 to $5.56 and effective corporate tax rate to be 37.6% compared to previous guidance of 38.1%.
CACI International Inc Enters into Sixth Amendment to its Credit Agreement
Apr 28 15
On April 22, 2015, CACI International Inc. and certain of its subsidiaries (CACI) entered into a sixth amendment (the Amendment) to its Credit Agreement (as amended, restated and modified from time to time prior to the date hereof, the Credit Agreement), dated as of October 21, 2010, with the lenders named therein and Bank of America, N.A., as administrative agent, swing line lender and letter of credit issuer. The Amendment modifies the Credit Agreement to (i) extend the maturity date of the credit facilities from November 15, 2018 to June 1, 2020, with the term loan facility requiring quarterly amortization payments commencing September 30, 2015, equal to 5.0% per annum for each of the first three years, and 10.0% per annum thereafter, and (ii) revise the maximum senior secured leverage ratio maintenance covenant to remove the step-downs in such covenant, such that the senior secured leverage ratio shall not exceed 4.00:1.00. All other material terms of the Credit Agreement remain the same.
CACi International Inc. Wins $5.2 Billion Contract to Provide Intelligence Support to US Army
Apr 24 15
CACI International Inc. has received a prime contract to provide intelligence support to the US Army Intelligence and Security Command, or INSCOM, on the Global Intelligence Support Services contract. This five-year multiple-award indefinite delivery/indefinite quantity, or IDIQ, contract has a ceiling value of $5.2 billion. The Global Intelligence Support Services contract is a vehicle to provide responsive, competitive acquisition of services for current and future Army intelligence, security, and information operations requirements. Through the contract, CACI will provide a broad array of intelligence support, including C4ISR (command, control, communications, computers, intelligence, surveillance, and reconnaissance), logistics and material readiness, and big data management and analytics. CACI has deep knowledge of the INSCOM mission backed by more than a decade of support for INSCOM and its Intelligence Community partners.