Tuesday, April 16, 2024
Tuesday, April 16, 2024
CACI International said today it has purchased General Dynamics' Navy systems engineering business, which GD had acquired through its purchase of CSRA.
The new business adds almost 1,000 employees to CACI, Ken Asbury, CACI's chief executive, said in a call with analysts today.
He pointed to the focus on shipbuilding and modernizing naval platforms, arguing CACI is now well positioned to benefit from those efforts.
“We will remain an acquisitive strategic integrator,” Asbury added.
Meanwhile, CACI reported this week sales during its most recent quarter reached nearly $1.2 billion, up almost 3 percent from the same three-month period a year earlier.
The contractor's quarterly profit hit $52 million, up 17 percent from the prior year.
CACI attributed the sales boost to “on-contract growth of existing work and new business wins.”
The profit gains were a result of the tax reform legislation and “improved program execution.” CACI said its profit boosts were offset by investments it made in a shared services center as well as higher incentive compensation.