CACI reports bolstered sales, profit, while Oshkosh records lower defense sales

By Marjorie Censer / November 1, 2018 at 10:57 AM

CACI International said late yesterday sales in its most recent quarter reached nearly $1.2 billion, up about 7 percent from the same three-month period a year earlier.

The contractor's quarterly profit hit $79 million, up almost 88 percent from the prior year.

CACI said its sales were "driven by new business wins, on-contract growth, and acquired contracts." The company's profit was buoyed by program performance, revenue timing and a lower tax rate.

In a call with analysts this morning, Ken Asbury, CACI's chief executive, said the company is not concerned about a potential $700 billion defense budget.

That level of budget "is a very healthy market, if that's where it ends up," he said, noting the company expects to know more next month.

Meanwhile, Oshkosh said today quarterly sales in its defense group fell 22 percent to hit $465 million.

"The decrease in sales was due to the absence of international Mine Resistant Ambush Protected-All Terrain Vehicle (M-ATV) sales in the fourth quarter of fiscal 2018, offset in part by the continued ramp up of sales to the U.S. government under the Joint Light Tactical Vehicle (JLTV) program and higher aftermarket parts sales," the company said.

The unit's quarterly profit hit $62 million, down almost 15 percent from the same period the prior year.

"The decrease in adjusted operating income was due to the impact of lower sales volume and an adverse product mix, offset in part by improved manufacturing performance," Oshkosh said.

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