CACI reports higher sales, lower profit

By Marjorie Censer / August 15, 2019 at 10:03 AM

CACI International said this week sales in its most recent quarter reached $1.4 billion, up 17% from the same three-month period a year earlier.

The company's quarterly profit hit $50 million, down almost 4% from the prior year.

CACI reported full-year sales were just shy of $5 billion, up almost 12% from the company's fiscal year 2018, while full-year profit totaled $266 million, down 12% from a year earlier.

CACI attributed its increased revenue to "acquired revenue, new business wins, and on-contract growth."

"The decrease in net income was due to the impact of the passage of tax reform legislation in FY-18," CACI said.

In a call with analysts today, John Mengucci, who took over as chief executive on July 1, said CACI remains focused on acquisitions.

"We're always involved in [mergers and acquisitions]," he said. "We're always looking for those long-term strategic targets."