CACI reports sales, profit growth

By Marjorie Censer / August 17, 2017 at 11:28 AM

CACI International said today sales in the company's most recent quarter reached $1.1 billion, up 2 percent from the same three-month period a year earlier.

The contractor's profit hit $44.2 million, up 1 percent from the prior year.

Ken Asbury, CACI's chief executive, told Inside Defense the company is preparing for modest growth -- but hopes to see budgets grow in coming years.

"We don't have a budget yet," Asbury said of the federal government's spending plan. "What I see announced about what they'd like the budget to be could put us on a more aggressive growth path, but until we get through the machinations of the administration and the Congress of doing that, I think our original guidance was good."

He said in a Thursday morning call with analysts the company is expecting to begin the next fiscal year with a continuing resolution, but hoping to avoid a government shutdown.

"I worry about it," Asbury said. "We don't need any more uncertainty . . . and I hope that cooler heads will come together."