Engility Posts Loss

Engility said today sales grew in its most recent quarter, following the acquisition of TASC in late February, but the company suffered a loss for the three-month period.

The contractor reported quarterly sales of $402.6 million for the three-month period that ended March 31, up from $338.8 million in the same quarter last year. However, the company lost $13.4 million, down from the $8.9 million in profit it earned in the same quarter in 2014.

Engility said the quarter included one month of TASC sales and $28 million in acquisition-related costs.

Tony Smeraglinolo, Engility's chief executive, told analysts during a conference call this afternoon that TASC is contributing to what he described as an "expanded pipeline" of new business opportunities.

However, he said, Engility remains "guarded on the macro environment."

"We continue to experience industry headwinds," he said, citing the lengthy wait for contracts to be awarded. "Despite these headwinds, we continue to believe 2015 will be the year of stabilization for our business."