ManTech Boosts Profit

Defense contractor ManTech International reported today that sales fell in its most recent quarter, but profit grew.

The company said quarterly revenue hit $411 million, down from almost $492 million in the same period a year earlier.

ManTech blamed its lower sales on reduced Army needs in Afghanistan. Work overseas contributed $31 million in quarterly sales, down from $102 million in quarterly sales the prior year.

ManTech's profit for the three-month period ended Dec. 31, however, reached $14.5 million, up from a nearly $66 million loss during the same quarter the prior year.

In a statement, George Pedersen, ManTech's chief executive, said that he expects growth in 2015. "The budget outlook is much brighter, and award activity is slowly returning to normal," he said.