ManTech Earnings

Defense contractor ManTech International today reported a steep decline in its quarterly sales and profit as the U.S. military ends wars overseas.

The company's sales fell 21 percent to $447.2 million, down from $567.4 million in the same three-month period a year ago. Profit declined to $15.5 million, down nearly 13 percent.

ManTech attributed its declining sales to "reduced requirements for support to the U.S. Army in Afghanistan." In one quarter in 2011, ManTech's sales in support of military operations abroad were as high as $275 million; in the most recent quarter, that figure was $44 million.

In a call with analysts this afternoon, George Pedersen, ManTech's chief executive, said the company is seeking growth in areas like cybersecurity, intelligence and health care to compensate.

"Our revenues are stabilizing and we expect to return to growth in 2016," he said.