Perspecta reports improved sales, lower profit

Perspecta said this week sales in its most recent quarter reached $1.1 billion, up 49 percent from the same three-month period a year earlier.

The contractor's quarterly profit hit $38 million, down 63 percent from the prior year.

Perspecta attributed its sales growth to its mergers; the company was created in late May 2018 by combining DXC Technology's U.S. public-sector business with Vencore and KeyPoint Government Solutions. The results before May reflect only the public-sector business' results.

The company said sales were up "slightly" when taking into account the mergers and noted "continued growth" in its background investigations work.

Acknowledging the profit decline, Perspecta said it saw a $59 million tax benefit in last year's quarter as a result of tax legislation.