The Insider

Perspecta reports sales boost

August 15, 2018 at 10:14 AM

Perspecta said this week sales in its most recent quarter hit $793 million, up 17 percent from the same three-month period the prior year.

The contractor's quarterly profit reached $29 million, down about 9 percent from a year earlier.

During a call with analysts this week, Perspecta executives said the company's quarterly revenue was driven by 11 percent growth in its defense and intelligence segment.

Mac Curtis, Perspecta's chief executive, said during the same call the company is working on an extension of the Navy's Next Generation Enterprise Network -- or NGEN -- program.

The existing contract, he said, comes to a conclusion at the end of September. The recompetition is also underway.

"We're in the process of negotiating a sole-source extension for this contract," Curtis said. "We expect to have that signed in the next two or three weeks."

198186