CACI reports increased sales, profit

CACI International said this week sales during its most recent quarter reached $1.1 billion, up about 3 percent from the same three-month period a year earlier.

The contractor's quarterly profit hit $143 million, up nearly 237 percent from the prior year.

CACI attributed the profit boost to the new tax legislation, which it said increased profit by $92 million in the quarter.

Ken Asbury, CACI's chief executive, said in a call with analysts this morning he sees investing in talent as a good use for expected benefits from the tax legislation.

The company doesn't want to "get trapped into, 'We've got to get rates lower,'" he said. "We've got to get the ability to deliver outcomes higher."