ManTech reports increased sales, profit

ManTech International said this week sales in its most recent quarter reached $604 million, up 22% from the same three-month period a year earlier.

The contractor reported quarterly profit of nearly $41 million, about double its profit the prior year.

For 2019, ManTech said sales reached $2.2 billion, up 13% from 2018. Profit for the year totaled $114 million, up 39% from 2018.

The company said its profit benefited from a $12 million reduction to its income tax expense "resulting from the reassessment of current and prior years research and development tax credits."