CACI sees record results
- By Paula Shaki Trimble
- Apr 20, 2001
Strong growth in managed network services and the acquisition of N.E.T. Federal Inc. contributed to CACI International Inc.'s record financial results for its fiscal third quarter and the nine months ending March 31.
CACI announced Thursday that its revenue increased 21 percent over its third quarter in fiscal 2000 to $148.2 million. It expects revenues of $148 million to $155 million for the last quarter and revenues of $558 million to $563 million for the year.
"We remain firmly committed to our strategy to reach $1 billion in annual revenues by 2005," said Jack London, CACI chairman, president and chief executive officer. Government sales make up 85 percent of CACI's business. About 18 percent of the company's commercial and government business is from managed network services, compared with 13 percent in 2000.
CACI will continue to accelerate new business development in the government and seek acquisitions like N.E.T. Federal that complement its technology and customer base, London said.
While London acknowledged softness in the commercial information technology market, he said CACI has taken steps to minimize the impact.
CACI is allocating money previously intended for the commercial space into the government market, said Kenneth Johnson, president of CACI Inc.
Based on the commitments to improving government performance and national defense in President Bush's fiscal 2002 budget request, CACI is well-positioned to offer solutions that meet e-government strategies and performance initiatives, London said. CACI's managed network services, information assurance and systems integration business will fit in with the government's plans, he said.