Anteon reports modest growth
- By John Moore
- Oct 26, 2005
Anteon has continued to get new work on existing contracts, and has developed a successful simulation business, two factors that the company credits with contributing to third-quarter revenue growth.
The systems integrator today reported revenue of $382.1 million for its third quarter ended Sept. 30, a 17.3 percent increase over $325.6 million in the previous year’s third quarter. The company saw a 24.4 percent boost in net income to $21 million compared with $16.8 million in the same quarter a year ago. Diluted earnings per share increased 22.2 percent to 55 cents, compared with 45 cents last year.
Dan Johnson, executive vice president and chief operating officer at Anteon, said the company’s simulation and training group received $15 million in delivery orders from Army facilities, contributing to the growth. Johnson said that work on the company’s Technical Operations Program Support contract with the Air Force.
Looking to the future, Joseph Kampf, president and chief executive officer of Anteon, said the recently acquired Milestone Group is expected to play a significant role in the planned transition of Missile Defense Agency operations from Washington, D.C. to Huntsville, Ala. and Colorado Springs, Colo. The Missile Defense Agency is Milestone’s largest customer. Anteon acquired Milestone in a $31.5 million transaction earlier this month.