ManTech revenue rises
- By John Moore
- May 04, 2006
ManTech International reported a 26.6 percent increase in March quarter revenue, attributing the gain to its focus on national security-related programs.
The company generated revenue of $275.3 million in the quarter compared with $217.5 million a year ago. ManTech’s defense, intelligence, and homeland security work generated about 95 percent of March quarter revenue, said Kevin Phillips, ManTech’s chief financial officer.
Net income for the quarter rose slightly to $12.1 million, or $0.36 per diluted share, compared with $11.9 million, or $0.36 per diluted share in the year-earlier quarter. On a pro forma basis, ManTech reported diluted earnings per share of $0.41, a 28.1 percent increase compared with $0.32 last year. Those numbers reflect results from continuing operations prior to the effect of stock option expense.
ManTech's contract wins for the quarter totaled $290 million. New awards include a $114 million task order to support the Army in southwest Asia.