CACI Headquarters - Arlington, VA
By Jennifer Lanning Drey
Portland, Ore., June 30 - CACI International Inc. expects to increase revenues and net income in fiscal 2011, with growth likely fueled in part by its merger-and-acquisition program, chief executive officer Paul Cofoni said Wednesday during a company conference call.
"There are ample excellent acquisition candidates to pursue, and with the recent stabilization of the capital markets, we’re back in full force," Cofoni said.
CACI announced its fiscal 2011 guidance Tuesday, which included projected revenues of $3.25 billion to $3.40 billion and net income of $116 million to $122 million.
The company’s fiscal 2011 begins July 1.
Cofoni said the company expects to continue to meet its financial goals of double-digit earnings-per-share growth and mid- to high-single-digit organic revenue growth in fiscal 2011.
CACI expects to generate free cash flow of at least $135 million in fiscal 2011, excluding the impact of any acquisitions or share repurchases.
"We enter fiscal 2011 firmly committed to executing our growth strategy and meeting our financial goals," Cofoni said.
In addition to looking for potential acquisitions, CACI’s growth strategy is based on providing national security related services in well-funded areas of the government and building on its current client relationships in focus areas, he said.
CACI is confident in the growth projected in fiscal 2011, as threats to national security are likely to remain high. Cofoni also noted that the proposed budget for the federal government’s fiscal 2011 contains increased funding in key areas aligned with the company’s strengths.
"This guidance reflects the management team’s confi dence in and commitment to our strategy for growth and our ability to execute that strategy," Cofoni said.
CACI is an Arlington, Va.-based provider of information systems and technology and professional services primarily to the U.S. government.