CACI Q1 Profit Slides, Backs Full Year View

(RTTNews) - CACI International Inc. (CACI), an information solutions and services provider to the federal government, said first-quarter net income attributable to the company slipped to $31.1 million from $33.0 million in the previous year.

Earnings per share slid to $1.29 from $1.33. Adjusted earnings per share were $1.81, while it totaled $1.80 last year.

On average, 12 analysts polled by Thomson Reuters expected earnings of $1.21 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue declined to $814.7 million from $864.3 million in the prior year. Analysts expected revenues of $856.86 million.

The revenue decline was primarily attributable to a reduction of material purchases and subcontract labor resulting from the drawdown in Southwest Asia and federal government budget-related reduction activities, partially offset by increased direct labor.

Further, the company reiterated its guidance for 2015. Earnings per share are expected in the range of $5.10 - $5.51, and revenue is estimated to be between $3.30 billion and $3.60 billion.

Analysts expect earnings of $5.34 per share on revenues of $3.50 billion.

The stock closed up 0.2 percent at $74.52.