CACI Issues Guidance for Its Fiscal Year 2018
June 21 2017 - 4:15PM
Business Wire
Revenue projected to be $4.35 to $4.5
billion
Organic revenue growth projected to be 2.6
percent at mid-point of guidance ranges
Net income projected to be $165 million to
$173 million
Operating cash flow projected to be greater
than $280 million
FY 2017 guidance reiterated
CACI International Inc (NYSE: CACI), a leading information
solutions and services provider to the federal government, issued
its guidance for its Fiscal Year 2018 (FY18) which begins July 1,
2017, and reiterated its Fiscal Year 2017 (FY17) guidance.
Commentary
Ken Asbury, CACI’s President and CEO said, “Our FY18 guidance
builds on our solid performance during FY17 and meets our key
financial goals of growing revenue organically one to four percent
above our addressable market and growing our margins 10 to 30 basis
points. We are confident in our market-based strategy to deliver
high-end solutions and services that enable our customers to
perform their critical missions. We believe we are well-positioned
to win, take market share, and continue to build long-term
shareholder value.”
Guidance for Fiscal Year 2018
The table below summarizes our FY18 guidance ranges and
represents our views as of June 21, 2017:
(In millions except for tax rate and
earnings per share)
Fiscal Year 2018Guidance
Revenue $4,350 - $4,500 Net income
attributable to CACI $165 - $173
Effective corporate tax rate 36.5%
Diluted earnings per share $6.52 -
$6.84 Diluted weighted average shares
25.3
Following are the key factors related to our FY18 guidance:
- We expect that our gross profit margin
will range between 32 percent and 33 percent.
- We expect indirect costs and selling
expenses will be approximately flat to slightly below FY17.
- Depreciation and amortization is
expected to be approximately $75 million.
- Net interest expense is expected to be
approximately $45 million.
- We expect that operating cash flow will
be greater than $280 million.
- We expect that capital expenditures
will total approximately $35 to $40 million, driven by facility
consolidation, IT improvements, and new facilities to support
expected new business wins.
FY17 Guidance Reiterated
We are reiterating the FY17 guidance we issued on May 3, 2017.
The table below summarizes our FY17 guidance and represents our
views as of June 21, 2017:
(In millions except for tax rate and
earnings per share)
FY 2017Guidance
Revenue $4,275 - $4,350 Net income
attributable to CACI $157 - $163
Effective corporate tax rate 34.3%
Diluted earnings per share $6.25 -
$6.49 Diluted weighted average shares
25.1
We have scheduled a conference call for 8:30 AM Eastern Time
Thursday, June 22, 2017, during which members of our senior
management will be making a brief presentation followed by a
question-and-answer session to discuss the guidance and
management’s performance expectations for the new fiscal year. You
can listen to the conference call and view accompanying exhibits
over the Internet by logging on to CACI’s website at www.caci.com
at the scheduled time. You may also dial in to 1-888-317-6003,
confirmation code 8451673. Slides of the presentation will be
available on our website during the call. A replay of the call will
also be available over the Internet, and can be accessed through
CACI’s website (www.caci.com).
CACI provides information solutions and services in support of
national security missions and government transformation for
Intelligence, Defense, and Federal Civilian customers. CACI is a
member of the Fortune 1000 Largest Companies, the Russell 2000
Index, and the S&P SmallCap600 Index. CACI’s sustained
commitment to ethics and integrity defines its corporate culture
and drives its success. With approximately 19,000 employees
worldwide, CACI provides dynamic career opportunities for military
veterans and industry professionals to support the nation’s most
critical missions. Join us! Visit www.caci.com.
There are statements made herein which do not address historical
facts and, therefore, could be interpreted to be forward-looking
statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Such statements are subject to
factors that could cause actual results to differ materially from
anticipated results. The factors that could cause actual results to
differ materially from those anticipated include, but are not
limited to, the following: legal, regulatory, and political change
as a result of transitioning to a new presidential administration
that could result in economic uncertainty; changes in U.S. federal
agencies, current agreements with other nations, foreign events, or
any other events which may affect the global economy; regional and
national economic conditions in the United States and globally;
terrorist activities or war; changes in interest rates; currency
fluctuations; significant fluctuations in the equity markets;
changes in our effective tax rate; failure to achieve contract
awards in connection with re-competes for present business and/or
competition for new business; the risks and uncertainties
associated with client interest in and purchases of new products
and/or services; continued funding of U.S. government or other
public sector projects, based on a change in spending patterns,
implementation of spending cuts (sequestration) under the Budget
Control Act of 2011, or any legislation that amends or changes
discretionary spending levels under that act; changes in budgetary
priorities or in the event of a priority need for funds, such as
homeland security; government contract procurement (such as bid
protest, small business set asides, loss of work due to
organizational conflicts of interest, etc.) and termination risks;
the results of government audits and reviews conducted by the
Defense Contract Audit Agency, the Defense Contract Management
Agency, or other governmental entities with cognizant oversight;
individual business decisions of our clients; paradigm shifts in
technology; competitive factors such as pricing pressures and/or
competition to hire and retain employees (particularly those with
security clearances); market speculation regarding our continued
independence; material changes in laws or regulations applicable to
our businesses, particularly in connection with (i) government
contracts for services, (ii) outsourcing of activities that have
been performed by the government, and (iii) competition for task
orders under Government Wide Acquisition Contracts (GWACs) and/or
schedule contracts with the General Services Administration; the
ability to successfully integrate the operations of our recent and
any future acquisitions; our own ability to achieve the objectives
of near term or long range business plans; and other risks
described in our Securities and Exchange Commission filings.
CACI-Earnings Release
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CACI International IncCorporate Communications and Media:Jody
Brown, Executive Vice President, Public
Relations703-841-7801jbrown@caci.comorInvestor Relations:David
Dragics, Senior Vice President, Investor
Relations866-606-3471ddragics@caci.com
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