Record second quarter revenue of $1.09
billion, up 2.9 percent
Record operating income of $88.3 million, up
10.0 percent
Net income of $142.8 million
Diluted EPS of $5.66
Net income of $50.5 million excluding the
impact of Tax Reform (non-GAAP)
Diluted EPS of $2.00 excluding the impact of
Tax Reform (non-GAAP)
Contract awards of $1.1 billion
Operating cash flow of $76.1 million
Fiscal Year 2018 guidance raised
CACI International Inc (NYSE: CACI), a leading information
solutions and service provider to the federal government, announced
results today for its second fiscal quarter ended December 31,
2017.
CEO Commentary and Outlook
Ken Asbury, CACI’s President and CEO, said, “I am pleased with
our second quarter and first half results. We produced another
quarter of organic revenue growth, record operating income, and
strong cash flow. These results reflect continued high-quality
execution for our customers across our company and are in line with
our expectations to deliver on our long-term organic revenue and
margin expansion goals. We are raising our net income annual
guidance to account for strong operating performance year-to-date
and expectations for the remainder of FY18. In addition, we are
incorporating the benefits we have derived from the recent Tax Cuts
and Jobs Act in our guidance.”
Second Quarter Results as
Reported
(in millions
except per-share data) Q2, FY18
Q2, FY17 % Change Revenue
$1,087.9 $1,057.5
2.9% Operating income $88.3
$80.3 10.0% Net income
$142.8 $42.4
236.6% Diluted earnings per share $5.66
$1.69 234.7%
Second Quarter Results Excluding the
Impact of Tax Reform(1)
(in millions
except per-share data) Q2, FY18
Q2, FY17 % Change Revenue
$1,087.9 $1,057.5
2.9% Operating income $88.3
$80.3 10.0% Net income, excluding the
impact of Tax Reform(1) $50.5
$42.4 19.1% Diluted earnings per share
excluding the impact of Tax Reform(1) $2.00
$1.69 18.5%
(1) See Reconciliation of Net Income to
Non-GAAP Net Income excluding the impact of Tax Reform page 11
Revenue for the second quarter of Fiscal Year 2018 (FY18)
increased compared to the second quarter of Fiscal Year 2017
(FY17), driven primarily by on-contract growth of existing work and
new business wins. The higher operating income was due primarily to
improved program execution. The increase in net income was due to
the factors noted above and the impact of the passage of Tax Reform
legislation, as depicted in the above table and further explained
below. Cash provided by operations in the quarter was $76.1
million.
Tax Cuts and Jobs Act
The Tax Cut and Jobs Act (“Tax Reform”) was enacted on December
22, 2017, and is reflected in our second quarter net income and
EPS. On an ongoing basis, our statutory federal income tax rate
will be 21 percent versus 35 percent, and we will be impacted by
several other Tax Reform provisions. In addition, our second
quarter net income benefited from a reduction in our net deferred
tax liability of $94.8 million due to the lower tax rate, partially
offset by a tax expense of $9.7 million associated with cumulative
foreign earnings. We expect our net effective tax rate in Fiscal
Year 2019 and beyond to be approximately 24 percent under the
current law. Tax Reform increased second quarter net income by
$92.3 million (or $3.66 per diluted share). See page 11 of this
release for a reconciliation of second quarter results as reported
to second quarter results excluding the impact of Tax Reform as
reported.
Additional Financial Metrics
Q2, FY18 Q2, FY17
% Change Adjusted earnings before interest, taxes,
depreciation and amortization (EBITDA), a non-GAAP measure (in
millions)(1) $105.4 $98.8
6.7% Diluted adjusted earnings per share, a
non-GAAP measure(1) $6.31
$2.30 173.8% Days sales outstanding
61 60
(1) See Reconciliation of Net Income to
Earnings before Interest, Taxes, Depreciation and Amortization, to
Adjusted Net Income on page 10
Second Quarter Awards and Contract Funding Orders
Our contract awards in the quarter were $1.1 billion, which
excludes ceiling values of multi-award indefinite delivery,
indefinite quantity (IDIQ) contracts. Our contract awards were
primarily in the Business Systems and Intelligence-related market
areas. Approximately 40 percent of our significant awards were for
new business.
Contract funding orders in the second quarter were $750 million,
equal to the second quarter of FY17. Our total backlog at December
31, 2017 was $10.9 billion. Funded backlog at December 31, 2017 was
$1.9 billion.
Other Highlights
- CACI has been ranked by Fortune
magazine as a World’s Most Admired Company for 2018, our seventh
time on the list. Fortune’s Most Admired Companies survey
identifies companies that enjoy the strongest reputations within
their industries as business leaders who deliver valuable solutions
and services with ethics and integrity. CACI ranked fifth in the IT
Services industry worldwide.
- CACI’s Cyber Range test environment,
which enables cyber exercises to be conducted in a realistic
“live-fire” virtual environment, received certification against the
International Organization for Standardization (ISO) 27001:2013
credential, confirming that it adheres to best practices for
information security as defined by the ISO standard.
Six Months Results as Reported
(in millions
except per-share data) Six Months,
FY18
Six Months,
FY17
% Change Revenue $2,173.7
$2,130.8 2.0% Operating
income $155.6 $149.9
3.8% Net income $184.8
$79.1 133.7% Diluted
earnings per share $7.33
$3.16 131.6%
Six Months Results Excluding the Impact
of Tax Reform(1)
(in millions except per-share data)
Six Months,
FY18
Six Months,
FY17
% Change Revenue $2,173.7
$2,130.8 2.0% Operating
income $155.6 $149.9
3.8% Net income excluding the impact of Tax
Reform(1) $92.6 $79.1
17.1% Diluted earnings per share excluding the
impact of Tax Reform(1) $3.67
$3.16 16.0%
(1) See Reconciliation of Net
Income to non-GAAP Net Income excluding the impact of Tax Reform on
page 11
Revenue in the first half of FY18 increased compared to the year
earlier period due primarily by on-contract growth of existing work
and new business wins. Operating income and net income increased
primarily due to the factors noted above. Net cash provided by
operations in the first half of FY18 was $155.8 million, 15 percent
higher than net cash provided by operations in the first half of
FY17.
Additional Financial Metrics
Six Months,
FY18
Six Months, FY17 % Change
Adjusted earnings before interest, taxes, depreciation and
amortization (EBITDA), a non-GAAP measure (in millions)(1)
$189.4 $187.0
1.3% Diluted adjusted earnings per share, a non-GAAP
measure(1) $8.62 $4.37
97.0%
(1) See Reconciliation of Net
Income to Earnings before Interest, Taxes, Depreciation and
Amortization, to Adjusted Net Income page 10
CACI Raises Its FY18 Net Income Guidance
We are increasing our FY18 net income guidance to reflect strong
operating performance. In addition, the recent Tax Reform
legislation is expected to add approximately $100 million to net
income, which is also incorporated in our updated guidance. The
increase in guidance for diluted earnings per share is driven by
the higher net income. The table below summarizes our FY18
expectations and represents our views as of January 31, 2018.
(In millions except for tax rate and
earnings per share)
Current Fiscal
Year 2018
Guidance
Fiscal Year 2018
Excluding Tax Reform
Guidance(2)
Previous Fiscal
Year 2018
Guidance
Revenue $4,350 - $4,500
$4,350 - $4,500 $4,350 - $4,500 Net income
$277 - $283 $177 - $183
$171 - $179 Effective corporate tax rate
-3.4% 33.4%
34.5% Diluted earnings per share $10.95
- $11.19 $7.00 - $7.23
$6.76 - $7.08 Diluted weighted average shares
25.3 25.3 25.3
(2) Non-GAAP guidance
(excluding the impact of Tax Reform)
Conference Call Information
We have scheduled a conference call for 8:30 AM Eastern Time
Thursday, February 1, 2018 during which members of our senior
management team will be making a brief presentation focusing on
second quarter results and operating trends followed by a
question-and-answer session. You can listen to the conference call
and view the accompanying exhibits over the Internet by logging on
to our homepage, www.caci.com, at the scheduled time. A replay of
the call will also be available over the Internet and can be
accessed through our homepage (www.caci.com) by clicking on the
CACI Investor Info button.
CACI provides information solutions and services in support of
national security missions and government transformation for
Intelligence, Defense, and Federal Civilian customers. A Fortune
Magazine World’s Most Admired Company in the IT Services industry,
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 18,700 employees
worldwide, CACI provides dynamic career opportunities for military
veterans and industry professionals to support the nation’s most
critical missions. Join us! 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
Selected Financial Data CACI
International Inc Condensed Consolidated Statements of
Operations (Unaudited) (Amounts in thousands, except per share
amounts)
Quarter Ended Six Months Ended
12/31/2017 12/31/2016 % Change
12/31/2017
12/31/2016 % Change Revenue $ 1,087,860 $ 1,057,530
2.9 % $ 2,173,674 $ 2,130,810 2.0 % Costs of
revenue Direct costs 727,160 705,321 3.1 % 1,466,838 1,433,542 2.3
% Indirect costs and selling expenses 254,180 253,822 0.1 % 515,424
511,160 0.8 % Depreciation and amortization 18,258
18,132 0.7 % 35,846 36,195
-1.0 % Total costs of revenue 999,598
977,275 2.3 % 2,018,108 1,980,897
1.9 % Operating income 88,262 80,255 10.0 % 155,566 149,913
3.8 % Interest expense and other, net 10,956
12,325 -11.1 % 22,203 24,814
-10.5 % Income before income taxes 77,306 67,930 13.8 % 133,363
125,099 6.6 % Income taxes (65,489 ) 25,510
-356.7 % (51,478 ) 46,016 -211.9 % Net income
$ 142,795 $ 42,420 236.6 % $ 184,841 $ 79,083
133.7 % Basic earnings per share $ 5.80 $ 1.74 233.4
% $ 7.53 $ 3.25 131.9 % Diluted earnings per share $ 5.66 $ 1.69
234.7 % $ 7.33 $ 3.16 131.6 % Weighted average shares used
in per share computations: Basic 24,622 24,387 24,555 24,363
Diluted 25,211 25,069 25,228 24,998
Statement of
Operations Data (Unaudited) Quarter Ended Six
Months Ended 12/31/2017 12/31/2016 % Change
12/31/2017 12/31/2016 % Change Operating income
margin 8.1 % 7.6 % 7.2 % 7.0 % Tax rate -84.7 % 37.6 % -38.6 % 36.8
% Net income margin 13.1 % 4.0 % 8.5 % 3.7 % EBITDA* $
105,389 $ 98,793 6.7 % $ 189,399 $ 187,032 1.3 % EBITDA Margin 9.7
% 9.3 % 8.7 % 8.8 % Adjusted net income* $ 159,084 $ 57,777
175.3 % $ 217,350 $ 109,299 98.9 % Diluted adjusted earnings per
share $ 6.31 $ 2.30 173.8 % $ 8.62 $ 4.37 97.0 %
*See Reconciliation of Net Income to
Earnings before Interest, Taxes, Depreciation and Amortization and
to Adjusted Net Income on page 11.
Selected Financial Data
(Continued) CACI International Inc Condensed
Consolidated Balance Sheets (Unaudited) (Amounts in thousands)
12/31/2017 6/30/2017 ASSETS: Current
assets Cash and cash equivalents $ 56,328 $ 65,539 Accounts
receivable, net 758,141 757,341 Prepaid expenses and other current
assets 73,697 57,022 Total current assets 888,166
879,902 Goodwill and intangible assets, net 2,858,366
2,812,806 Property and equipment, net 101,470 91,749 Other
long-term assets 136,131 126,625 Total assets $
3,984,133 $ 3,911,082
LIABILITIES AND SHAREHOLDERS'
EQUITY: Current liabilities Current portion of long-term debt $
80,947 $ 53,965 Accounts payable 91,056 62,874 Accrued compensation
and benefits 234,999 239,741 Other accrued expenses and current
liabilities 166,359 170,164 Total current liabilities
573,361 526,744 Long-term debt, net of current portion
1,070,846 1,177,598 Other long-term liabilities 353,106
413,019 Total liabilities 1,997,313 2,117,361
Shareholders' equity 1,986,820 1,793,721 Total
liabilities and shareholders' equity $ 3,984,133 $ 3,911,082
Selected Financial Data
(Continued) CACI International Inc Condensed
Consolidated Statements of Cash Flows (Unaudited) (Amounts in
thousands)
Six Months Ended 12/31/2017
12/31/2016 CASH FLOWS FROM OPERATING ACTIVITIES: Net
income $ 184,841 $ 79,083
Reconciliation of net income to net cash
provided by operating activities:
Depreciation and amortization 35,846 36,195 Amortization of
deferred financing costs 2,212 2,252 Loss on disposal of fixed
assets - 975 Stock-based compensation expense 12,389 10,557
Deferred income taxes (83,212 ) 5,081 Equity in earnings of
unconsolidated ventures - (103 ) Changes in operating assets
and liabilities Accounts receivable, net 7,367 71,080 Prepaid
expenses and other assets (10,107 ) 1,649 Accounts payable and
accrued expenses 15,190 (58,873 ) Accrued compensation and benefits
(11,126 ) (15,339 ) Income taxes receivable and payable (3,796 )
(391 ) Other liabilities 6,157 3,184
Net cash provided by operating activities 155,761
135,350
CASH FLOWS FROM INVESTING
ACTIVITIES: Capital expenditures (22,013 ) (21,826 ) Purchases
of businesses, net of cash acquired (45,565 ) (5,605 ) Proceeds
from net working capital refund - 13,619 Proceeds from equity
method investments - 4,681 Other (183 ) 1,051
Net cash used in investing activities (67,761 )
(8,080 )
CASH FLOWS FROM FINANCING ACTIVITIES: Net
payments under credit facilities (81,983 ) (98,491 ) Payment of
contingent consideration (3,630 ) - Proceeds from employee stock
purchase plans 2,459 2,262 Repurchases of common stock (2,463 )
(2,243 ) Payment of taxes for equity transactions (12,656 )
(3,632 ) Net cash used in financing activities
(98,273 ) (102,104 ) Effect of exchange rate changes on cash
and cash equivalents 1,062 (1,598 ) Net
(decrease) increase in cash and cash equivalents (9,211 ) 23,568
Cash and cash equivalents, beginning of period 65,539
49,082 Cash and cash equivalents, end of period $
56,328 $ 72,650
Selected Financial
Data (Continued)
Revenue by Customer Type (Unaudited) Quarter Ended
(dollars in thousands)
12/31/2017 12/31/2016
$ Change
% Change Department of Defense $ 720,239 66.2 % $
684,673 64.8 % $ 35,566 5.2 % Federal Civilian Agencies 296,230
27.2 % 308,053 29.1 % (11,823 ) -3.8 % Commercial and other
71,391 6.6 % 64,804 6.1 % 6,587
10.2 % Total $ 1,087,860 100.0 % $ 1,057,530
100.0 % $ 30,330 2.9 %
Six Months Ended
(dollars in thousands)
12/31/2017 12/31/2016
$ Change
% Change Department of Defense $ 1,434,292 66.0 % $
1,376,876 64.6 % $ 57,416 4.2 % Federal Civilian Agencies 602,766
27.7 % 621,846 29.2 % (19,080 ) -3.1 % Commercial and other
136,616 6.3 % 132,088 6.2 % 4,528
3.4 % Total $ 2,173,674 100.0 % $ 2,130,810
100.0 % $ 42,864 2.0 %
Revenue by
Contract Type (Unaudited) Quarter Ended
(dollars in thousands)
12/31/2017
12/31/2016
$ Change
% Change
Cost reimbursable $ 549,400 50.5 % $ 495,080 46.8 % $ 54,320 11.0 %
Fixed price 365,634 33.6 % 361,141 34.2 % 4,493 1.2 % Time and
materials 172,826 15.9 % 201,309 19.0 %
(28,483 ) -14.1 % Total $ 1,087,860 100.0 % $
1,057,530 100.0 % $ 30,330 2.9 %
Six
Months Ended (dollars in thousands)
12/31/2017 12/31/2016
$ Change
% Change
Cost reimbursable $ 1,103,129 50.8 % $ 1,029,662 48.3 % $ 73,467
7.1 % Fixed price 724,380 33.3 % 704,454 33.1 % 19,926 2.8 % Time
and materials 346,165 15.9 % 396,694
18.6 % (50,529 ) -12.7 % Total $ 2,173,674
100.0 % $ 2,130,810 100.0 % $ 42,864 2.0 %
Revenue Received as a Prime versus Subcontractor
(Unaudited) Quarter Ended
(dollars in thousands)
12/31/2017 12/31/2016
$ Change
% Change Prime $ 1,019,772 93.7 % $ 984,642 93.1 % $
35,130 3.6 % Subcontractor 68,088 6.3 % 72,888 6.9 %
(4,800 ) -6.6 % Total $ 1,087,860 100.0 % $
1,057,530 100.0 % $ 30,330 2.9 %
Six
Months Ended (dollars in thousands)
12/31/2017 12/31/2016
$ Change
% Change Prime $ 2,032,975 93.5 % $ 1,981,099 93.0 %
$ 51,876 2.6 % Subcontractor 140,699 6.5 %
149,711 7.0 % (9,012 ) -6.0 % Total $
2,173,674 100.0 % $ 2,130,810 100.0 % $ 42,864
2.0 %
Contract Funding Orders Received (Unaudited)
Quarter Ended (dollars in
thousands)
12/31/2017 12/31/2016
$ Change
% Change
Contract Funding Orders $ 750,330 $ 751,703 $ (1,373 ) -0.2 %
Six Months Ended (dollars in
thousands)
12/31/2017 12/31/2016
$ Change
% Change Contract Funding Orders $ 2,222,703 $ 1,914,594 $
308,109 16.1 %
Selected Financial Data (Continued)
Reconciliation of Net Income to Adjusted
Earnings Before Interest, Taxes, Depreciation and Amortization
(EBITDA), and Adjusted Net Income
(Unaudited)
The Company views Adjusted EBITDA, Adjusted EBITDA margin,
Adjusted Net Income, and Diluted Adjusted Earnings Per Share, all
of which are defined as non-GAAP measures, as important indicators
of performance, consistent with the manner in which management
measures and forecasts the Company’s performance. Adjusted EBITDA
is a commonly used non-GAAP measure when comparing our results with
those of other companies. We define Adjusted EBITDA as GAAP net
income plus net interest expense, income taxes, depreciation and
amortization, and earnout adjustments. We consider Adjusted EBITDA
to be a useful metric for management and investors to evaluate and
compare the ongoing operating performance of our business on a
consistent basis across reporting periods, as it eliminates the
effect of non-cash items such as depreciation of tangible assets,
amortization of intangible assets primarily recognized in business
combinations, as well as the effect of earnout gains and losses,
which we do not believe are indicative of our core operating
performance. Adjusted EBITDA margin is adjusted EBITDA divided by
revenue. We define Adjusted Net Income as GAAP net income plus
stock-based compensation expense, depreciation and amortization,
amortization of financing costs, and earnout adjustments, net of
related tax effects. We believe Adjusted Net Income is an important
measure of long-term value and is used by investors to measure our
performance. This measure in particular assists readers in further
understanding our results and trends from period-to-period by
removing certain non-cash items that do not impact the cash flow
performance of our business. Adjusted EBITDA and Adjusted Net
Income as defined by us may not be computed in the same manner as
similarly titled measures used by other companies. These non-GAAP
measures should not be considered in isolation or as a substitute
for performance measures prepared in accordance with GAAP.
Quarter
Ended Six Months Ended (dollars in thousands)
12/31/2017 12/31/2016
% Change 12/31/2017 12/31/2016
% Change Net income $ 142,795 $ 42,420 236.6 %
$ 184,841 $ 79,083 133.7 % Plus: Income taxes (65,489 ) 25,510
-356.7 % (51,478 ) 46,016 -211.9 % Interest expense, net 10,956
12,325 -11.1 % 22,203 24,918 -10.9 % Depreciation and amortization
18,258 18,132 0.7 % 35,846 36,195 -1.0 % Earnout adjustments
(1,131 ) 406 -378.6 % (2,013 )
820 -345.5 % Adjusted EBITDA $ 105,389
$ 98,793 6.7 % $ 189,399
$ 187,032 1.3 %
Quarter Ended Six
Months Ended (dollars in thousands)
12/31/2017
12/31/2016 % Change
12/31/2017 12/31/2016
% Change Revenue, as reported $ 1,087,860 $ 1,057,530 2.9 %
$ 2,173,674 $ 2,130,810 2.0 % Adjusted EBITDA $ 105,389
$ 98,793 6.7 % $ 189,399 $
187,032 1.3 % Adjusted EBITDA margin 9.7 %
9.3 % 8.7 % 8.8 %
Quarter Ended Six Months Ended
(dollars in thousands)
12/31/2017
12/31/2016 % Change 12/31/2017
12/31/2016 % Change Net income $
142,795 $ 42,420 236.6 % $ 184,841 $ 79,083 133.7 % Plus:
Stock-based compensation 6,038 5,660 6.7 % 12,389 10,557 17.4 %
Depreciation and amortization 18,258 18,132 0.7 % 35,846 36,195
-1.0 % Amortization of financing costs 1,104 1,124 -1.8 % 2,212
2,252 -1.8 % Earnout adjustments (1,131 ) 406 -378.6 % (2,013 ) 820
-345.5 % Less: Related tax effect (7,980 )
(9,965 ) -19.9 % (15,925 ) (19,608 )
-18.8 % Adjusted net income $ 159,084 $ 57,777
175.3 % $ 217,350 $ 109,299
98.9 %
Selected Financial Data (Continued)
Reconciliation of Net Income Excluding the
Impact of Tax Reform
(Unaudited)
The Company views Net Income excluding the impact of Tax Reform,
a non-GAAP measure, as an important indicator of performance,
consistent with the manner in which management measures and
forecasts the Company’s performance. Net Income excluding the
impact of Tax Reform is defined as GAAP Net Income adjusted to
exclude the impact of Tax Reform. We believe this is an important
calculation to show company performance without the benefits of Tax
Reform. Management is incented to perform via metrics without the
impact of Tax Reform. This non-GAAP measure should not be
considered in isolation or as a substitute for performance measures
prepared in accordance with GAAP.
Three Months
Six Months (Amounts in thousands, except per share amounts)
12/31/2017 12/31/2017 Net
Diluted Net Diluted Income EPS
Income EPS Net Income, as reported $ 142,795 $ 5.66 $
184,841 $ 7.33 Tax reform benefit from lower tax rate and other
items (7,100 ) (0.28 ) (7,100 )
(0.28 ) Net Income before remeasurement and transition tax
reform adjustments $ 135,695 $ 5.38 $ 177,741 $ 7.05 Remeasurement
of deferred tax liabilities (94,831 ) (3.76 ) (94,831 ) (3.76 )
Transition tax on foreign earnings 9,676
0.38 9,676 0.38
Net income, excluding impact of tax reform $ 50,540 $
2.00 $ 92,586 $ 3.67
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180131006178/en/
CACI International IncCorporate Communications and Media:Jody
BrownExecutive Vice President, Public Relations(703)
841-7801jbrown@caci.comorInvestor Relations:David DragicsSenior
Vice President, Investor Relations(866)
606-3471ddragics@caci.com
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