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CACI Reports Q2 FY21 Results; John Mengucci Quoted

2 mins read
John Mengucci
John Mengucci President

CACI International has reported the financial results for the company’s second fiscal quarter ended December 31, 2020, CACI announced on Thursday. CACI’s Revenue in Q2 FY21 increased 5.2 percent year-over-year as reported and 4.3 percent organically.

“We delivered solid organic growth, and our focus on delivery and operational excellence again drove strong profitability and robust cash flow,” John Mengucci, CACI’s president and CEO and 2020 Wash100 Award recipient said. 

CACI reported that the year-over-year increase in operating income was driven by higher revenue, strong operating performance, favorable fixed-price contract performance and lower indirect costs. The company’s year-over-year increase in net income was due to higher operating income and lower interest expense, partially offset by a higher effective tax rate. 

The company announced that contract awards in Q2 FY21 totaled $2.1 billion. “We also won a healthy level of contract awards in what is typically a seasonally light quarter. We are confident in our ability to continue to deliver value to our customers and shareholders,” Mengucci added. 

Of the contract awards, CACI received a potential $160 million task order from the U.S. Air Force Central Command’s (AFCENT) Network Operations and Security Center (NOSC) to provide enterprise expertise including networking, technical, and cyber support to multiple deployed AFCENT NOSC sites through U.S. Central Command (CENTCOM).

The company was also awarded a five-year single award contract, with a ceiling value of $447 million, to provide acquisition mission technology, and a potential $376 million task order to deliver mission technology to modernize a web-based supply chain system.

In addition, CACI won a three-year task order, with a ceiling value of $96 million, to provide engineering and logistics expertise for the U.S. Army’s Medical Communications for Combat Casualty Care (MC4) Program, as well as an indefinite delivery/indefinite quantity contract, with a ceiling of $1.5 billion, to continue providing automated litigation support services to federal agencies.

Total backlog as of December 31, 2020 was $22.4 billion compared with $20.3 billion a year ago, an increase of 10 percent. Funded backlog as of December 31, 2020 was $2.9 billion compared with $2.8 billion a year ago, an increase of  three percent.

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