CACI International Revises Outlook - Analyst Blog
30 Giugno 2011 - 3:30PM
Zacks
CACI International Inc (CACI) recently revised
its outlook for fiscal year 2011 and issued its guidance for
fiscal 2012.
CACI International now expects revenues between $3.50 billion
and $3.60 billion compared to the previous guidance of $3.50
billion and $3.63 billion.
Net income is now projected between $133 million and $138
million, up from the previous estimate of $130 million – $135
million. Earnings per share (EPS) are now forecasted around $4.25 –
$4.40, up from the previous
estimate of $4.15 and $4.30.
For fiscal 2012, CACI International issued its guidance for
2012. Management expects revenues between $3.75 billion and $3.95
billion, up 6% – 11% above the midpoint of FY11 revenue guidance.
Net income is expected around $144 million and $150 million.
Earnings per share are anticipated between $4.60 and $4.80.
Operating cash flow is expected to come around $200 million.
FY12 guidance does not include any contribution from its proposed
acquisition of Pangia Technologies. Last week, CACI
International announced that it would acquire Maryland based Pangia
Technologies, LLC.
Pangia is a software engineering company that provides technical
solutions in the areas of computer network operations, information
assurance, mission systems, software and systems engineering, and
IT infrastructure support.
Pangia has contract vehicles with key members of the
Intelligence Community, the Department of Homeland Security, the
United States Air Force and the United States Navy.
Management expects that the acquisition will expand CACI’s
cybersecurity solutions and strengthen its presence in the markets
that it operates. CACI International provides critical IT
infrastructure for the Department of Defense and the Department of
Homeland Security.
The acquisition of Pangia Technologies will open new growth
opportunities for CACI and strengthen its technical offerings in
the area of cybersecurity. The acquisition is expected to close by
July 1, 2011. The acquisition is expected to be accretive to CACI’s
earnings per share during its first 12 months.
We are positive on the company’s contract wins and believe that
recent acquisitions should further expand the scale of operations.
We have an Outperform recommendation on the stock. Our
recommendation is supported by a Zacks #2 Rank, which
translates into a short-term rating of Buy.
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