|By Business Wire||
|June 25, 2014 04:00 PM EDT||
CACI International Inc (NYSE: CACI), a leading information solutions and services provider to the federal government, issued its guidance for its Fiscal Year 2015 (FY15), which begins July 1, 2014, and reiterated its Fiscal Year 2014 (FY14) guidance.
Guidance for Fiscal Year 2015
For FY15 we expect revenue to be between $3.3 billion and $3.6 billion and net income to be between $125 million and $135 million. We expect that operating cash flow for the year will be approximately $200 million.
The table below summarizes our FY15 guidance ranges and represents our views as of June 25, 2014:
(In millions except for tax rate and earnings per share)
Fiscal Year 2015
|Revenue||$3,300 - $3,600|
|Net income attributable to CACI||$125 - $135|
|Effective corporate tax rate||38.5%|
|Diluted earnings per share||$5.10 - $5.51|
|Diluted weighted average shares||24.5|
Ken Asbury, CACI’s President and CEO said, “In FY14 we positioned CACI for long-term success by strengthening business development and enhancing our unique, high-end skills and capabilities, most notably with the acquisition of Six3 Systems. While we expect market uncertainties to persist in FY15, we believe that our differentiated position, operational excellence, and demonstrated ability to win contract awards will help offset the impact of constrained federal spending.
“Consequently, as we look ahead to FY15, we are well-postured to support our customers’ critical missions and priorities with innovative solutions and services, delivering excellence in all we do. We will also continue to position CACI for success in those market areas where we see viable growth opportunities. We believe that these actions will further enhance CACI's competitive advantage and create long-term shareholder value.”
Following are the key factors related to our FY15 guidance:
- We expect that uncertainty with regard to federal spending will continue; that there is more clarity with regard to U.S. forces in Afghanistan; and that the rate of change in run-rates on professional services contracts will slow.
- We anticipate a seasonal decrease of quarterly revenue between the fourth quarter of FY14 and the first quarter of our FY15 similar to prior years.
- We expect that our direct labor costs will be between 4 and 7 percent greater than what we expect in FY14. Other directs costs will be 4 to 7 percent less than what we expect in FY14.
- We anticipate that our indirect costs and selling expenses will be 2 to 4 percent higher than FY14.
- Depreciation and amortization is expected to be approximately $67 million.
- Our operating margin is expected to be about even with FY14.
- Net interest expense is expected to be approximately $41 million.
- We expect capital expenditures will total approximately $15 to $20 million.
FY14 Guidance Reiterated
We are reiterating the FY14 guidance we issued on April 30, 2014. The table below summarizes our FY14 guidance and represents our views as of June 25, 2014:
(In millions except for tax rate and earnings per share)
|Revenue||$3,500 - $3,600|
|Net income attributable to CACI||$130 - $140|
|Effective corporate tax rate||38%|
|Diluted earnings per share||$5.12 - $5.51|
|Diluted weighted average shares||25.4|
Conference Call Information
We have scheduled a conference call for 8:30 AM Eastern Time Thursday, June 26, 2014, 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 1-877-303-9143, confirmation code 48864475. 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. 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 SmallCap 600 Index. CACI provides dynamic careers for over 15,300 employees in 120 offices worldwide. 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: the successful integration of our acquisition of Six3 Systems, actual revenue and earnings realized by Six3 Systems, and the performance of the Six3 Systems business; regional and national economic conditions in the United States and globally (including the impact of uncertainty regarding U.S. debt limits and actions taken related thereto); 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 and the Bipartisan Budget Act of 2013; 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.
Apr. 27, 2017 12:45 PM EDT Reads: 1,261
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
Apr. 27, 2017 12:45 PM EDT Reads: 2,691
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Apr. 27, 2017 12:30 PM EDT Reads: 1,198
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
Apr. 27, 2017 12:30 PM EDT Reads: 1,008
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTred processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Apr. 27, 2017 12:30 PM EDT Reads: 2,846
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Apr. 27, 2017 12:15 PM EDT Reads: 1,205
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Apr. 27, 2017 12:15 PM EDT Reads: 3,129
Did you know that you can develop for mainframes in Java? Or that the testing and deployment can be automated across mobile to mainframe? In his session at @DevOpsSummit at 20th Cloud Expo, Vaughn Marshall, Sr. Principal Product Owner at CA Technologies, will discuss and demo how increasingly teams are developing with agile methodologies using modern development environments and automating testing and deployments, mobile to mainframe.
Apr. 27, 2017 12:00 PM EDT Reads: 1,336
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Apr. 27, 2017 12:00 PM EDT Reads: 1,305
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Apr. 27, 2017 10:45 AM EDT Reads: 1,256
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Apr. 27, 2017 10:45 AM EDT Reads: 2,199
Apr. 27, 2017 10:15 AM EDT Reads: 2,416
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across supply chain networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost and time for product recall as well as advance trade. Are you curious about Blockchain and how it can provide you with new opportunities for innovation and growth? In her session at 20th Cloud Exp...
Apr. 27, 2017 10:15 AM EDT Reads: 1,968
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing be...
Apr. 27, 2017 10:00 AM EDT Reads: 647
Back in February of 2017, Andrew Clay Schafer of Pivotal tweeted the following: “seriously tho, the whole software industry is stuck on deployment when we desperately need architecture and telemetry.” Intrigue in a 140 characters. For me, I hear Andrew saying, “we’re jumping to step 5 before we’ve successfully completed steps 1-4.”
Apr. 27, 2017 09:45 AM EDT Reads: 1,828