{"id":526909,"date":"2021-08-11T16:19:01","date_gmt":"2021-08-11T20:19:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/caci-reports-results-for-its-fiscal-2021-fourth-quarter-and-full-year-and-issues-fiscal-year-2022-guidance\/"},"modified":"2021-08-11T16:19:01","modified_gmt":"2021-08-11T20:19:01","slug":"caci-reports-results-for-its-fiscal-2021-fourth-quarter-and-full-year-and-issues-fiscal-year-2022-guidance","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/caci-reports-results-for-its-fiscal-2021-fourth-quarter-and-full-year-and-issues-fiscal-year-2022-guidance\/","title":{"rendered":"CACI Reports Results for Its Fiscal 2021 Fourth Quarter and Full Year and Issues Fiscal Year 2022 Guidance"},"content":{"rendered":"

<\/p>\n

CACI Reports Results for Its Fiscal 2021 Fourth Quarter and Full Year and Issues Fiscal Year 2022 Guidance<\/b><\/p>\n

Annual revenue of $6.0 billion, +6%<\/i><\/b><\/p>\n

Annual net income of $457.4 million and Diluted EPS of $18.30<\/i><\/b><\/p>\n

Annual adjusted net income of $507.2 million and Adjusted diluted EPS of $20.29<\/i><\/b><\/p>\n

Annual cash from operations of $592.2 million, +14%;
\n
<\/i><\/b>Annual free cash flow of $537.1 million, +22%<\/i><\/b><\/p>\n

Annual contract awards of $9.2 billion<\/i><\/b><\/p>\n

Company expects continued organic growth, margin expansion, and strong cash flow in Fiscal Year 2022<\/i><\/b><\/p>\n

RESTON, Va.–(BUSINESS WIRE<\/a>)–
\nCACI International Inc (NYSE:CACI<\/a>), a leading provider of expertise and technology to government enterprise and mission customers, announced results today for its fiscal fourth quarter and full year ended June 30, 2021.\n<\/p>\n

CEO Commentary and Outlook<\/b><\/p>\n

\nJohn Mengucci, CACI\u2019s President and CEO, said, \u201cOur fourth quarter results capped another strong year for CACI. We again achieved our financial commitments, delivering organic revenue growth above our addressable market, margin expansion, and robust cash flow, as well as record backlog. Our financial performance supported a flexible and opportunistic capital deployment strategy, enabling us to both invest ahead of need and execute a value-creating accelerated share repurchase. In Fiscal Year 2022, we see continued growth above our addressable market, margin expansion, and strong cash flow generation, and remain committed to delivering value for our customers and our shareholders.\u201d\n<\/p>\n

\n

Fourth Quarter Results<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nThree Months Ended<\/b><\/td>\n\n<\/tr>\n
(in millions except earnings per share and DSO)<\/i><\/td>\n\n6\/30\/2021<\/span><\/b><\/td>\n\n6\/30\/2020<\/span><\/b><\/td>\n\n% Change<\/span><\/b><\/td>\n<\/tr>\n
Revenue<\/td>\n\n\n

\n$1,564.0\n<\/p>\n<\/td>\n

\n\n

\n$1,495.6\n<\/p>\n<\/td>\n

\n\n

\n4.6\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Operating income<\/td>\n\n\n

\n$112.1\n<\/p>\n<\/td>\n

\n\n

\n$133.7\n<\/p>\n<\/td>\n

\n\n

\n-16.2\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Net income<\/td>\n\n\n

\n$137.0\n<\/p>\n<\/td>\n

\n\n

\n$93.7\n<\/p>\n<\/td>\n

\n\n

\n46.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Adjusted net income, a non-GAAP measure1<\/sup><\/td>\n\n\n

\n$149.4\n<\/p>\n<\/td>\n

\n\n

\n$104.5\n<\/p>\n<\/td>\n

\n\n

\n43.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Diluted earnings per share<\/td>\n\n\n

\n$5.74\n<\/p>\n<\/td>\n

\n\n

\n$3.68\n<\/p>\n<\/td>\n

\n\n

\n56.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Adjusted diluted earnings per share, a non-GAAP measure1<\/sup><\/td>\n\n\n

\n$6.26\n<\/p>\n<\/td>\n

\n\n

\n$4.10\n<\/p>\n<\/td>\n

\n\n

\n52.7\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), a non-GAAP measure1<\/sup><\/td>\n\n\n

\n$144.9\n<\/p>\n<\/td>\n

\n\n

\n$162.9\n<\/p>\n<\/td>\n

\n\n

\n-11.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Net cash provided by operating activities excluding MARPA1<\/sup><\/td>\n\n\n

\n$99.5\n<\/p>\n<\/td>\n

\n\n

\n$154.4\n<\/p>\n<\/td>\n

\n\n

\n-35.5\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Free cash flow, a non-GAAP measure1<\/sup><\/td>\n\n\n

\n$77.7\n<\/p>\n<\/td>\n

\n\n

\n$136.4\n<\/p>\n<\/td>\n

\n\n

\n-43.1\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

Days sales outstanding (DSO)2<\/sup><\/td>\n\n\n

\n54\n<\/p>\n<\/td>\n

\n\n

\n57\n<\/p>\n<\/td>\n

\n<\/tr>\n<\/table>\n\n\n\n
\n

\n(1)\n<\/p>\n<\/td>\n

\n\n

\nThis non-GAAP measure should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP. For additional information regarding this non-GAAP measure, see the related explanation and reconciliation to the GAAP measure included below in this release.\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n(2)\n<\/p>\n<\/td>\n

\n\n

\nThe DSO calculations for fourth quarter FY21 and fourth quarter FY20 exclude the impact of the Company\u2019s MARPA, which was 7 days and 9 days, respectively.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nRevenue in Q4 FY21 increased 5% year-over-year as reported and 4% organically. The year-over-year decrease in operating income was driven by higher indirect expenses, the impact of tax elections taken under the CARES Act, and normal fluctuations in revenue mix. The year-over-year increases in net income and adjusted net income were due to a lower effective tax rate, partially offset by higher interest expense and the factors influencing operating income. Diluted earnings per share and adjusted diluted earnings per share increased faster than their respective net income metrics due to a lower share count as a result of the $500 million accelerated share repurchase announced in March 2021. The decrease in cash from operations, excluding MARPA, was driven by higher cash tax payments due to the aforementioned tax elections. The decrease in free cash flow was due to the same factors cited above, as well as higher capital expenditures.\n<\/p>\n

Fourth Quarter Awards<\/b><\/p>\n

\nContract awards in Q4 FY21 totaled $3.6 billion, with approximately 40% for new business to CACI. For the full year, contract awards totaled $9.2 billion, with over 40% for new business to CACI. These awards exclude ceiling values of multi-award, indefinite delivery, indefinite quantity (IDIQ) contracts. Some notable awards during the quarter were:\n<\/p>\n

\n