CACI Quarterly Results Exceed Estimates
CACI (Arlington, VA; Nasdaq: CACI) reports Q2 '98 financial results, which exceed Wall Street estimates. Revenue of $79.1 million represents a 15% increase from Q2 '97. A net income of $2.9 million compares with Q2 '97 net income of $2.8 million. For the first six months, revenue increased 14% over the first six months of 1997, while net income dipped from $5.5 million to $5.3 million. Government Systems, a telecommunications networking business acquired in November 1997, contributed $4.8 million in revenue. Robust commercial sales also contributed to the rise in earnings, according to chairman and CEO J. P. London. "All of our business units reported growth in the quarter," he said. "The fundamentals of our government and commercial marketplaces remain strong and our backlog stands at $1.1 billion." The company is currently addressing "significant new business opportunities" to offer complete solutions to its customers, London added.