CACI Raises Fiscal Year 2019 Guidance
16 August 2018 - 9:15PM
Business Wire
Acquires the Systems Engineering and
Acquisition Support Services Business Unit Supporting the U.S. Navy
From General Dynamics
Brings Decades of Premier Ship Systems
Expertise
CACI International Inc (NYSE: CACI) announced today that it has
completed its acquisition of the Systems Engineering and
Acquisition Support Services Business Unit (SE&A BU) of CSRA
LLC, a managed affiliate of General Dynamics Information
Technology, Inc. This is a highly specialized provider of
comprehensive engineering services to the U.S. Navy. The
acquisition unites two businesses with long-term customer
relationships, complementary capabilities, and premier technical
credentials, expanding CACI’s legacy work for the U.S. Navy. We are
raising the FY19 guidance we issued on August 15, 2018 as a result
of the acquisition.
With a purchase price of $84 million, the transaction is
expected to add approximately $150 million to CACI’s Fiscal Year
2019 (FY19) revenue, with EBITDA margins in line with CACI’s
existing business. And it is expected to be GAAP accretive to
CACI’s FY19 earnings per share.
Through this acquisition, CACI gains a multi-decade legacy of
support for the lifecycles of virtually every major U.S. naval
shipbuilding platform. This includes program support, integrated
lifecycle planning and support, systems engineering and
integration, system design and development support, and test and
evaluation services. The acquisition brings a strong pipeline of
business with customers that include the Naval Sea Systems Command
and other Navy commands and offices, and grows CACI’s business in
its Surveillance and Reconnaissance and Logistics and Material
Readiness markets. Their workforce includes approximately 960
highly credentialed professionals, more than 89 percent of whom
possess security clearances.
Dr. J.P. (Jack) London, CACI Executive Chairman and Chairman of
the Board, said, “This acquisition reinforces our commitment to
sustain and enhance CACI’s decades of quality service to the U.S.
Navy. Their dedicated and highly skilled professionals are a solid
fit with our culture of ethics, integrity, innovation, and
ingenuity. CACI’s mergers and acquisitions strategy continues to
deliver long-term value to our customers and shareholders.”
Said Ken Asbury, CACI President and Chief Executive Officer,
“The acquisition of the Systems Engineering and Acquisition Support
Services Business Unit will support CACI’s growth and amplify our
position as a leading solutions and services provider to the U.S.
Navy. This team brings us an exceptional track record of winning
major Navy programs of record, unrivaled subject matter expertise,
and deep customer relationships, which gives us a significant
competitive edge in pursuing large-scale, enduring opportunities
across the Navy. We welcome these highly skilled and talented
employees to CACI.”
CACI Raises Its FY19 Guidance
The table below summarizes our FY19 guidance and represents our
views as of August 15, 2018.
(In millions except for tax rate and
earnings per share)
Current FiscalYear
2019Guidance
Previous FiscalYear
2019Guidance
Revenue $4,700 - $4,900 $4,550- $4,750
Net income $234 - $244 $230 - $240
Effective corporate tax rate 24.9%
24.9% Diluted earnings per share $9.14 - $9.53
$8.98 - $9.38 Diluted weighted average shares
25.6 25.6
CACI provides information solutions and services in support of
national security missions and government transformation for
Intelligence, Defense, and Federal Civilian customers. A Fortune
World’s Most Admired Company, CACI is a member of the Fortune 1000
Largest Companies, the Russell 2000 Index, and the S&P
SmallCap600 Index. CACI’s sustained commitment to ethics and
integrity defines its corporate culture and drives its success.
With approximately 19,800 employees worldwide, CACI provides
dynamic career opportunities for military veterans and industry
professionals to support the nation’s most critical missions. Join
us! 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 successful integration of the SE&A BU’s
operations and employees, actual revenue and earnings realized by
the SE&A BU and the performance of the SE&A BU, and the
risk factors set forth in CACI’s Annual Report on Form 10-K for the
fiscal year ended June 30, 2017, and other such filings that CACI
makes with the Securities and Exchange Commission from time to
time. Any forward-looking statements should not be unduly relied
upon and only speak as of the date hereof.
CACI-Company News
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180816005137/en/
CACI International IncCorporate Communications and Media:Jody
Brown, Executive Vice President, Public
Relations703-841-7801jbrown@caci.comorInvestor Relations:David
Dragics, Senior Vice President, Investor
Relations866-606-3471ddragics@caci.com
CACI (NYSE:CACI)
Historical Stock Chart
From Apr 2024 to May 2024
CACI (NYSE:CACI)
Historical Stock Chart
From May 2023 to May 2024