CACI International Inc Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2017; Revises Earnings Guidance for the Fiscal Year 2018; Provides Effective Tax Rate Guidance Beyond Fiscal Year 2018
For the six months, the company reported revenue of $2,173,674,000 against $2,130,810,000 a year ago. Operating income was $155,566,000 against $149,913,000 a year ago. Income before income taxes was $133,363,000 against $125,099,000 a year ago. Net income was $184,841,000 against $79,083,000 a year ago. Diluted earnings per share were $7.33 against $3.16 a year ago. Adjusted EBITDA was $189,399,000 against $187,032,000 a year ago. Adjusted net income was $217,350,000 or $8.62 per diluted share against $109,299,000 or $4.37 per diluted share a year ago. Net cash provided by operating activities was $155,761,000 against $135,350,000 a year ago. Capital expenditures were $22,013,000 against $21,826,000 a year ago.
The company revised earnings guidance for the full year of fiscal 2017. For the period, the company expects revenue in the range of $4,350 million to $4,500 million against previously reported guidance of $4,350 million to $4,500 million. Net income expected to be in the range of $277 million to $283 million against previously reported guidance of $171 million to $179 million. Effective corporate tax rate is expected to be negative of 3.4% against previously reported guidance of 34.5%. Diluted earnings per share are expected to be $10.95 to $11.19 against previously reported guidance of $6.76 to $7.08. Fiscal Year 2018 guidance excluding tax reform, revenue to be in the range of $4,350 million to $4,500 million, net income to be $177 million to $183 million, effective corporate tax rate to be 33.4%, and diluted earnings per share to be $7.00 to $7.23. Operating cash flow guidance is expected to be at least $300 million, reflecting strong cash generation and the impact of tax reform.
The company expect effective tax rate beyond fiscal year 2018 to be in the 24% range.