CACI International Inc. announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2017. For the quarter, the company reported revenue of $1,087,860,000 against $1,057,530,000 a year ago. Operating income was $88,262,000 against $80,255,000 a year ago. Income before income taxes was $77,306,000 against $67,930,000 a year ago. Net income was $142,795,000 against $42,420,000 a year ago. Diluted earnings per share were $5.66 against $1.69 a year ago. Adjusted EBITDA was $105,389,000 against $98,793,000 a year ago. Adjusted net income was $159,084,000 or $6.31 per diluted share against $57,777,000 or $2.30 per diluted share a year ago. The higher operating income was due primarily to improved program execution. The increase in net income was due to the impact of the passage of Tax Reform legislation. Cash provided by operations in the quarter was $76.1 million.

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.