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CACI’s Second Quarter Income, Sales Fall As Defense Spending Tightens

Cal Biesecker By
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CACI’s Second Quarter Income, Sales Fall As Defense Spending Tightens
CACI President and CEO Ken Asbury

A challenging federal spending environment combined with the government shutdown last October drove income and sales down at CACI International [CACI] in the second quarter and the services contractor lowered its per share earnings guidance for FY ’14. Net income slipped 12 percent to $35 million, $1.38 earnings per share (EPS), from 39.7 million ($1.69 EPS), with $9.7 million in one-time acquisition expenses for the Six3 Systems deal and $2.6 million in higher interest expense associated with the acquisition. Six3…

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