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Business/Financial

Earnings, Sales Slip At CACI In Fourth Quarter

By Cal Biesecker

Thursday, August 21st, 2014

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Earnings, Sales Slip At CACI In Fourth Quarter

CACI President and CEO Ken Asbury

CACI International [CACI] on Wednesday posted lower net income in its fourth quarter due to higher interest expense while sales slipped on fewer purchases related to the war in Afghanistan, lower run rates on professional services contracts, and delays in contract awards. Net income fell nearly 4 percent to $36.5 million, $1.49 earnings per share (EPS), from $37.9 million ($1.56 EPS) a year ago, still topping consensus estimates by six cents. Operating income was actually up 2 percent on higher…

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