:

Business/Financial

Lower Taxes Fuel Strong Earnings At CACI In Fourth Quarter

By Cal Biesecker

Thursday, August 12th, 2021

SHARE:

Lower Taxes Fuel Strong Earnings At CACI In Fourth Quarter

CACI President and CEO John Mengucci. Photo: CACI

CACI International [CACI] on Wednesday reported strong fourth quarter financial results driven by reduced taxes, which boosted earnings, and higher sales. Net income in the quarter increased 46 percent to $137 million, $5.74 earnings per share (EPS), versus $93.7 million ($3.68 EPS) a year ago, topping consensus estimates by 12 cents per share. Per share results were aided by a lower share count due to CACI’s stock repurchase program. Operating income in the quarter declined due to higher expenses, a…

Army

Hegseth Says DoD Open To Reviewing Army’s Planned Cuts To Legacy Helicopter Procurement

Defense Secretary Pete Hegseth has told lawmakers the Pentagon is open to reviewing the Army’s planned procurement cuts to its legacy manned aviation fleet. Rep. Rosa DeLauro (D-Conn.), ranking member […]

Congress

Appropriators Press For Details On Iran War Costs; DoD’s $29B Estimate Doesn’t Include Base Damage

The Pentagon estimates the U.S.’ ongoing conflict with Iran has now cost at least $29 billion, while a lead official noted the updated figure does not factor in damage to […]

Congress

Appropriators Offer Skepticism On $350B Defense Reconciliation Plan, ‘Big Risk’ For Key Initiatives

Senate and House Appropriators told Pentagon leadership on Tuesday they’re skeptical of the department’s plan to fund $350 billion of the fiscal year 2027 defense budget through the reconciliation process, […]

Congress

All Future Systems Should Have Autonomy Features, Reed Says

Last week, Sen. Jack Reed (D-R.I.) visited North Kingstown, R.I.-based Senesco, which is teaming with autonomous systems company Havoc to bid on the U.S. Navy’s Medium Unmanned Surface Vessel program. […]