CACI International Inc., an Arlington government contractor, said recent acquisitions of companies doing business with the Defense Department and intelligence agencies helped boost its second-quarter profit.
The company earned $20.5 million (67 cents a share) in the three months ended Dec. 31, up 44 percent from the profit of $14.3 million (48 cents) it recorded in the same period the previous year. CACI's revenue rose 48 percent, to $389.7 million from $263.4 million.
CACI provides a range of services for government clients, including the integration of technology systems, development of advanced communication networks and analysis of human intelligence.
In 2004, CACI acquired four companies, including the defense and intelligence group of Fairfax-based American Management Systems Inc. for $415 million in May. That purchase helped CACI strengthen its foothold with defense-related agencies, said chief executive J.P. "Jack" London. The company will continue buying companies in the year ahead, he added.
"We are right now emphasizing what we have perceived as national priorities -- there is a concern on national security, there is a concern on intelligence," London said. "The companies in those sectors are those that I'd be most interested in."
Contracts with defense and intelligence agencies brought in 73 percent, or $284.6 million, of the company's second-quarter revenue, up from 65 percent, or $172 million, in the year-earlier quarter. Revenue for work for federal civilian agencies also grew, though at a much slower rate, to $81.9 million from $75.1 million.
CACI said that for fiscal 2005, it expects to earn $81.8 million to $84 million on revenue of $1.58 billion to $1.6 billion. In the previous fiscal year, the company earned $63.7 million and posted $1.1 billion in revenue. Shares of CACI rose $1.10, or 1.9 percent, to close at $60.40 yesterday.