CACI International Inc. reported a strong fourth quarter for fiscal year 2020, with revenue increasing by 8.9% and net income increasing by 87.3%. The company also saw double-digit growth in contract awards and backlog.
Revenue increased 9% year-over-year as reported and 8% organically.
Operating income increased due to higher revenue.
Net income increased due to higher operating income and lower interest expense.
Contract awards totaled $3.4 billion.
CACI provided FY21 guidance, including the acquisition of Ascent Vision Technologies, LLC (AVT) and assuming continued impact from COVID-19 through December 31, 2020 and that support currently provided under Section 3610 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is extended through that period.
Visualization of income flow from segment revenue to net income