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CACI International Inc. Class A (CACI-4.26%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in revenues to $2,099,809,000 from $1,833,934,000 in the same quarter the previous year. The increase is attributed to new contract awards and growth on existing programs, as well as two acquisitions completed during the fiscal year.
Direct costs for the quarter were $1,402,225,000, representing 66.8% of revenues, compared to 68.4% in the same quarter of the previous year. Indirect costs and selling expenses were $466,661,000, accounting for 22.2% of revenues.
The company reported income from operations of $181,298,000 for the quarter, compared to $133,305,000 in the previous year. Net income was $109,938,000, up from $83,870,000 in the previous year.
CACI's backlog increased to $31.8 billion as of December 31, 2024, from $26.9 billion a year ago, with funded backlog at $4.1 billion.
The company completed two acquisitions during the fiscal year: Applied Insight and Azure Summit Technology, with purchase considerations of approximately $314.2 million and $1,310.2 million, respectively.
Interest expense and other, net, increased to $44,066,000 for the quarter, up from $27,519,000 in the previous year, primarily due to higher outstanding debt balances related to acquisitions.
Net cash provided by operating activities was $160,703,000, while net cash used in investing activities was $1,588,378,000, mainly due to cash used in acquisitions.
CACI's total liabilities and shareholders' equity stood at $8,548,499,000 as of December 31, 2024, with total assets of the same amount.
The company is involved in ongoing legal proceedings, including a $42 million judgment in a civil suit, which CACI is appealing.
CACI's effective income tax rate was 19.9% for the quarter, influenced by research and development tax credits and stock-based compensation.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the CACI International Inc. Class A quarterly 10-Q report dated January 28, 2025. To report an error, please email earnings@qz.com.