ManTech announced fiscal figures for the fourth quarter and year of 2009.
Revenue was at $542.1 million (up 10%) for Q4, $2.02 billion (up 8%) for fiscal year with an operating margin: 8.7% (up 30 bps) for Q4, 8.9% (up 70 bps) for fiscal year. Net Income was $29.5 million (up 20%) for Q4, $111.8 million (up 24%) for fiscal year, with diluted EPS at $0.82 (up 19%) for fourth quarter, $3.11 (up 22%) for fiscal year. FY10 guidance is listed as double-digit growth in organic revenue, net income, and EPS.
“We are starting to see the fruits of our strategy to build on our great foundation of cash generation and redirect resources to top-line growth initiatives, ” said Lawrence B. Prior, III, ManTech president and COO. “We have added more than 800 employees since the last earnings call, and we are demonstrating on a daily basis that we can take away market share. The recent Quadrennial Defense Review and FY11 Presidential Budget submission make it clear that we are absolutely in the growth markets in the federal government.”
“We feel confident forecasting robust growth for fiscal year 2010, ” Kevin M. Phillips, ManTech CFO. “Because of the increased levels and variability of material purchases in our revenue as we provide direct support to our customers in theater, we have moved to a policy of providing annual guidance with quarterly updates as appropriate. Still, we are totally committed to providing potential investors with sufficient information to make informed decisions based on our business prospects.”
