Ken Asbury, president and CEO of CACI International (NYSE: CACI) and a five-time Wash100 winner, has said the company’s first priority is to continue organic growth efforts.
“M&A remains our priority for capital deployment and we are pursuing quality companies and contracts that add new customers and fill capability gaps across our addressable market,” Asbury told analysts Thursday at a conference call on fiscal year 2019 first-quarter earnings.
He noted the Arlington, Va.-based company works to align products and services with the U.S. government’s national security priorities and invests in new technology platforms that can differentiate the information technology services provider’s offerings in contract bids.
CACI reported Wednesday it saw net income climb 87.5 percent to $78.8M for the first quarter ended Sept. 30, compared with $42M in the same period a year ago.
Revenue increased 7.4 percent to $1.17B, which the company attributed to “new business wins, on-contract growth and acquired contracts.”
First quarter contract awards amounted to $2.54B, up 111 percent over the previous-year figure, and nearly 60 percent of the awards represented new work for the company.
