CACI International has reported a 2.6% increase in revenues to $6.2bn during its full year fiscal that ended 30 June 2022.
The figure was $6.04bn in the same period a year ago.
The performance was driven by organic growth and acquisitions completed in the year.
The company’s operating income dropped from $539.5m to $496.3m this year.
According to CACI, higher indirect costs and selling expenses from acquisitions and organic investments led to a decrease in operating income.
In the full year, the company’s net income was $366.8m, a 19.8% dip from the previous year’s $457.4m.
Annual adjusted net income stood at $421.7m and adjusted diluted earnings per share was $17.81, compared to $507.2m and $20.29, respectively, reported in 2021.
The company reported $695.2m in free cash flow, compared to $537.1m in the previous year. This was driven by higher cash from operations.
In the fourth quarter of fiscal year 2022, the company’s revenues increased 5% year-on-year.
CACI president and chief executive officer John Mengucci said: “We delivered growth, healthy margins, and robust cash flow in fiscal year 2022.
“We also delivered another year of strong contract awards and our backlog and pipeline remain robust. With a backdrop of growing budgets and increasing national security demands, we expect continued growth, margin expansion, and healthy cash flow generation in fiscal year 2023 and beyond.
“Our differentiated capabilities and strong financial position give us confidence in our ability to deliver value for our customers and our shareholders.”
For fiscal year 2023, CACI expects to achieve continued growth and margin expansion, as well as healthy cash flow.