For all of FY08, we reported record revenue of
-- Record operating income of
-- Record contract funding orders totaling over
-- Record year-end funded backlog of
-- The acquisitions of Athena Innovative Solutions, Inc. and Dragon Development Corporation. The Athena acquisition makes us the largest government contractor supporting the national intelligence assets in Charlottesville, VA . The Dragon acquisition increases our presence and capabilities with the National Security Agency.
-- CACI's entire National Solutions Group being rated at Maturity Level 3 of the Software Engineering Institute's Capability Maturity Model(R) Integration (CMMI(R)). CMMI Level 3 is now mandatory on an increasing number of DoD integration, management and software contracts.
-- Recognition of CACI as a recipient of the "Best Overall Government Contractor Ethics Program" rating from the Ethisphere Institute, placing third among the 100 largest government contractors.
-- Recognition of CACI as the 2nd Most Admired IT Services Company, as well as the 2nd Most Admired Virginia Company in Fortune magazine's Most Admired Companies listing.
Commenting on the company's financial results, Paul Cofoni , CACI's President and CEO, said, "Our solid, fourth quarter growth of net income and record diluted earnings per share and record revenue resulted in the strong second half performance which we promised at the beginning of our FY08. We are very pleased with our double-digit growth of net income and EPS in the second half of FY08. We had another year of strong operating cash flow. Our acquisitions delivered bottom line results that exceeded our expectations and contributed to our earnings per share. They also significantly increased our presence with key customers in the Intelligence Community. We continue to evaluate acquisition opportunities that will be accretive to our bottom line and leverage our capabilities with both existing and new customers. Between acquisitions and organic growth, we added approximately 1,600 people, raising our total employee population to nearly 12,000 highly qualified individuals at fiscal year end. Over 4,200 of these people hold a Top Secret or higher clearance, an increase of 29 percent from a year ago. They significantly increase our capability to support the Intelligence Community and the Defense Department. All these solid performance results contribute to positive momentum for Fiscal Year 2009 and beyond, and give us great confidence in meeting our long-term financial goals of consistently achieving at least eight to ten percent organic revenue growth and growth of net income by at least 15 percent, while continuously pursuing opportunities to improve our profit margin."
Mr. Cofoni continued: "We believe our nation's highest priority is the long-term challenge of asymmetric global terrorism. Our goal is to place CACI at the center of our clients' efforts to meet this challenge, with valuable solutions and cleared, dedicated personnel to help our clients enhance U.S. and global security. Our focus is congruent with the new 2008 National Defense Strategy and the views of both presidential candidates. This convergence of thinking from both defense and political leaders validates our growth strategy.