CACI International Inc. (NYS:CACI) said Thursday it is raising guidance for fiscal 2019 after completing the acquisition of the systems engineering and acquisition support services business of CSRA LLC, a unit of General Dynamics Information Technology Inc. The business is a specialized provider of comprehensive engineering services to the U.S. Navy. CACI offers IT and services to support government departments including intelligence, defense and federal civilian clients. The company is expecting the deal to add about $150 million to fiscal 2019 revenue and is expected to boost per-share earnings on a GAAP basis. CACI is now expecting fiscal 2019 revenue of $4.700 billion to $4.900 billion, up from earlier guidance of $4.550 billion to $4.750 billion, and EPS of $9.14 to $9.53, up from earlier guidance of $8.98 to $9.38. Shares were not yet active premarket, but have gained 36.3% in 2018, while the S&P 500 (S&P:SPX) has gained 5.4%.
Aug. 16, 2018, 7:23 a.m. EDT