Reuters: Technology News: CACI International sees FY13 profit above estimates

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CACI International sees FY13 profit above estimates Jun 7th 2012, 23:12 Thu Jun 7, 2012 7:12pm EDT (Reuters) - Information technology provider CACI International Inc (CACI.N) forecast 2013 earnings ahead of market estimates and said Daniel Allen, who heads the company's U.S. operations, will take over as chief executive next month. CACI International, whose main client is the U.S. government, said it expects to earn between $6.60 and $6.90 per share for 2013 on revenue of $3.8 billion to $4.0 billion. Analysts on average had been expecting earnings of $5.69 per share, excluding items, on revenue of $3.9 billion, according to Thomson Reuters I/B/E/S. "We are confident that direct labor growth ... will continue for the balance of this fiscal year and into FY13," said CEO Paul Cofoni, who will retire as of December 1. Cofoni, who joined CACI International as president of U.S. operations in 2005, will be the chief advisor to Executive Chairman J. P. London, effective July 1. The company also said it is going to buy back 4 million shares of its common stock. CACI International shares were up 3 percent at $46.50 in extended trade. They closed at $45.00 on the New York Stock Exchange on Wednesday. (Reporting by Sagarika Jaisinghani in Bangalore; Editing by Joyjeet Das) Link this Share this Digg this Email Reprints

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