Lingering effects of the credit crisis and the broader economic downturn have created a new urgency for chief executives in the defense and government services industry to explore divestitures.
SRA International Inc. reported $411.0 million in revenue for the third quarter of fiscal 2010, a 9.0 percent increase over the $376.9 million in revenue for the March 2009 quarter.
ManTech International Corp. saw first-quarter 2010 revenues climb to $587.6 million, a 31 percent gain from the $449.6 million in the first quarter of fiscal 2009, according to a company statement.
CACI International Inc. reported record net income of $26.7 million for fiscal third quarter of 2010, a 21.6 percent increase over the $22.0 million for the same period last year.
Federal IT services firms are optimistic about business later in the year as contract award activity improves in areas such as cybersecurity, health IT and C4ISR.
General Dynamics Corp. today reported overall first-quarter 2010 revenues of $7.75 billion, down from $8.26 million in first quarter 2009, or a 6.2 percent decline.
Spurred by a $27.5 million Defense Department contract and a Nuclear Regulatory Commission award worth $24 million, ATS Corp. revenue from civilian and defense contracts increased $1.3 million to $24.0 million, or 5.3 percent, for the first quarter ended March 31, 2010.
Science Applications International Corp. ended its fourth quarter with a 7 percent increase in quarterly revenue and 8 percent for fiscal 2010, which ended Jan. 31.
Although financial buyers can be outstanding choices for sellers of government contracting businesses, they present unique challenges when compared to the strategic buyer alternative, says John Hagan, co-head of the defense and government services group at BB&T Capital Markets/Windsor Group.
