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CACI ANNOUNCES FIRST QUARTER FY1994 RESULTS; 30 PERCENT EARNINGS GROWTH, 10 PERCENT REVENUE GROWTH AND RECORD BACKLOG

 ARLINGTON, Va., Oct. 26 /PRNewswire/ -- CACI International Inc (NASDAQ: CACI) today announced that its income and earnings per share before extraordinary items increased by 30 percent in its first quarter ended Sept. 30, 1993, over last year's first quarter. Income before extraordinary items grew to $1,358,000 for the quarter, from last year's $1,046,000. Earnings per share before extraordinary items rose to 13 cents over 10 cents last year. Revenue was up 10 percent during the quarter, at $38.2 million over $34.9 million last year. Quarter end contract backlog was $610 million, up 74 percent from last year's first quarter ending backlog of $351 million. Income and EPS represent a 10-year high in quarterly results for the company.
 Chairman/CEO Jack London said, "This substantial increase in earnings and record backlog is proof that our New Era repositioning strategy has been successful. Three years ago we set out to position CACI as a growth-oriented information technology company. Today we are optimistic that the improved results in this quarter are the beginning for a solid growth trend line. We are on the right track, and we expect that our growth will be further enhanced when we consummate our planned acquisition of SofTech, Inc.'s government services business. With SofTech we expect to add approximately $25 million in annualized revenues and $750,000 in net income and the operational fit is excellent for the future."
 The company also announced an extraordinary net after tax charge of $300,000, or 3 cents per share, to accrue for the cost of settling outstanding shareholder lawsuits, stemming from early 1991. As previously announced, the settlement agreement was reached on Sept. 2, 1993. The settlement did not acknowledge any wrong-doing on the part of the company's board of directors and was made by the board to cap legal expenditures and to free management's time to focus on the company's significant growth opportunities.
 CACI is an international information technology products and services corporation. The company specializes in developing, integrating and delivering systems, software, and simulation products in support of government agencies and commercial enterprises worldwide.
 CACI INTERNATIONAL INC AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (unaudited)
 Quarter ended Sept. 30, 1993 1992
 Revenue $38,200,000 $34,885,000
 Costs and expenses
 Direct costs 19,685,000 17,875,000
 Indirect costs and selling
 expenses 15,311,000 14,512,000
 Depreciation and amortization 888,000 713,000
 Operating expenses 35,884,000 33,100,000
 Operating income 2,316,000 1,785,000
 Interest expense 91,000 71,000
 Income before income taxes and
 extraordinary item 2,225,000 1,714,000
 Income taxes 867,000 668,000
 Income before extraordinary item 1,358,000 1,046,000
 Extraordinary item-cost of
 shareholder lawsuit settlement,
 net of income tax benefit (300,000) ---
 Net income 1,058,000 1,046,000
 Earnings per common and common
 equivalent shares:
 Income before extraordinary item .13 .10
 Extraordinary item (.03) ---
 Net income .10 .10
 Average number of shares and
 equivalent shares outstanding 10,384,000 10,405,000
 Consolidated Balance Sheet Information
 As of
 Sept. 30, 1993 June 30, 1993
 Current assets $45,897,000 $46,959,000
 Current liabilities 22,599,000 25,022,000
 Working capital 23,298,000 21,937,000
 Current ratio (X:1) 2.03 1.88
 Return on equity 13.60 pct 10.03 pct
 Stockholders' equity 31,711,000 30,497,000
 Net book value $3.17 $3.05
 Shares outstanding 10,018,000 10,012,000
 -0- 10/26/93
 /CONTACT: Samuel R. Strickland of CACI, 703-841-7800, or Douglas Poretz of Douglas Poretz, Ltd., 703-506-1778/
 (CACI)


CO: CACI International Inc ST: Virginia IN: CPR SU: ERN

MP-LG -- NY016 -- 6772 10/26/93 09:33 EDT
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Publication:PR Newswire
Date:Oct 26, 1993
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