Caci International, Inc. · NYSE:CACI
Caci International — Q1 FY2016 Earnings Presentation
16 slides from Caci International's earnings presentation, Oct 29, 2015
Slide 1: CACI International Inc First Quarter Fiscal Year 2016 Conference Call
CACI International Inc First Quarter Fiscal Year 2016 Conference Call October 29, 2015 INFORMATION DEPLOYED. SOLUTIONS ADVANCED. MISSIONS ACCOMPLISHED.
Slide 2: Forward-looking Statements
Forward-looking Statements There are statements made herein which do not address historical facts and, therefore, could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to factors that could c
Slide 3: Our Participants Today
Our Participants Today Ken Asbury President and Chief Executive Officer Tom Mutryn Chief Financial Officer John Mengucci Chief Operating Officer and President, U.S. Operations Greg Bradford Chief Executive Officer, CACI Limited in the UK INFORMATION DEPLOYED. SOLUTIONS ADVANCED. MISSIONS ACCOMPLISHE
Slide 4: First Quarter Performance
First Quarter Performance On track to achieve goal of organic revenue and net income growth in FY16 Reiterating our full year FY16 guidance Won over $1.9 billion in contract awards Cash flow was strong Backlog at a record level Positive revenue growth Net income higher than expected due to timing an
Slide 5: Current Market Environment
Current Market Environment Normal award activity in the first quarter Government operating under a CR Bipartisan budget agreement • Positive development • Increased stability for our industry Change in the pace of drawdown from Afghanistan 5 | CACI 1st Quarter Fiscal Year 2016 Conference Call | Octo
Slide 6: New Opportunity Resulting from the Six3 Acquisition
New Opportunity Resulting from the Six3 Acquisition Cooperative research and development agreement to test a system CACI developed Detects, identifies, and tracks unmanned aircraft systems (UAS)—or drones Responds to the escalating challenges from inadvertent or intentional misuse of UAS around airp
Slide 7: First Quarter Net Income and Revenue
First Quarter Net Income and Revenue Strong performance on Direct labor increase of programs 4.8% Lower D&A expense Offset by ODCs decreasing 4.1% Variance from plan a result of timing due to award fees, performance, and product sales 7 | CACI 1st Quarter Fiscal Year 2016 Conference Call | October 2
Slide 8: Continued Strong Cash Flow
Continued Strong Cash Flow Days sales outstanding – 58 days versus 60 days in Q4’15 Generated $78 million in operating cash flow for the quarter; TTM free cash flow of $171 million Debt of $994 million; net debt/TTM EBITDA of 3.16 times TTM Free Cash Flow Per $400 Share (right scale) $12.00 $ millio
Slide 9: FY16 Guidance
FY16 Guidance FY16 Guidance Revenue (millions) $3,300 – $3,500 Net income (millions) $130 – $140 Diluted EPS $5.24 – $5.65 Diluted shares (millions) 24.8 FY16 revenue expected to be 0% to +6% versus FY15 FY16 net income expected to be 3% to 11% above FY15 FY16 diluted EPS expected to be 1% to 9% abo
Slide 10: Off to a Good Start to FY16
Off to a Good Start to FY16 Strong performance driven by timing: • Firm fixed price deliverables • Product deliveries • Award fees Continued to win new and recompete business Examples of wins: • Support of advanced communications systems for Special Operations Forces • Fuse and analyze clinical data
Slide 11: UAS Research and Development Agreement
UAS Research and Development Agreement System detects, identifies, and tracks drones Capable of identifying ground-based operators Helps protect national airspace from inadvertent or unlawful misuse of drones within 5-mile radius of airports System will help ensure safe, shared airspace while suppor
Slide 12: Confidence in our FY16 Plan
Confidence in our FY16 Plan FY16 Planned Revenue as of: Q1, FY16 90% EXISTING BUSINESS 8% 2% RECOMPETES NEW BUSINESS 74% currently funded, comparable to this time last year Initial Guidance 78% 15% 7% EXISTING BUSINESS RECOMPETES NEW BUSINESS 12 | CACI 1st Quarter Fiscal Year 2016 Conference Call |
Slide 13: Solid Leading Indicators
Solid Leading Indicators $12 billion in pending contract awards, 40% for new business $11 billion in bids to be submitted over next six months, 75% for new business Reflects focus on critical missions in each of our market areas 13 | CACI 1st Quarter Fiscal Year 2016 Conference Call | October 29, 20
Slide 14: CEO Closing Comments
CEO Closing Comments Off to a strong start On track to achieve organic revenue and net income growth this fiscal year Will continue to support critical missions and respond to evolving requirements Focused on our long term strategy 14 | CACI 4th Quarter Fiscal Year 2015 Conference Call | August 13,
Slide 15: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures Trailing twelve month (TTM) free cash flow is TTM cash flow from operations less TTM capital expenditures. TTM free cash flow per share is TTM free cash flow divided by TTM diluted share count. EBITDA is GAAP net income plus net interest expense, income taxes, and de
Slide 16: Key Guidance Assumptions
Key Guidance Assumptions Direct labor costs now estimated to be between 5% and 8% higher versus FY15 ODCs now estimated to be -4% to -6% less than FY15 Indirect costs and selling expenses now estimated to be 3% to 4% higher than FY15 Depreciation and amortization of ~ $58 million Operating margin ex