Caci International, Inc. · NYSE:CACI
Caci International — Q4 FY2015 Earnings Presentation
17 slides from Caci International's earnings presentation, Aug 13, 2015
Slide 1: CACI International Inc Fourth Quarter Fiscal Year 2015 Conference Call
CACI International Inc Fourth Quarter Fiscal Year 2015 Conference Call August 13, 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: Concluding a Successful Fiscal Year
Concluding a Successful Fiscal Year Fourth quarter FY15 results as expected In FY15: • Won a record level of contract awards • Increased operating cash flow • Built backlog to record level Built a strong foundation on which to reiterate FY16 guidance 4 | CACI 4th Quarter Fiscal Year 2015 Conference
Slide 5: Factors for Our Success in FY15
Factors for Our Success in FY15 Made strategic changes to how we pursue business: • Aligned organization more closely to our market areas Demonstrated our ability to win new business and retain our current business Results: • Captured larger market share • Built momentum for the return of organic re
Slide 6: Types of Work That are Driving Our Future Growth
Types of Work That are Driving Our Future Growth Improving cyber resilience and keeping data secure from near-constant threats from internal and external sources Combining traditional cyber security expertise with unique signals intelligence capabilities to defend new and legacy platforms Fielding F
Slide 7: Going Forward
Going Forward Continue to capture market share Expect to: • Win new business • Deliver operational excellence • Deploy capital for long term growth • Deliver long-term shareholder value 7 | CACI 4th Quarter Fiscal Year 2015 Conference Call | August 13, 2015
Slide 8: Fourth Quarter and Full Year Net Income
Fourth Quarter and Full Year Net Income Higher award fees Impacted by ramp-up and increased investments for Increases in existing work the OPM contract in the New business won in FY15 second quarter of FY15 Lower D&A expense Lower effective tax rate 8 | CACI 4th Quarter Fiscal Year 2015 Conference C
Slide 9: Strong Cash Flow
Strong Cash Flow Generated $223 million in operating cash flow for the year; $33 million in the fourth quarter Days sales outstanding – 60 days versus 61 days in Q3 $400 TTM Free Cash Flow Per $12.00 Share (right scale) $ millions (except per share data) $350 $10.00 $8.00 $300 TTM Free Cash Flow $6.
Slide 10: Fourth Quarter Results
Fourth Quarter Results Continuing decline in Higher fringe expense from ODCs growth in direct labor Partially offset by Adjusting for fringe continued growth in direct expenses, indirect costs and labor selling expenses ~3% lower for quarter and fiscal year 10 | CACI 4th Quarter Fiscal Year 2015 Con
Slide 11: 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 12: CACI Well Positioned
CACI Well Positioned Made critical investments in our business development organization • Refined our shot selection and processes • Pursuing larger, more solutions-oriented business • Aligned organization to provide single investment points in delivery and capability; competitive cost structure in
Slide 13: Confidence in our FY16 Plan
Confidence in our FY16 Plan FY16 Planned Revenue as of: Q4, FY15 79% EXISTING BUSINESS 15% 6% RECOMPETES NEW BUSINESS 53% currently funded, comparable to this time last year Initial Guidance 78% 15% 7% EXISTING BUSINESS RECOMPETES NEW BUSINESS 13 | CACI 4th Quarter Fiscal Year 2015 Conference Call |
Slide 14: Solid Leading Indicators
Solid Leading Indicators $12 billion in pending contract awards, 50% for new business $13.7 billion in bids to be submitted over next six months, 60% for new business Reflects our business development focus across all market areas 14 | CACI 4th Quarter Fiscal Year 2015 Conference Call | August 13, 2
Slide 15: CEO Closing Comments
CEO Closing Comments Have made fundamental strategic and operational changes to our business Improved our competitiveness Positioned CACI to return to organic revenue and earnings growth in FY16 Credit to the hard work, innovation, and good character of CACI’s professionals 15 | CACI 4th Quarter Fis
Slide 16: 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 17: Key Guidance Assumptions
Key Guidance Assumptions Direct labor costs to be between 10% and 12% higher versus FY15 ODCs -8% to -10% less than FY15 with greater declines in the first half of FY16 Indirect costs and selling expenses 4% to 5% higher than FY15 (flat excluding higher direct labor fringe) Depreciation and amortiza