Caci International, Inc. · NYSE:CACI
Caci International — Q4 FY2016 Earnings Presentation
17 slides from Caci International's earnings presentation, Aug 18, 2016
Slide 1: CACI International Inc Fourth Quarter Fiscal Year 2016 Conference Call
CACI International Inc Fourth Quarter Fiscal Year 2016 Conference Call August 18, 2016 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: Fourth Quarter Highlights
Fourth Quarter Highlights Revenue, net income, and cash flow higher due to strong contract performance and the NSS acquisition Awards and contract funding significantly above last year Successfully integrated NSS, achieving milestones ahead of schedule • Met top line expectations; exceeded profit ex
Slide 5: Executing Our Market-based Strategy
Executing Our Market-based Strategy Won business across all our markets • Noteworthy wins in Enterprise IT, Business Systems, Intelligence Systems and Support, and Cyber Security Winning larger, enduring, more solution-centric business Goals beyond FY17: • Grow organic revenue 1% - 4% greater than o
Slide 6: Fourth Quarter Revenue and Net Income
Fourth Quarter Revenue and Net Income Revenue Net Income $1,200.0 $45.0 $1,113.9 $43.6 $1,100.0 $43.0 $41.4 $1,000.0 $41.0 $865.5 $900.0 $39.0 $800.0 $37.0 $700.0 $35.0 Q4'15 Q4'16 Q4'15 Q4'16 Strong performance from CACI net income includes: core CACI and NSS • $0.2 million of certain excess tax be
Slide 7: Adoption of New Accounting Rule Regarding Share-based Payments
Adoption of New Accounting Rule Regarding Share-based Payments Quarter ended (Amounts in thousands, except per share amounts) 9/30/2015 12/31/2015 3/31/2016 6/30/2016 Revenue $ 822,442 $ 830,437 $ 977,274 $ 1,113,900 Income from operations $ 64,508 $ 55,482 $ 63,676 $ 81,084 1 Income taxes $ 20,693
Slide 8: Continued Strong Cash Flow
Continued Strong Cash Flow Generated $53 million in operating cash flow for the quarter; $243 million for FY16 Days sales outstanding – 62 days versus 64 days in Q3’16 Net debt/TTM pro forma EBITDA of ~3.8 times TTM Operating Cash Flow as TTM a % ofFree Cash Flow $400 TTM Net Income (right scale) 25
Slide 9: Reiterating FY17 Guidance
Reiterating FY17 Guidance FY17 Guidance Revenue (millions) $4,050 – $4,250 Net income (millions) $150 – $160 Diluted EPS $6.02 – $6.43 Diluted shares (millions) 24.9 FY17 revenue expected to be 8% to 14% above FY16 revenue FY17 net income expected to be 5% to 12% above FY16 net income FY17 diluted E
Slide 10: Successful FY16
Successful FY16 NSS integration and performance Over $5.3 billion of contract awards, highlights include: $102 million single-award with the Securities and Exchange $199 million single-award with the U.S. Department of Agriculture $22.3 billion IDIQ with the Department of Veterans Affairs $809 milli
Slide 11: Quality and Efficient Delivery
Quality and Efficient Delivery CMMI Level 3 for all of U.S. Operations ISO 9001 Quality Management Credential Quality and Efficient Delivery IPPS-Army Outperforms 11 | CACI 4th Quarter Fiscal Year 2016 Conference Call | August 18, 2016
Slide 12: Forward Indicators are Strong
Forward Indicators are Strong FY17 Revenue Profile 86% EXISTING 10% RECOMPETES 4% NEW BUSINESS BUSINESS Already well High win rate Quality pipeline funded Backlog of $11.0 billion as of June 30, 2016 Pipeline of submitted bids totals more than $12 billion ~75% for new business to CACI Bids expected
Slide 13: CEO Closing Comments
CEO Closing Comments Pleased with CACI’s position in our addressable market FY16 provides solid foundation going forward Reiterating FY17 guidance Ninth Annual National Security Symposium on September 22nd 13 | CACI 4th Quarter Fiscal Year 2016 Conference Call | August 18, 2016
Slide 14: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) Adjusted EBITDA is GAAP net income attributable to CACI plus interest expense, income taxes, depreciation and amortization, and earnout adjustments Quarter Ended Twelve Months Ended (dollars in t
Slide 15: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures Adjusted Net Income Attributable to CACI Adjusted net income is GAAP net income attributable to CACI plus stock-based compensation expense, depreciation and amortization, amortization of financing costs, and earnout adjustments, net of related tax effects Quarter End
Slide 16: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures Diluted Adjusted Earnings Per Share Diluted adjusted earnings per share is adjusted net income attributable to CACI divided by diluted weighted-average shares, as reported Quarter Ended Twelve Months Ended (shares in thousands) 6/30/2016 6/30/2015 % Change 6/30/2016
Slide 17: Definitions of Non-GAAP Measures
Definitions of Non-GAAP Measures Pro Forma Adjusted EBITDA Pro forma Adjusted TTM EBITDA is Adjusted EBITDA assuming that the NSS acquisition occurred at the beginning of July 2015, adjusted for certain non- recurring expenses and goodwill impairment FY16 (Amounts in thousands) TTM Pro forma net los