FALLS CHURCH, Va., Aug 9, 2017 - CSRA Inc. (NYSE:CSRA), a leading provider of next-generation IT solutions and professional services to government organizations, today announced financial results for the first quarter of fiscal year 2018, which ended June 30, 2017.
"We are pleased to begin fiscal year 2018 with strong financial performance and vibrant business development results that keep us on track to meet our guidance across all of our financial metrics for the year," said Larry Prior, CSRA president and CEO. "First quarter adjusted EBITDA and adjusted EPS both exceeded consensus estimates, as the result of outstanding program performance. We also booked $1.6 billion in awards for a book-to-bill ratio of 1.3x, anchored by a MilCloud win that underscored our leadership position in cloud development and migration. We began the second quarter by closing the NES Associates acquisition, which is off to a great start and yielding immediate benefits to business development and execution."
- Revenue of $1.23 billion down 2 percent year-over-year
- Operating income of $136 million up 20 percent and Adjusted EBITDA of $204 million up 5 percent year-over-year
- Diluted EPS of $0.47 (GAAP) and $0.48 (Adjusted) reflect strong profitability
- Robust book-to-bill ratios of 1.3x for the quarter and 1.5x for the trailing twelve months build the foundation for future growth
- Reaffirm FY18 guidance across all metrics
View the full statement and results below.
About General Dynamics Information Technology
For more information about General Dynamics Information Technology, a business unit of General Dynamics (NYSE: GD), please visit www.gdit.com.
About General Dynamics
Headquartered in Falls Church, Virginia, General Dynamics (NYSE:GD) is a global aerospace and defense company that offers a broad portfolio of products and services business aviation; combat vehicles, weapon systems and munitions; C4ISR and IT solutions; and shipbuilding. The company’s 2017 revenue was $31 billion. More information is available at www.generaldynamics.com.
Tom Doheny, Communications, email@example.com, 571-353-4454
This website includes press releases originally posted on CSRA.com prior to its acquisition by General Dynamics. This content was migrated to GDIT.com on July 9, 2018.