CSRA Inc. (NYSE:CSRA), a leading provider of next-generation IT solutions and professional services to government organizations, today announced financial results for the fourth quarter of fiscal year 2017, which ended March 31, 2017.
"In fiscal year 2017, we built a strong foundation for the future through robust business development success, differentiated technical offerings, and strong financial management," said Larry Prior, CSRA president and CEO. "We ended the year on a high note, as our fourth quarter revenue, adjusted EBITDA, and adjusted EPS met or exceeded consensus estimates, and we booked $1.3 billion in awards. Our book-to-bill ratio of 1.1x marked the ninth straight quarter with bookings at or above revenue. This success gives us confidence that we will achieve organic revenue growth in fiscal year 2018 while also maintaining strong profitability and free cash flow. I am also pleased to announce that we will soon make our first acquisition as a public company. NES Associates will bring us strong competitive advantage in a number of large, nearterm IT network opportunities—another example of how we live our tagline, 'Think Next. Now.'"
- Revenue: $1.25 billion for Q4—up 3 percent sequentially, down 3 percent year-over-year
- Diluted EPS: $0.22 (GAAP) and $0.49 (Adjusted) for Q4 and $1.84 (GAAP) and $1.91 (Adjusted) reflect strong profitability
- Adjusted diluted EPS for quarter and fiscal year up 7 percent and 10 percent, respectively, compared to fiscal year 2016
- Robust book-to-bill ratios of 1.1x for the quarter and 1.4x for the trailing twelve months build the foundation for future growth
- FY18 guidance projects return to organic revenue growth
CSRA executive management held a conference call on May 24, 2017, at 5 p.m. Eastern to discuss the financial results and outlook and answer questions. View the webcast materials.
About General Dynamics Information Technology
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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.