CACI Issues Guidance for Its Fiscal Year 2020

CACI International Inc (NYSE:
CACI), a leading information solutions and services provider to the
federal government, issued its guidance for its Fiscal Year 2020 (FY20),
which begins July 1, 2019, and reiterated its Fiscal Year 2019 (FY19)
guidance.

Commentary

John Mengucci, CACI’s newly-appointed President and CEO said, “Our FY20
guidance builds on our strong FY19 performance of organic revenue
growth, expanded profitability, and strong contract awards. In FY20, we
expect to double our organic revenue growth, further expand margins, and
continue generating robust cash flow. Our addressable market continues
to expand, and we have positioned CACI as a strong performer,
well-aligned with key budget priorities. I am confident that CACI will
continue to generate long-term shareholder value. Finally, I want to
thank Ken Asbury for his significant contributions to CACI over the past
six years. I am truly proud to have worked with him to contribute to the
great company we have today.”

Guidance for Fiscal Year 2020

The table below summarizes our FY20 guidance ranges and represents our
views as of June 19, 2019:

Following are the key factors related to our FY20 guidance:

• Gross profit is expected to increase by approximately 20% from FY19.
• Indirect costs and selling expenses, which includes fringe on labor,
  are expected to increase by approximately 18% from FY19. This increase
  is driven by the growth in our business, the full-year impact of
  recent acquisitions, and further investment in business development,
  IR&D, and human resources-related initiatives.
• Depreciation and amortization is expected to be approximately $108
  million.
• Net interest expense is expected to be approximately $70 million.
• The full-year effective corporate tax rate is expected to be
  approximately 23%, with the effective tax rate in the first and second
  halves of fiscal 2020 to be approximately 19.5% and 25.0%,
  respectively. This difference is due to tax benefits associated with
  the vesting of equity grants in the first half of fiscal 2020.
• Capital expenditures are expected to be approximately $55 million,
  reflecting the full-year impact of recent acquisitions.

FY19 Guidance Reiterated

We are reiterating the FY19 guidance we issued on May 1, 2019. The table
below summarizes our FY19 guidance and represents our views as of June
19, 2019:

Conference Call Information

We have scheduled a conference call for 8:30 AM Eastern Time Thursday,
June 20, 2019, during which members of our senior management will be
making a brief presentation followed by a question-and-answer session to
discuss the guidance and management’s performance expectations for the
new fiscal year. You can listen to the webcast and view the accompanying
exhibits on CACI’s investor relations website at http://investor.caci.com/news/#upcomingevent
at the scheduled time. A replay of the call will also be available on
CACI’s investor relations website at http://investor.caci.com/.

CACI Announces Investor Day

CACI will host an Investor Day for investors and analysts on Tuesday,
September 17^th, 2019 in New York City. During the event,
members of CACI’s senior management team will discuss key attributes of
the company’s business, as well as CACI’s strategy, financial
performance, and other topics. Further details, including webcast
information, are forthcoming.

About CACI

CACI provides information solutions and services in support of national
security missions and government transformation for Intelligence,
Defense, and Federal Civilian customers. A Fortune World’s Most
Admired Company, CACI is a member of the Fortune 1000 Largest
Companies, the Russell 2000 Index, and the S&P MidCap 400 Index. CACI’s
sustained commitment to ethics and integrity defines its corporate
culture and drives its success. With approximately 22,000 employees
worldwide, CACI provides dynamic career opportunities for military
veterans and industry professionals to support the nation’s most
critical missions. Join us! www.caci.com.

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
cause actual results to differ materially from anticipated results. The
factors that could cause actual results to differ materially from those
anticipated include, but are not limited to, the following: legal,
regulatory, and political change successive presidential administrations
that could result in economic uncertainty; changes in U.S. federal
agencies, current agreements with other nations, foreign events, or any
other events which may affect the global economy; regional and national
economic conditions in the United States and globally; terrorist
activities or war; changes in interest rates; currency fluctuations;
significant fluctuations in the equity markets; changes in our effective
tax rate; failure to achieve contract awards in connection with
re-competes for present business and/or competition for new business;
the risks and uncertainties associated with client interest in and
purchases of new products and/or services; continued funding of U.S.
government or other public sector projects, based on a change in
spending patterns, implementation of spending cuts(sequestration) under
the Budget Control Act of 2011, or any legislation that amends or
changes discretionary spending levels under that act; changes in
budgetary priorities or in the event of a priority need for funds, such
as homeland security; government contract procurement (such as bid
protest, small business set asides, loss of work due to organizational
conflicts of interest, etc.) and termination risks; the results of
government audits and reviews conducted by the Defense Contract Audit
Agency, the Defense Contract Management Agency, or other governmental
entities with cognizant oversight; individual business decisions of our
clients; paradigm shifts in technology; competitive factors such as
pricing pressures and/or competition to hire and retain
employees(particularly those with security clearances); market
speculation regarding our continued independence; material changes in
laws or regulations applicable to our businesses, particularly in
connection with (i) government contracts for services, (ii) outsourcing
of activities that have been performed by the government, and
(iii)competition for task orders under Government Wide Acquisition
Contracts (GWACs) and/or schedule contracts with the General Services
Administration; the potential impact of the announcement or consummation
of a proposed transaction and our ability to successfully integrate the
operations of our recent and any future acquisitions; our own ability to
achieve the objectives of near term or long range business plans; and
other risks described in our Securities and Exchange Commission filings.

CACI-Earnings Release

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