NCI Q1 2017 revenue beats guidance

NCI, Inc. (NASDAQ: NCIT), a provider of information technology (IT) and professional services and solutions to US Federal Government agencies, has announced its financial and operating results for the first quarter ended March 31, 2017, the company said.

First-quarter 2017 revenue exceeded the midpoint of management´s guidance range issued last quarter by approximately USD 2m. Adjusted diluted earnings per share (EPS) exceeded the high end of guidance by USD 0.02.

For the three months ended March 31, 2017, revenue decreased by 5.9%, or USD 4.9m, over the same period a year ago. This decrease is principally due to contracts that ended in 2016 and reductions in staffing and scope of work on certain other contracts.

The decrease was partially offset by increased scope and funding on additional contracts and higher revenues from task orders on the expanded CNOSS program as well as revenue derived from contract awards in the second half of 2016.

NCI is a provider of enterprise solutions and services to US defense, intelligence, health and civilian government agencies. The company has the expertise and proven track record to solve its customers´ most important and complex mission challenges through technology and innovation. NCI´s team of highly skilled professionals focuses on delivering cost-effective solutions and services in the areas of agile development and integration; cybersecurity and information assurance; engineering and logistics; big data and data analytics; IT infrastructure optimization and service management; and health and program integrity. Headquartered in Reston, Virginia, NCI has approximately 2,000 employees operating at more than 100 locations worldwide.