NCI Q4 revenue down slightly YoY

NCI, Inc. (NASDAQ: NCIT), a provider of information technology and professional services and solutions to US Federal Government agencies, today announced its financial and operating results for the fourth quarter and fiscal year ended December 31, 2016.

NCI reported revenue for the fourth quarter of USD 77.5m and GAAP diluted earnings per share of USD 0.08 compared with revenue of USD 84.0m and GAAP diluted earnings per share of USD 0.26, as restated, for the year-ago quarter.

For the year ended December 31, 2016, revenues were USD 322.4m and GAAP diluted earnings per share (EPS) were USD 0.69, compared with revenues of USD 333.1m and GAAP diluted EPS of USD 0.89, as restated, for the year ended December 31, 2015.

Revenue for the year ended December 31, 2016, decreased by 3.2% to USD 322.4m, principally due to contracts that ended during the year; lower revenue on several recently won recompetes; reductions in staffing and scope of work on other contracts; and delayed revenue on new contracts awarded in 2016.

The decrease was partially offset by higher revenues derived under the PEO Soldier program, the CNOSS program and new contract awards in 2016.

NCI is a provider of enterprise solutions and services to US defense, intelligence, health and civilian government agencies. Headquartered in Reston, Virginia, NCI has approximately 2,000 employees operating at more than 100 locations worldwide.