Vectrus, Inc. (NYSE: VEC) has announced second quarter 2017 financial results, the company said.
For the second quarter, revenue was USD 259.3 million, operating income was USD 9.2 million, and diluted earnings per share were USD 0.49. As of June 30, 2017, year-to-date net cash provided by operating activities was USD 5.7 million.
Operating income was USD 9.2 million or 3.5 percent operating margin in the second quarter of 2017, compared to USD 11.3 million or 3.7 percent operating margin in the second quarter of 2016.
Second quarter 2017 diluted earnings per share were USD 0.49 compared to USD 0.55 in the second quarter 2016.
Year-to-date June 30, 2017, net cash provided by operating activities was USD 5.7 million, a decrease of USD 13.5 million compared to the 2016 period. Days sales outstanding was 59 days in the second quarter of 2017 compared to 52 days in the second quarter of 2016.
The company ended the second quarter of 2017 with a total debt balance of USD 78.0 million, which was down from USD 85.0 million at the end of 2016. As of June 30, 2017, the company had a total consolidated indebtedness to consolidated EBITDA (total leverage ratio) of 1.61 to 1.00x.
The company ended the second quarter 2017 with total backlog of USD 2.8 billion and funded backlog of USD 0.9 billion.
Vectrus is a, global government services company with a history in the services market that dates back more than 70 years. The company provides facility and logistics services, and information technology and network communication services to US government customers around the world. Vectrus is differentiated by operational excellence, superior program performance, a history of long-term customer relationships, and a strong commitment to their mission success. Vectrus is headquartered in Colorado Springs, Colo., and includes about 5,600 employees spanning 143 locations in 18 countries. In 2016, Vectrus generated sales of USD 1.2 billion.