CACI International Inc. (NYSE:CACI) Q4 2020 Earnings Conference Call - Final Transcript
Aug 13, 2020 • 08:30 am ET
Ladies and gentlemen, thank you for standing by, and welcome to the CACI International Fourth Quarter and Full Year Fiscal Year 2020 Conference Call. Today's call is being recorded. [Operator Instructions] At this time, I would like to turn the conference over to Dan Leckburg, Senior Vice President of Investor Relations for CACI International. Please go ahead, sir.
Thank you, Cole, and good morning, everyone. I'm Dan Leckburg, and thank you for joining us this morning. We are providing presentation slides, so let's move to Slide #2, please.
There will be statements in this call that do not address historical fact, and as such, constitute forward-looking statements under current law. These statements reflect our views as of today, and are subject to important factors that could cause our actual results to differ materially from anticipated. Those factors are listed at the bottom of last night's press release and are described in the company's SEC filings. Our safe harbor statement is included on this exhibit and should be incorporated as part of any transcript of this call. I would also like to point out that our presentation will include discussion of non-GAAP financial measures. These should not be considered in isolation or as a substitute for performance measures prepared in accordance with GAAP.
Let's turn to Slide 3, please. To open our discussion this morning, here is John Mengucci, President and Chief Executive Officer of CACI International. John?
Thanks, Dan, and good morning, everyone. Thank you for joining us to discuss our fourth quarter and fiscal year 2020 results as well as our fiscal year 2021 guidance. With me this morning are Tom Mutryn, our Chief Financial Officer; and Greg Bradford, President of CACI Limited, who is joining us from the U.K.
Before we get started, Tom and I want to again express our hope that you and your families are healthy and safe during these unprecedented times. We also want to reiterate how proud we are of our employees, their resilience as we all confront COVID-19 and their unwavering commitment to delivering critical expertise in technology to our customers.
Slide 4, please. Last night, we released our fourth quarter and full year results for fiscal 2020 as well as our guidance for fiscal 2021, and I am very pleased with our performance. Our fourth quarter, with year-over-year growth of 9% in revenue and nearly 90% in net income, 10.9% adjusted EBITDA margin and over $150 million in cash from operations, was a strong finish to a great year; a year in which we met or exceeded our financial commitments even as we navigated the COVID-19 pandemic. For the full fiscal year 2020, we saw revenue growth of 15%, with organic revenue growth accelerating from our initial 5.5% expectation. We expanded our adjusted EBITDA margin to 10%, grew earnings per share by 21% and delivered robust operating cash flow of over $500 million. In addition, we booked a record $11.6 billion of contract awards, with $6.5 billion representing new work to CACI.