CSRA Inc. (NYSE:CSRA), a leading provider of next-generation IT solutions and professional services to government organizations, today announced financial results for the fourth quarter of fiscal year 2017, which ended March 31, 2017.
"In fiscal year 2017, we built a strong foundation for the future through robust business development success, differentiated technical offerings, and strong financial management," said Larry Prior, CSRA president and CEO. "We ended the year on a high note, as our fourth quarter revenue, adjusted EBITDA, and adjusted EPS met or exceeded consensus estimates, and we booked $1.3 billion in awards. Our book-to-bill ratio of 1.1x marked the ninth straight quarter with bookings at or above revenue. This success gives us confidence that we will achieve organic revenue growth in fiscal year 2018 while also maintaining strong profitability and free cash flow. I am also pleased to announce that we will soon make our first acquisition as a public company. NES Associates will bring us strong competitive advantage in a number of large, nearterm IT network opportunities—another example of how we live our tagline, 'Think Next. Now.'"
- Revenue: $1.25 billion for Q4—up 3 percent sequentially, down 3 percent year-over-year
- Diluted EPS: $0.22 (GAAP) and $0.49 (Adjusted) for Q4 and $1.84 (GAAP) and $1.91 (Adjusted) reflect strong profitability
- Adjusted diluted EPS for quarter and fiscal year up 7 percent and 10 percent, respectively, compared to fiscal year 2016
- Robust book-to-bill ratios of 1.1x for the quarter and 1.4x for the trailing twelve months build the foundation for future growth
- FY18 guidance projects return to organic revenue growth
CSRA executive management held a conference call on May 24, 2017, at 5 p.m. Eastern to discuss the financial results and outlook and answer questions. View the webcast materials.
About CSRA Inc.
CSRA (NYSE: CSRA) solves our nation’s hardest mission problems as a bridge from mission and enterprise IT to Next Gen, from government to technology partners, and from agency to agency. CSRA is tomorrow’s thinking, today. For our customers, our partners, and ultimately, all the people our mission touches, CSRA is realizing the promise of technology to change the world through next-generation thinking and meaningful results. CSRA is driving towards achieving sustainable, industry-leading organic growth across federal and state/local markets through customer intimacy, rapid innovation and outcome-based experience. CSRA has over 18,000 employees and is headquartered in Falls Church, Virginia. To learn more about CSRA, visit www.csra.com. Think Next. Now.
All statements in this press release and in all future press releases that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements represent CSRA's intentions, plans, expectations and beliefs, including statements about the effects of the program on our business and our ability to enhance mission capabilities of our customers. The forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside the control of CSRA. These factors could cause actual results to differ materially from forward-looking statements. For a written description of these factors, see the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in CSRA's most recent Annual Report on Form 10-K and any updating information in subsequent SEC filings. CSRA disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent event or otherwise.