FALLS CHURCH, Va., Feb 7, 2018 - CSRA Inc. (NYSE:CSRA), a leading provider of next-generation IT solutions and professional services to government organizations, today announced financial results for the third quarter of fiscal year 2018, which ended December 29, 2017.
"CSRA is the clear leader in next-generation IT delivery for the federal government, which is increasingly looking to harness the transformational potential of the cloud," said Larry Prior, CSRA president and CEO. "Our strong third quarter results demonstrate the power of that premise. We delivered robust revenue growth with important new programs and strategic acquisitions while maintaining our industry-leading margins. Our focus on innovation with leading technology partners continues to drive strong business development success, which signals that our long-term model is solid and our foundation is strong."
- Revenue of $1.31 billion up 7 percent compared to the third quarter of fiscal year 2017 (year-over-year) and up 3 percent compared to the second quarter of fiscal year 2018 (sequentially)
- Operating Income of $128 million up 23 percent and Adjusted EBITDA of $201 million up 7 percent year-over-year
- Diluted EPS of $1.14 (GAAP) and $0.56 (Adjusted) reflect strong profitability and benefits from recent tax reform
- Substantial Operating Cash Flow of $157 million and Free Cash Flow of $133 million
- Robust book-to-bill ratios of 1.3x for the quarter and 1.7x for the trailing twelve months build the foundation for future growth
- Increasing guidance for Fiscal Year 2018 Revenue, Adjusted EBITDA, and Adjusted Diluted EPS
Members of CSRA’s executive team will discuss third quarter fiscal year 2018 earnings during a call/webinar at 5:00 p.m. ET on Wednesday, February 7, 2018.
- Join the conference webcast through this link
- Participating analysts and institutional investors may join the conference call by dialing 1-877-883-0383 (domestic) or 1-412-902-6506 (international) and entering passcode 3778101
- A replay of the conference call will be available on the Investors website approximately two hours after the conclusion of the call
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.