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ManTech International Corp (NASDAQ:MANT) Q4 2017 Revenue Jumps 17%

ManTech International Corp (NASDAQ:MANT) posted financial report for the fourth quarter 2017, which closed December 31, 2017. Kevin M. Phillips, the CEO and President, expressed that 2017 marked as a remarkable year, following robust contract awards, impressive organic revenue growth, higher profits, prudent capital deployment and strong cash flow.

The buzz

ManTech’s continued success last year was led by its talented employees’ committed focus on customers’ important homeland security and national missions. Phillips stated that as they look to 2018, the growing market opportunity set together with their recent large deal awards position them well to offer continued organic growth and further improve long-term shareholder value. As an outcome of growing demand for their solutions and services, revenues for Q4 2017 came at $462.3 million, a jump of 17% over Q4 2016. Revenues for the year stood at $1.72 billion, an increase of 7% compared to 2016. This jump in revenue was led by a result of organic expansion from contract awards as well as acquisitions.

ManTech reported that operating income stood at $25.7 million for the fourth quarter, a jump of 21% over Q4 2016. For FY2017, operating income came at $98.2 million, an increase of 8% compared to FY2016. Operating margin increased over Q4 2016, and remained consistent YoY. For Q4 2017, cash flow from operations was $38 million. For FY2017 cash flow from operations came at $153 million. DSO were 61 days, an increase of 12 days as against the fourth quarter of 2016.

During Q4 2017, the firm paid $8.2 million, as part of its regular dividend plan to its common stockholders for record date December 8, 2017. As of the close of December 31, 2017, the firm posted cash and cash equivalents of $9.5 million and outstanding borrowings of $31 million on its revolving-credit facility of $500 million, which offers the firm with ample financial capacity to seek acquisitions and issue payouts while maintaining a robust balance sheet.

About the author

Daryl Brant

Brant is Investing News Center's writer focused on technology companies.

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