ManTech International Corporation (NASDAQ:MANT) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
ManTech International Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 13.43% to $0.58 in the quarter versus EPS of $0.67 in the year-earlier quarter.
Revenue: Decreased 5.3% to $605.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: ManTech International Corporation reported adjusted EPS income of $0.58 per share. By that measure, the company beat the mean analyst estimate of $0.56. It missed the average revenue estimate of $633.75 million.
Quoting Management: “Our cyber, intelligence and other critical technology businesses are thriving, and our control of indirect costs is driving competitiveness and profitability,” said ManTech Chairman and Chief Executive Officer George J. Pedersen. “ManTech is managing the business well through this difficult current environment. Even as we address a reduction in requirements for warfighter support in Afghanistan, our reputation and contract portfolio in critical areas, such as cyber, intelligence, information technology and health care, and our strong balance sheet position us for future growth. We currently have operations in 18 countries around the world that enable ManTech to respond to customer requirements quickly and efficiently.”
Key Stats (on next page)…