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ManTech revenues rise 11 percent

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The second-quarter revenue of defense contractor ManTech International Corp.  increased 11 percent.

The Fairfax company reported revenues of $514 million, compared with $465 million from the same period last year.

“We delivered solid results across all operating metrics and dramatically improved cash flow,” ManTech Chairman and CEO George Pedersen said in a statement. “In fact, we now have a net cash position of over $13 million at the end of the second quarter down from $86 million of net debt at the end of the first quarter.”

Net income for the quarter reached $28.5 million, up 30 percent from last year’s second quarter.

ManTech received $422 million in contract awards during the second quarter, 80 percent of which came from new clients or add-on business. About $250 million of that came from cyber and classified-related contracts.


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