ManTech reports 27 percent increase in revenues
- October 30, 2008
Defense contractor ManTech International reported a 27 percent increase in third quarter revenues because of a focus on high-end defense and intelligence projects and a record number of contracts.
Third quarter revenue increased to $486.1 million, compared with $383 million last year. Profits for the quarter increased 37 percent to $23.8 million, compared with $17.4 million last year.
Fairfax-based ManTech also landed a record number of contracts during the quarter, up to $1.42 billion, with 29 percent of that coming from new customers.
“Third quarter results were strong due to ManTech’s strategic positioning at the heart of the national security mission and our focus on execution,” said George J. Pedersen, chairman of the board and CEO of ManTech International Corp., in a statement. “Again we achieved outstanding performance across all operating metrics and our cash flow was exceptional, which provides great operating flexibility for our Company in the difficult credit and liquidity environment.”