ManTech’s profits and revenue grow
- February 25, 2010
ManTech International’s fourth-quarter revenues grew 10 percent, primarily from its in-theater logistics support, cyber-security services and acquisition of Sensor Technologies.
Revenue for the fourth quarter was $542.1 million. Full-year sales were up 8 percent to $2.02 billion, compared with 2008.
Net income grew 20 percent to $29.5 million in the fourth quarter and 24 percent to $111.8 million for the year. Improved profitability came from higher contract fees, improved cost structure and a drop in the effective tax rate.
“We are starting to see the fruits of our strategy to build on our great foundation of cash generation and redirect resources to top-line growth initiatives,” Lawrence B. Prior, III, president and chief operating officer, said in a statement. “We have added more than 800 employees since the last earnings call, and we are demonstrating on a daily basis that we can take away market share.”