The U.S. Army Research Laboratory (ARL) has selected ICF (NASDAQ:ICFI), a global consulting and digital services provider, as one of two awardees eligible to compete for scientific and engineering support services under a new indefinite delivery, indefinite quantity (IDIQ) contract.
The new Command, Control, Communications, Computers, Combat Systems, Intelligence, Surveillance, and Reconnaissance (C5ISR) IDIQ was awarded by the Computational and Information Sciences Directorate, the principal Army organization for basic and applied research in information sciences, network sciences, battlefield environment and advanced computing and computational sciences. The agreement has a shared ceiling value of $175 million and a possible term of up to eight years.
“ICF’s selection for this work further distinguishes us as leaders in a broader spectrum of information sciences,” said Randy James, senior vice president for ICF. “It allows ICF to promote the initiatives of ARL’s research partners in academia, industry and across the federal government and to continue the lab’s global scientific leadership and STEM outreach efforts. Through this effort, ICF will support ARL’s goals in achieving global superiority to deliver the next generation of computer and security technologies.”
ICF was also awarded its first task order under the IDIQ: an estimated $20 million engagement to perform full spectrum defensive cyber operations and research and development. The firm will engage its expertise as a Cybersecurity Service Provider to create opportunities where new concepts and technologies can be researched, tested and applied to operational environments that can be transitioned to the joint warfighter supporting our nation’s defense. The task order has a term of three years including one base and two one-year options.
For more than two decades, ICF has partnered with ARL to develop new concepts and research, test and apply new technologies to our nation's defense. In 2017, ICF was re-engaged to support ARL’s Cybersecurity Service Program where the firm is currently helping in the lab’s efforts to develop cyber tools and techniques and advance state-of-the-art computer network defense.
ICF's cybersecurity specialists help the military, national security and commercial clients build and successfully defend the most aggressively attacked infrastructures on the planet. Read more about ICF’s cyber research and computer and network defense services.
ICF (NASDAQ:ICFI) is a global consulting services company with approximately 7,500 full- and part-time employees, but we are not your typical consultants. At ICF, business analysts and policy specialists work together with digital strategists, data scientists and creatives. We combine unmatched industry expertise with cutting-edge engagement capabilities to help organizations solve their most complex challenges. Since 1969, public and private sector clients have worked with ICF to navigate change and shape the future. Learn more at icf.com.
Statements that are not historical facts and involve known and unknown risks and uncertainties are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements may concern our current expectations about our future results, plans, operations and prospects and involve certain risks, including those related to the government contracting industry generally; our particular business, including our dependence on contracts with U.S. federal government agencies; our ability to acquire and successfully integrate businesses; and the effects of the novel coronavirus disease (COVID-19) and related federal, state and local government actions and reactions on the health of our staff and that of our clients, the continuity of our and our clients' operations, our results of operations and our outlook. These and other factors that could cause our actual results to differ from those indicated in forward-looking statements THAT are included in the "Risk Factors" section of our securities filings with the Securities and Exchange Commission. The forward-looking statements included herein are only made as of the date hereof, and we specifically disclaim any obligation to update these statements in the future.
Fourth Quarter Highlights
- Total Revenue Was $321 Million, Up 11 Percent, Led by Growth in Commercial Revenue
- Diluted EPS Was $1.41; Non-GAAP EPS Was $0.78 1
- Adjusted EBITDA Margin on Service Revenue1 Was 14.4 Percent
- Contract Awards Were $315 Million, 6 Percent Ahead of the Same Period Last Year
Full Year 2017 Highlights
- Total Revenue for 2017 Was $1.23 Billion, Up 3.7% Year-on-Year
- Diluted EPS Was $3.27; Non-GAAP EPS Was $3.02
- Operating Cash Flow Was $117.2 Million, 46% Percent Ahead of 2016
- Contract Awards Were $1.3 Billion for a Book-to-Bill Ratio of 1.1
Company Uses Benefit of Lower Tax Rate to Initiate Quarterly Dividend