Why CACI International Jumped

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What: Shares of professional services provider CACI International (NYS: CACI) have jumped by upwards of 12% after the company announced financial guidance along with a management transition and a new share repurchase program.

So what: The company is reiterating fiscal 2012 guidance with revenue expected between $3.7 billion and $3.8 billion, which should turn into diluted earnings per share between $5.80 and $6.01. Fiscal 2013 should see sales between $3.8 billion and $4 billion with a profit of $6.60-$6.90 per share. That's quite a bit better than a profit of $5.69 per share that the Street was expecting.


Now what: Showing its confidence in next year's forecast, the board has authorized a new share repurchase program for up to 4 million shares of common stock. CEO Paul M. Cofoni notified the company that he plans to retire in December, and will assume the role of chief advisor to the executive chairman starting next month to make for a smooth transition. President of U.S. Operations, Daniel Allen, has been named the new CEO.

Interested in more info on CACI International? Add it to your watchlist byclicking here.

At the time this article was published Fool contributorEvan Niuholds no position in any company mentioned.Click hereto see his holdings and a short bio. The Motley Fool has adisclosure policy. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.

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