Provider of innovative technologies and solutions for mission-critical national security programs for the Intelligence Community, the Departments of Defense, State, Homeland Security, and Justice, and other U.S. federal government agencies.
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The company develops information technology and technical service solutions for various mission critical national security programs, which supports the intelligence, justice and homeland security departments of the U.S government. Their solutions are used in telecommunication networks; infrastructure and system integration efforts supporting the U.S armed forces and other U.S security departments spread across the world.
The intelligence and defense department has been contributing on an average 92% revenue for the last three years, thereby connecting the firm’s revenue flow to U.S government spending in the area of security and defense. The rest of the revenue is contributed by state agencies and commercial entities. Increased spending by U.S government to support troops in Iraq and Afghanistan along with revenue flow from the recently acquired Grey Hawk led to a 17% increase in net revenue. This increase is reflected in the 8% increase in the bottom line.
ManTech has only about 8% of its revenue exposed to commercial market and federal agency spending unlike its contributors, which has a higher percentage of exposure. Thus the recent political shift in the U.S government, resulting in capping of federal security spending, will not affect the company. Also, as all mission critical national security programs has been given a go ahead, the position of the company looks secure.
The spending pattern by the US govt. for defense needs has undergone a change with factors like data integration and information sharing taking centre stage. The onus is now on providing a reliable technical service backbone along with network centric warfare and relevant information support to troops. The U.S government spending in information systems and related areas is expected to reach $66.4 billion by 2007. ManTech has positioned itselves to be a better player in this field, with revenue growth expected at 10% for the next fiscal. These factors can enable the company to continue its upward journey in the coming year also.