Posts a revenue of $161.93m compared to $186.42m for the fourth quarter of 2007
ICF International, a provider of consulting services and technology solutions, has reported a net income of $6.14m , or $0.40 per diluted share, for the fourth quarter ended December 31, 2008, compared to $9.62m, or $0.64 per diluted share, for the same quarter of 2007.
For the fourth quarter of 2008, gross revenue was $161.93m, compared to $186.42m for the fourth quarter of 2007.
For the year 2008, gross revenue was $697.43m, compared to $727.12m for 2007. Net income was $28.72m, or $1.88 per diluted share, compared to $40.56m, or $2.72 per diluted share, for 2007.
Kesavan, chairman and CEO of ICF international, said: Core business revenue growth was broad-based, driven by double-digit increases across most of our key markets, and was led by energy; climate change; environment; and health, human services, and social programs. Organic growth for the quarter was 16%, exclusive of the Simat, Helliesen & Eichner, and Jones & Stokes acquisitions, reflecting strong demand for ICF’s domain expertise. Advisory and implementation work for government clients accounted for approximately 75% of 2008 fourth quarter core business revenues, with the remaining 25% derived from commercial work.