| Year Ended June 30, | ||||||||||||||||||||
| 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
| (in thousands, except per share data) | ||||||||||||||||||||
Summary of Operations: | ||||||||||||||||||||
| Revenue | $ | 1,614,532 | $ | 1,463,931 | $ | 1,462,650 | $ | 1,268,872 | $ | 1,179,267 | ||||||||||
| Cost of services | 1,224,768 | 1,104,384 | 1,119,940 | 983,535 | 905,710 | |||||||||||||||
| Operating income | 140,360 | 115,921 | 121,278 | 92,825 | 96,967 | |||||||||||||||
| Operating margin | 8.7 | % | 7.9 | % | 8.3 | % | 7.3 | % | 8.2 | % | ||||||||||
| Income from continuing operations, net of tax | 88,921 | 68,352 | 74,381 | 63,430 | 62,520 | |||||||||||||||
| Loss from discontinued operations, net of tax | (70,506 | ) | (10,352 | ) | (1,117 | ) | 0 | 0 | ||||||||||||
| Net income (loss) | $ | 18,415 | $ | 58,000 | $ | 73,264 | $ | 63,430 | $ | 62,520 | ||||||||||
| Basic earnings per share (a) | $ | 0.31 | $ | 1.02 | $ | 1.26 | $ | 1.12 | $ | 1.14 | ||||||||||
| Diluted earnings per share | $ | 0.30 | $ | 1.01 | $ | 1.24 | $ | 1.09 | $ | 1.08 | ||||||||||
Cash Flows: | ||||||||||||||||||||
| Net cash provided by operating activities of continuing operations | $ | 97,264 | $ | 109,272 | $ | 87,815 | $ | 122,444 | $ | 86,831 | ||||||||||
| Net cash used in investing activities (b) | (1,182 | ) | (142,408 | ) | (199,585 | ) | (101,206 | ) | (104,748 | ) | ||||||||||
| Net cash (used in) provided by financing activities (b) | (71,433 | ) | (100,878 | ) | 133,014 | 17,232 | 28,508 | |||||||||||||
| Free cash flow (c) | 83,898 | 94,215 | 77,052 | 109,820 | 71,192 | |||||||||||||||
Balance Sheet: | ||||||||||||||||||||
| Cash and cash equivalents | $ | 98,113 | $ | 74,683 | $ | 229,260 | $ | 212,034 | $ | 173,564 | ||||||||||
| Working capital (d) | 235,416 | 192,065 | 361,058 | 297,085 | 299,567 | |||||||||||||||
| Total assets | 944,750 | 931,007 | 1,111,704 | 847,684 | 724,722 | |||||||||||||||
| Long-term debt | — | 75,000 | 150,000 | — | — | |||||||||||||||
| Total stockholders’ equity | 771,563 | 741,620 | 692,936 | 625,455 | 533,297 | |||||||||||||||
Other Operating Data: | ||||||||||||||||||||
| Funded backlog | $ | 724,400 | $ | 721,300 | $ | 698,800 | $ | 600,400 | $ | 512,800 | ||||||||||
| Total backlog | 4,371,200 | 3,979,700 | 3,856,100 | 3,410,200 | 3,261,600 | |||||||||||||||
| Days sales outstanding (e) | 69 | 72 | 76 | 68 | 80 | |||||||||||||||
| (a) | During fiscal 2010 we adopted new accounting guidance which requires that we retrospectively allocate a portion of our earnings to outstanding unvested restricted share awards that qualify as participating securities. The adoption of this guidance reduced previously reported basic earnings per share (EPS) for the years ended June 30, 2009 and 2008 by one cent. There was no measurable effect on basic EPS for the years ended June 30, 2007 and 2006. | |
| (b) | Includes results of discontinued operations. | |
| (c) | Free cash flow is a non-GAAP financial metric, which we calculate as cash provided by operating activities of continuing operations less capital expenditures. This metric and its usefulness are discussed in Item 7Management’s Discussion and Analysis of Financial Condition and Results of Operations. | |
| (d) | Working capital is defined as total current assets (excluding current assets of discontinued operations) minus total current liabilities (excluding liabilities of discontinued operations). |
| (e) | Days sales outstanding shown in the table above is calculated using the fiscal year end balances in accounts receivable net of billings in excess of revenue, and revenue per day for the fourth quarter of each fiscal year. Revenue per day for the quarter is calculated by dividing revenue for the quarter by 90 days. |
