2014 CACI International Stockholders Meeting Operations Overview
Thank you, Ken, and good morning everyone. I'd like to take this opportunity to go over some of our operational highlights for FY 2014 and the first quarter of 2015.
Throughout 2014, we continued to adapt to a changing market environment. We are now closely aligned to our 10 market areas, and focused on executing on our strategy. Our commitment to operational excellence is sustaining our business base and positioning us for new business. I am very pleased with our FY14 performance.
Let's take a closer look at our performance by highlighting some of our contract awards for the year.
On our Mega 4 contract with the Department of Justice, we won more than $380 million in new and recompete task order awards. These continue to expand CACI's presence in our Investigation and Litigation Support market area.
We won two prime contracts with the U.S. Army totaling $237 million to support the Warfighter Information Network. This is new work for CACI and expands our presence in the C4ISR and Logistics and Material Readiness market areas.
In our Business Systems market area, we won several contracts, including a $95 million contract with the Department of the Interior to provide maintenance and systems support and a $28 million award to provide software and systems engineering support for the U.S. Transportation Command's Defense Personal Property System
In our Healthcare and Logistics and Material Readiness markets, we won a $75 million contract to provide the U.S. Air Force with Expeditionary Contingency Medical Materiel Support Services.
We also expanded our inventory of indefinite delivery/indefinite quantity (IDIQ) awards. IDIQ contract vehicles support our growth plans across our ten markets and provide us the flexibility to deliver on our customers' mission-critical requirements.
Notably, we won an $899 million multiple award contract to support Transport and Computing Infrastructure for the Space and Naval Warfare Atlantic Business Portfolio. This new business expands our presence in the Enterprise IT space. This is the fifth "Pillar" contract we were awarded, having won the other four in FY13. We also won a $408 million training support contract for the DoD's Joint Improvised Explosive Device Defeat Organization (JIEDDO). This award continues our long-standing work with JIEDDO, and distinguishes us in our Integrated Security Solutions market.
For fiscal year 2014, we won $3.95 billion in contract awards, 14.7 percent higher than the $3.44 billion we won in FY13. This increase demonstrates the value of the investments we've made in refining our business development process over the last year.
Our United Kingdom operations delivered another solid year. Revenue was up 6 percent and net income was up 7 percent. Key accomplishments for the year include winning a contract to provide our proprietary OfficeBase enterprise resource planning software to the U.K. government. This contract opens up further opportunities in the growing U.K. market for managing care services. We also expanded our business with one of the largest users of our geodemographic information system, InSite, on the basis of our strong past performance.
Our first quarter of FY 2015 demonstrates how our business development strategy and focus on operational excellence are paying off. We won a record $2.4 billion in contract awards this quarter, 30 percent higher than a year ago, with about 40 percent coming of those wins in new business. We won awards across all ten of our markets, concentrated in Business Systems, C4ISR, Enterprise IT, and Intelligence.
Our performance over the course of the year resulted in some very strong forward indicators.
We received $1.3 billion in funding orders, bringing funded backlog to $2.1 billion at the end of the quarter, up 34 percent from the end of June. Our total backlog is $8.7 billion, giving us an estimated 32 months of revenue at the September quarter run rate. Furthermore, 71 percent of existing business revenue is already funded, up from 52 percent when we gave guidance in August.
The revenue guidance we gave in August consisted of 76 percent existing business revenue, 11 percent recompete, and 13 percent new business. I'm pleased to report that we have improved that position to 89 percent existing business, five percent recompete, and six percent new business. This means we are currently executing on 94 percent of our planned revenue for the year.
We also have a very robust, very healthy opportunity pipeline. Our pending awards now total $8.7 billion, with 84 percent coming from new business. We will also be submitting another $13 billion in qualified opportunities over the next six months. 60 percent of that is new business to CACI.
Looking at these forward indicators, and our performance over the last year, we are very confident in our three-part growth strategy and our ability to execute that strategy. We are confident that we will continue to win new business, deliver operational excellence for our customers, and identify the best new opportunities to deploy our capital for growth.