DC Area Contractors Planning for Sequestration Delay; ManTech’s Kevin Phillips Comments

Kevin Phillips

Many government contractors based in the Washington area are making plans that nearly $1 trillion in federal budget cuts under sequestration will be delayed, the Washington Post reports.

Kevin Phillips, ManTech International‘s CFO, told the Post the company expects sales increases next year and revenue growth because of backlog, with the estimates assuming the sequester will not occur.

William Loomis, managing director at financial services firm Stifel Nicolaus, told reporter Marjorie Censer firms believe there will be some type of deferral and the nearly $1 trillion in spending cuts will not kick in Jan. 2.

Samuel Strickland, chief financial officer at Booz Allen Hamilton, told the Post he expects the sequester to be pushed back to April, adding uncertainty continues to exist in the federal market.

Strickland said knowing the sequester would be pushed back three months would provide more insight into what its 2014 fiscal year would look like.

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