In its most recent financial report, Parsons said it had net income of $72 million on $1.8 billion in revenue for the three months ended Sept. 30, compared to $47 million on $1.4 billion in revenue for the same period a year ago.

For the nine-month period ended Sept. 30, the company reported net income of $34 million on $5 billion in revenue, compared to $116 million on $3.9 billion for the same period last year.

A ramp-up of recent contract wins helped drive up the quarter revenue, as did growth in existing contracts in the company's critical infrastructure protection and cyber and intelligence markets.

While revenue rose, Parsons net income for the nine-month period was limited by a write-down on a legacy program in the company's critical infrastructure segment—contracts that predate its current more disciplined approach to work it accepts. The legacy program is scheduled to reach substantial completion in the fourth quarter, the firm said.

Parsons, which ranks No. 15 on the ENR Top 500 list, is among government contractors that stand to benefit from both the increasing need for military and security technology and non-military infrastructure.

The company's future workload is promising, with major infrastructure contracts in the New York City area and a growing portfolio of work on projects in Saudi Arabia.

CEO Carey Smith told investment analysts in an Oct. 31 teleconference that the company's strategy included investing in software and integrated solutions and executing "accretive acquisitions that either provide distinguished defense capabilities that counter near-pure threats or strengthen our engineering expertise and increase our geographical footprint in high-growth infrastructure markets."