CORRECTION-CACI CEO sees growth despite tough budget climate

* Shares up over 5 pct

* Company posted record revenues in Q1 fiscal 2013

WASHINGTON, Nov 1 (Reuters) - CACI International Inc's shares surged more than 5 percent on Thursday, a day after the provider of services and systems to the U.S. government reported strong quarterly earnings and said it expects to continue to grow despite the difficult U.S. budget environment.

Chief Executive Dan Allen told Reuters that the company saw growth in eight of its 10 main business sectors and expected higher revenues in the two remaining areas in the second half of the company's fiscal year, which ends June 30.

He said the company was on track to meet its full-year targets, including earnings per share of $6.64 to $6.93 on revenue of $3.8 billion to $4 billion.

``Even in a difficult budget environment, we're going to grow,'' Allen told Reuters. ``We want to grow aggressively.''

He said the company still aimed to double its size over the next five years through expansion in its key markets and targeted acquisitions.

``That's kind of the mark that we have out there. That's been the mindset of the organization over time,'' Allen said, although he acknowledged that the challenge became greater the larger the company became.

Allen told analysts earlier on Thursday that the company was well positioned in 10 markets that either promised high growth or already generated high-volume orders.

He said the company was keeping close tabs on budget decisions in Washington, and hoped Congress would find a way to avoid billions of dollars in additional defense spending cuts that are due to start taking effect on Jan. 2.

But he said the company did not expect a significant impact on its overall outlook, even if the cuts took effect, given that it has a large number of separate contracts - more than 2,100 - with the government.

``We may experience reduced funding on some programs, but we do not expect cancellation of any major programs,'' he said.

Speaking with Reuters, Allen also said his company did not expect to have to issue any layoff notices to workers if lawmakers were unable to avert the reductions.

CACI shares were trading 5.8 percent higher at $53.37 after midday on the New York Stock Exchange.

CACI reported record revenue of $931.2 million in its fiscal first quarter, up 2 percent from $912.4 million in the year-earlier quarter, with earnings per share surging 26.6 percent to $1.49 from $1.18, largely due to two share repurchases.

Allen said the company's business systems and healthcare information technology sectors both generated double-digit revenue growth in the first quarter.

He said the intelligence and command, control and communications sectors - which saw lower revenue as result of the U.S. military drawdown in Afghanistan - were likely to resume modest growth in the second half of the year.

Defensive, offensive and intelligence work in cyberspace would be another high-growth area for the company, Allen said, citing increased concern about cyber attacks on U.S. networks.

He said CACI also remained interested in targeted mergers and acquisitions but valuations were not well aligned with the current budget environment and several possible targets had pulled back earlier this year.