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For the Fourth Quarter:

Fourth quarter 2020 revenue was $1.6 billion, compared to $1.7 billion for the fourth quarter of 2019. GAAP net income was $112.9 million, or $1.54 per diluted share, compared to $100.7 million, or $1.33 per diluted share, in the fourth quarter of 2019.

Fourth quarter 2020 adjusted net income and adjusted diluted earnings per share, both non-GAAP measures, were $128.1 million, or $1.75 per adjusted diluted share, compared to $106.3 million, or $1.40 per adjusted diluted share in the fourth quarter of 2019, a 25% increase per adjusted diluted share.

Fourth quarter 2020 adjusted EBITDA, also a non-GAAP measure, was $261.5 million, compared to $210.2 million in the fourth quarter of 2019, a 24% increase. Fourth quarter adjusted EBITDA margin rate of 16.0% increased 370 basis points compared to the fourth quarter of 2019.

18-month backlog as of December 31, 2020 was $7.9 billion, compared to $7.7 billion as of September 30, 2020 and $8.0 billion as of December 31, 2019.

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