Booz Allen Hamilton Q1 Results Beat View, Reiterates FY14 Outlook

(RTTNews) - Booz Allen Hamilton Holding Corp. (BAH) reported that net income for the first quarter of fiscal 2014 increased to $70.3 million or $0.48 per share from $61.9 million or $0.43 per share in the prior year period.

Adjusted net income for the quarter was $73.2 million or $0.50 per share, compared to $66.0 million or $0.46 per share in the year-ago period. On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.40 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter were $1.428 billion, down 0.3 percent from $1.432 billion in the prior-year period. Analysts had a consensus revenue estimate of $1.41 billion.

The lower revenues were primarily the result of a reduction in billable hours due to modestly lower demand in an uncertain federal budget environment.

The company announced a regular cash dividend in the amount of $0.10 per share, payable on August 30, 2013 to stockholders of record on August 12, 2013.

For fiscal 2014, Booz Allen Hamilton reiterated its outlook for a low-single digit percentage decline in revenue. At the bottom line, for the full year, the company reaffirmed its forecast for earnings per share in a range of $1.47 to $1.57, and adjusted earnings per share of $1.55 to $1.65 per share.

Analysts expect the company to report earnings of $1.56 per share for the year on revenues of $5.64 billion.