Booz Allen Q4 Profit Down, But Beats View; Raises Quarterly Dividend By 10%

(RTTNews) - Booz Allen Hamilton Holding Corp. (BAH), the parent company of management and technology consulting firm Booz Allen Hamilton Inc. Wednesday reported lower earnings for the fourth quarter, reflecting decline in revenues.

The company's net Income decreased to $46.9 million or $0.30 per share from $54.8 million or $0.37 per share in the prior year period. On an adjusted basis, net income amounted to $49.2 million or $0.33 per share. On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.31 per share for the quarter. Analysts' estimates typically exclude special items.

As a result of uncertainties in the government contracting environment, including the October 2013 government shutdown, revenues for the quarter declined to $1.39 billion from $1.54 billion last year. Analysts estimated revenues of $1.40 billion for the quarter.

Looking ahead, for fiscal 2015, the firm expects earnings per share in the range of $1.44 to $1.54, and adjusted earnings to be in the order of $1.50 to $1.60 per share. Revenues are estimated to decline by a mid-single digit percentage. Street analysts expect the company to earn $1.56 per share, on revenues of $5.33 billion.

Further, the company declared a 10 percent increase in its regular quarterly cash dividend, which is now $0.11 per share, payable on June 30, 2014, to stockholders on record June 10, 2014.