Booz Allen Q1 Net Profit Edges Up, But Revenues Drop; Backs FY15 View

(RTTNews) - Booz Allen Hamilton Holding Corp. (BAH), the parent company of management and technology consulting firm Booz Allen Hamilton, Inc. Wednesday reported slightly higher net income while earnings per share edged down by a penny. Revenues declined 7.4 percent year-over-year. In addition, the firm reaffirmed its full-year outlook.

For the first quarter ending June 30, 2014, the company's net earnings rose to $71.1 million from $70.3 million or On the other hand, earnings per share was down to $0.47 from $0.48 in the prior year period.

On an adjusted basis, the company earned $0.50 per share. On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.42 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenues were down 7.4 percent to$1.32 billion, from $1.43 billion last year, primarily due to a decline in headcount driven by continued spending caution by federal government clients. Analysts estimated revenue of $1.32 billion.

Looking ahead, for the fiscal 2015, the company still expects a mid-single digit percentage decline in revenue, and earnings per share in the range of $1.44 - $1.54. Adjusted earnings per share is expected to be on the order of $1.50 - $1.60. Analysts forecast earnings per share of $1.56, on revenues of $5.25 billion.

The board declared a special dividend of $1.00 per share and a regular quarterly cash dividend of $0.11 per share, payable on August 29, to stockholders of record on August 11.