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Earnings: Booz Allen Hamilton Holding Corp., McLean

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THE TAKE: Booz Allen Hamilton Holding Corp., the parent company of management and technology consulting firm Booz Allen Hamilton Inc., reported a 40 percent drop in profit during its second quarter as revenue fell slightly and the second quarter of 2011 was buoyed by some one-time events. Revenue during the quarter fell 3 percent on billable expenses and a lower ratio of indirect costs to direct labor compared with the prior year period. The second quarter of 2011 included the release of income tax reserve and a gain from the sale of a transportation business.

THE NUMBERS:
Revenue: $1.39 billion, compared with $1.43 billion during the second quarter of 2011
Net income: $46.1 million, down from $75.3 million
Diluted earnings per share: 27 cents per share, compared with 53 cents per share during the same period last year
T
HE COMPANY’S TAKE: Ralph W. Shrader, Booz Allen’s Chairman, CEO, and President: “We grew adjusted earnings and margins and generated significant cash flow this quarter, and we have delivered an impressive 68 percent total return to shareholders for the 12 months ending Sept. 30, 2012. Our backlog is over $12 billion as of September 30, 2012, with a book-to-bill ratio of 2.6, demonstrating strong demand from our clients for our services, despite the generally challenging market conditions for government contractors. Our wins in the important end-of-government-fiscal year period spanned all major markets — civil, defense, and intelligence — and we continue to add new contracts from financial institutions and healthcare and energy companies in the commercial arena.”


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