Booz Allen profit jumps
- November 3, 2011
Booz Allen Holding Corp. reported a jump in second-quarter profit after benefiting from a decrease in interest costs, a gain from a sale, the release of income tax reserves and an increase in revenue.
The McLean-based management and technology consulting company reported net income of $75.3 million, or 53 cents per diluted share, compared with $14.8 million, or 14 cents per diluted share, the previous year. The company sold its state and local transportation business last year.
Booz Allen reported its revenue was up 4.5 percent to $1.4 billion in the quarter that ended Sept. 30.
““We continued to grow revenue across our federal government business, which serves our civil, defense and intelligence markets, during the second quarter of fiscal 2012, despite challenging conditions in those markets,” Booz Allen’s Chairman, CEO and President Ralph Shrader said in a statement. “Our record backlog of $12.86 billion – and our position supporting key programs related to government efficiency, cyber, and health – give us confidence for the future.”