This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Booz Allen Hamilton Announces Fourth Quarter And Full Year Fiscal 2012 Results

In the fourth quarter of fiscal 2012, net income increased to $50.6 million from $18.1 million in the prior year period, and Adjusted Net Income increased to $62.2 million from $50.5 million in the prior year period. Adjusted EBITDA increased 12.9 percent to $130.6 million in the fourth quarter of fiscal 2012, compared with $115.6 million in the prior year period. Adjusted Net Income and Adjusted EBITDA exclude the net restructuring charge of $11.2 million discussed above. In the fourth quarter of fiscal 2012, diluted EPS increased to $0.36 per share from $0.13 per share in the prior year period, while Adjusted Diluted EPS increased to $0.44 per share compared to $0.36 per share in the prior year period.

During the fourth quarter, the Company recorded an adjustment to revenue associated with the recovery of allowable state income tax expense that in the aggregate increased revenue and operating income by approximately $10.1 million ($6.1 million net of taxes), which should have been allocated to the prior quarters of fiscal 2012 in which the expense was incurred. This operating income figure does not take into account a partially offsetting effect related to incentive compensation expense. The amount of the adjustment allocable to each prior quarter is not material to any of those prior quarters’ financial statements, and the aggregate adjustment is not material to the fourth quarter, therefore the Company recorded the correction of this error in the fourth quarter of fiscal 2012.

Full Fiscal Year 2012 – Booz Allen’s 4.8 percent increase in revenue in fiscal 2012 over the prior year was primarily driven by improved deployment of direct consulting staff against funded backlog under existing contracts and funded backlog under new contracts in all markets, as well as other direct costs. We continued to grow revenue despite budget decreases and procurement delays by the U.S. federal government.

In fiscal 2012, operating income increased to $387.4 million from $319.4 million in fiscal 2011, and Adjusted Operating Income increased to $429.2 million from $392.5 million in fiscal 2011. The increase in Adjusted Operating Income was primarily driven by growth in revenue and increased profitability resulting from a decrease in incentive compensation costs. These increases were partially offset by unbillable staff compensation costs and unrecoverable expenses. As discussed above related to fourth quarter results, full year Adjusted Operating Income excludes the net restructuring charge of $11.2 million associated with one-time termination benefits paid to departing employees as part of a plan to reduce certain personnel and infrastructure costs.

3 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,521.37 +80.78 0.46%
S&P 500 2,079.68 +12.04 0.58%
NASDAQ 5,051.1460 +11.37 0.23%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs