Booz Allen Hamilton Holding Corporation (NYSE:BAH), the parent company of management and technology consulting firm Booz Allen Hamilton Inc., today announced preliminary results for the first quarter of fiscal 2014 with revenue slightly lower and earnings higher than the prior year period. Booz Allen also reported total backlog of $11.27 billion as of June 30, 2013. Booz Allen’s fiscal year runs from April 1 to March 31, with the first quarter of fiscal 2014 ending June 30, 2013.
Revenue in the first quarter of fiscal 2014 was $1.428 billion, compared with $1.432 billion in the prior year period, a decrease of 0.3 percent. Adjusted Net Income increased to $73.2 million from $66.0 million in the prior year period, while net income increased to $70.3 million from $61.9 million in the prior year period. Adjusted Diluted Earnings per Share was $0.50 in the first quarter of fiscal 2014 compared with $0.46 in the prior year period. Diluted earnings per share in the first quarter of 2014 was $0.48, compared with $0.43 in the prior year period.
Today, the Company is announcing a regular cash dividend in the amount of $0.10 per share, which will be payable on August 30, 2013 to stockholders of record on August 12, 2013.
Ralph W. Shrader, Booz Allen’s Chairman, Chief Executive Officer, and President, said “We are focused on the important things that we can control in the midst of unprecedented external factors and uncertain market conditions. First and foremost, we are serving our clients with the highest quality work and commitment to their mission. We are also supporting our people and the communities in which we work and live, and are focused on delivering value to our stockholders through our effective management of the business and capital deployment choices.
“Booz Allen continues to win significant contract awards across all of our major markets, including large new and recompete wins during the quarter from the Department of Veterans Affairs, Department of Interior, US Army, Navy, and Coast Guard, and the National Geospatial-Intelligence Agency. We also increased our focus on effective project management while enhancing control of our cost base which has enabled us to again deliver on bottom-line commitments.