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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 second quarter of fiscal 2014 with revenue slightly lower and earnings showing strong growth over the prior year period. Booz Allen also reported total backlog of $11.65 billion as of September 30, 2013. Booz Allen’s fiscal year runs from April 1 to March 31, with the second quarter of fiscal 2014 ending September 30, 2013.
Revenue in the second quarter of fiscal 2014 was $1.38 billion, compared with $1.39 billion in the prior year period, a decrease of 0.7 percent. In the second quarter of fiscal 2014, net income increased to $67.8 million from $46.1 million in the prior year period, and Adjusted Net Income increased to $70.1 million from $55.7 million in the prior year period. Diluted earnings per share (EPS) was $0.45 for the second quarter of fiscal 2014, compared with $0.27 in the prior year period; Adjusted Diluted Earnings per Share was $0.47 for the current quarter, compared with $0.39 in the prior year period.
The Company authorized and declared both a regular quarterly cash dividend of $0.10 per share, and a special cash dividend of $1.00 per share, each payable on November 29, 2013, to stockholders of record on November 11, 2013.
Ralph W. Shrader, Booz Allen’s Chairman, Chief Executive Officer, and President, said, “Clients, employees, and shareholders can count on Booz Allen to deliver results and fulfill its commitments, even when external forces are difficult and unpredictable. We proved that again with our second quarter fiscal 2014 performance – maintaining revenue close to last year’s level, and delivering another consecutive quarter of strong bottom line results. We’ve been successful in balancing demand and capacity, responding with a very high level of staff productivity and managing our indirect costs to allow investment in critical capabilities and provide continued flexibility in the second half of our fiscal year.