Technology and strategic consulting services provider
fourth quarter earnings rose 9.4% from the year-ago period.
The company earned $17.4 million, or 30 cents a share, in the quarter, compared with $15.9 million, or 28 cents a share, a year ago. Adjusted for stock-option expenses, earnings were $19.5 million, or 34 cents a share in the most recent quarter. Analysts polled by Thomson First Call were expecting earnings of $16.2 million, or 28 cents a share.
Fourth-quarter revenue rose 23.3% from a year ago to $297.2 million, on receiving number of contracts from the U.S. government agencies and departments. Analysts were expecting revenue of $301.2 million.
The company expects to earn at least 26 cents a share in the first quarter of 2007, on revenue of $290 million to $295 million. Adjusted for stock-options, expense earnings are expected to be at least 29 cents a share. Full year 2007 earnings are expected to be $1.17 a share to $1.25 a share, on revenue of $1.29 billion to $1.33 billion. Adjusted earnings are expected to be $1.30 a share to $1.38 a share. Analysts were expecting earnings of 28 cents a share on revenue of $320 million in the first quarter and $1.27 a share on revenue of $1.36 billion for the full year.
''We're beginning to see the return on our Q3 and Q4 investments, in the form of $442 million in new awards," the company said.
Fourth-quarter operating income rose 10.7% from a year ago to $26.9 million, however operating margin declined 102.8 basis points to 9.1%.
The company's backlog at the end of quarter rose 19% to $3.3 billion.
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