As shown in the disclaimer on slide three, please keep in mind that some of the items we will discuss this morning will include statements that maybe considered forward looking and therefore our subject to known and unknown risks and uncertainties, which may cause our actual results in future period to differ materially from forecasted results.Those risks and uncertainties include among other things, general economic conditions, the availability of government funding for our company services and other factors discussed in today’s earnings release and set forth under the forward-looking statements disclaimer included in our fiscal 2012 second quarter earnings release and in our SEC filings. We caution you not to place undue reliance on any forward-looking statements that we may make today and remind you that we assume no obligation to update or revise the information discussed on this call. During today’s call we will also discuss some non-GAAP financial measures and other metrics, which we believe provide useful information for investors. We include reconciliations to our non-GAAP measures to the most comparable GAAP measure in our fiscal 2012-second quarter earnings release and in these slides. It is now my pleasure to turn over to our CEO, Ralph Shrader. And he will start on slide four. Ralph Shrader Thank you, Curt. Good morning and thank you for joining us today. There’s no question these are challenging times for the global and national economy. Now more than every there are heightened expectations for business to deliver quality products and services, to create jobs and contribute to the economy and to be physically and socially responsible. Booz Allen is committed to be the consultant of choice to our clients, the employer of choice for talented people, a good corporate citizen and an investment of choice. We completed the second quarter, and first half of fiscal year 2012 with solid growth in revenue and profitably. During this period we continued to grow our federal government business, despite challenging conditions in that market and grew across all of our major federal markets, civil, defense and intelligent, with our greatest growth in areas related to health and cyber. Additionally we launched our focused expansion strategy into commercial and international markets when our non-compete agreement ended on July 31, 2011.
In the past three months we opened our New Your office across from Bryant Park, expanded in San Francisco in Charlotte and began to grow our headcount in Abu Dhabi. Booz Allen long track record of organic revenue growth going back two decades, extends further with today’s report of our fiscal 2012 Q2 and half year results.Our second quarter revenue increased to $1.43 billion, up from $1.37 billion in the second quarter of fiscal 2011. Net income for the quarter increased to $75.3 million, up from $14.8 million in the prior year period. Adjusted EBITDA increased to $114.5 million up from $101.3 million from the second quarter of fiscal 2011 and adjusted diluted earnings per share increased by $0.11 for the quarter to $0.36 per share. The end of the government’s fiscal year is always a defining moment for those who serve the federal market and I’m very pleased to report that Booz Allen’s total backlog grew to a record $12.86 billion as of September 30, 2011, the closing day of our second quarter, which coincides with the end of the government’s fiscal year. This record backlog level, which represents an increase of 16.4% of the last year at this time, shows Booz Allen’s competitive success and proven ability to win new contract awards and defend re-competes of our existing contacts. A backlog of this magnitude gives us confidence for the future. Booz Allen’s powerful combination of stability and agility benefit our clients, our people and our investors. Our single P&L structure and collaborative culture enables us to easily move leaders and resources to growth markets. To borrow a hockey metaphor, we skate to where the puck is going to be. Read the rest of this transcript for free on seekingalpha.com