In the first quarter of fiscal 2013, operating income increased to $114.7 million from $98.1 million in the prior year period and Adjusted Operating Income increased to $120.3 million from $109.1 million in the prior year period. The improvement in Adjusted Operating Income was primarily driven by more effective deployment of Booz Allen’s consulting staff and disciplined management of our costs.

In the first quarter of fiscal 2013, net income increased to $61.9 million from $51.1 million in the prior year period, and Adjusted Net Income increased to $66.0 million from $58.0 million in the prior year period. Adjusted EBITDA increased 10.4 percent to $135.6 million in the first quarter of fiscal 2013, compared with $122.9 million in the prior year period. In the first quarter of fiscal 2013, diluted EPS increased to $0.43 from $0.37 in the prior year period, while Adjusted Diluted EPS increased to $0.46 compared to $0.41 in the prior year period.

Net cash provided by operating activities for the first quarter of fiscal 2013 was $74.0 million compared with $53.8 million in the prior year period. Free cash flow was $70.1 million, compared to $36.2 million in the prior year period. Booz Allen’s cash flow benefitted from strong cash collections, as evidenced by Days Sales Outstanding of 69 days.

Funded backlog as of June 30, 2012, was $2.58 billion, compared to $2.45 billion as of June 30, 2011. Booz Allen’s total backlog as of June 30, 2012, was $10.23 billion, compared with $11.21 billion as of June 30, 2011. The decrease in total backlog is a reflection of general caution in the government procurement market by our clients; however, in a continued positive direction, Booz Allen saw an increase in its important funded backlog figure in the first quarter of fiscal 2013 compared to the prior year period.

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