- Gross Revenue was $1.39 billion in the second quarter of fiscal 2017, an increase of 5.5 percent compared with the prior year period, primarily driven by increases in client staff headcount and staff billability, and therefore direct labor, to meet increased client demand. The growth was also driven by an increase in billable expenses.
- Operating Income increased to $117.7 million from $108.8 million and Adjusted Operating Income 1 increased to $122.0 million from $109.9 million in the prior-year period, both primarily driven by the same factors impacting Gross Revenue. Additionally, Operating Income for the second quarter of fiscal 2017 included one-time charges associated with the July 2016 debt refinancing transaction.
- Net Income increased to $62.8 million from $56.2 million and Adjusted Net Income 1 increased to $69.2 million from $57.6 million in the prior-year period. The increases in Net Income and Adjusted Net Income were primarily due to the same factors impacting Operating Income and Adjusted Operating Income, as well as a lower effective tax rate. The increase in Net Income was partially offset by one-time charges associated with the July 2016 debt refinancing transaction.
- Adjusted EBITDA 1 increased to $135.7 million from $124.2 million in the prior year period. The increase was driven by the same factors impacting Gross Revenue and Adjusted Operating Income.
- Diluted EPS increased to $0.41 from $0.37 in the prior year period, and Adjusted Diluted EPS increased to $0.46 from $0.39. The increases were driven by the same factors affecting Net Income and Adjusted Net Income, as well as a slight negative impact from a higher diluted share count in the current period, compared to the prior-year period.
Booz Allen Hamilton Holding Corporation (NYSE:BAH), the parent company of management and technology consulting and engineering services firm Booz Allen Hamilton Inc., today announced preliminary results for the second quarter of fiscal 2017. The Company achieved a third consecutive quarter of healthy year-over-year organic revenue growth and delivered improved earnings over the prior-year period. Solid awards in the second quarter of fiscal 2017 generated a book-to-bill ratio of 2.17x and an 8.7 percent increase in total backlog over the prior-year quarter, which itself had been a near three-year high. Additionally, headcount increased by more than 500 employees over the prior-year period and 230 employees over the first quarter of fiscal 2017. "Our strong second quarter financial results reinforce that Booz Allen is on a steady path to accelerated growth," said Horacio Rozanski, President and Chief Executive Officer. "Both new and long-standing clients recognize that our people bring uncommon solutions by applying the full breadth of our strengths in consulting, technology, and mission knowledge." The Company authorized and declared a regular dividend of $0.15 per share, payable on November 30, 2016, to stockholders of record on November 10, 2016. Financial Review Second Quarter 2016 - A summary of additional results for the second quarter of fiscal 2017 and the key factors driving those results is below: