Booz Allen Hamilton full year revenue increases 4.8% to $5.86 billion
MCLEAN, VA –- Booz Allen Hamilton Holding Corporation, the parent company of management and technology consulting firm Booz Allen Hamilton Inc., announced preliminary results for the fourth quarter and full year of its fiscal 2012 with revenue and earnings growth over the prior year. Booz Allen’s fiscal year runs from April 1 to March 31, with the fourth quarter of fiscal 2012 ending March 31, 2012.
Revenue in the fourth quarter of fiscal 2012 was $1.54 billion, compared with $1.49 billion in the prior year period, an increase of 3.2 percent. In fiscal year 2012, revenue was $5.86 billion, compared with $5.59 billion in the prior year period, an increase of 4.8 percent. During fiscal 2012, Booz Allen continued to grow revenue organically across all major markets.
In the fourth quarter of fiscal 2012, net income increased to $50.6 million from $18.1 million in the prior year period, and Adjusted Net Income increased to $62.2 million from $50.5 million in the prior year period. Diluted Earnings per Share (EPS) and Adjusted Diluted EPS in the fourth quarter of fiscal 2012 were $0.36 and $0.44, respectively, compared with $0.13 and $0.36 in the prior year period.
In fiscal 2012, net income increased to $240.0 million from $84.7 million in fiscal 2011, and Adjusted Net Income increased to $227.2 million from $157.5 million in fiscal 2011. Diluted EPS and Adjusted Diluted EPS in fiscal 2012 were $1.70 and $1.61, respectively, compared with $0.66 and $1.24 in fiscal 2011.
On May 29, 2012, Booz Allen’s Board of Directors authorized and declared a cash dividend in the amount of $0.09 per share, the second regular quarterly cash dividend issued by the Company. Additionally, the Board declared a special cash dividend of $1.50 per share. Both the quarterly and special dividend are payable on June 29, 2012, to stockholders of record on June 11, 2012.
Ralph W. Shrader, Booz Allen’s Chairman, Chief Executive Officer, and President, said “We continued to grow revenue organically in all of our major government markets – defense, intelligence, and civil – and we expanded our commercial and international business this year following the expiration of the non-compete agreement with our spin-off company on July 31, 2011. We grew net income, EBITDA, and earnings per share, demonstrating our ability to manage our business well despite a challenging market environment.”
“Booz Allen is committed to being essential and differentiated. We believe our success comes from superbly serving our clients in their core missions, bringing innovative thinking to bear on client problems and opportunities, and developing the solutions to help clients deliver more and better services to citizens and customers. In areas ranging from cyber and cloud-based services to health, finance, infrastructure, and intelligence-surveillance-reconnaissance, we are seeing continued demand for our services.”
“We are dedicated to delivering value to our current and future stockholders. This is evidenced by our margin improvements and strong cash flow — and by the regular and special dividends just declared by our Board. We will continue to look at the full range of opportunities to strengthen Booz Allen’s strategic position and to evaluate our use of cash,” Shrader said.