Booz Allen Hamilton Holding Corp. (BAH) reported that net income for the fourth quarter of fiscal 2013 increased to $54.8 million from $50.6 million in the prior year period, mainly due to growth in operating income, partially offset by the increased interest expense from its refinancing transaction. Earnings per share increased to $0.37 per share from $0.36 per share in the prior year period.
Adjusted Net Income decreased to $58.2 million from $62.2 million in the prior year period. The decline was primarily driven by the increased interest expense of approximately $5.1 million related to the refinancing transaction associated with the special dividend declared in July 2012. Adjusted earnings per share declined to $0.40 per share from $0.44 per share in the prior year period. Analysts polled by Thomson Reuters expected the company to report earnings of $0.37 per share for the quarter. Analysts' estimates typically exclude special items.
Adjusted Operating Income for the quarter increased to $116.9 million from $115.4 million in the prior year period, and operating income increased to $112.9 million from $97.5 million in the prior year period. The improvement in Adjusted Operating Income and operating income were driven by savings from decreases in senior staff compensation costs and infrastructure costs as a result of the January 2012 cost reduction actions, improved productivity of consulting staff, and the recovery of additional incentive compensation and other allowable indirect expenses.
Revenue in the fourth quarter of fiscal 2013 rose to $1.55 billion, from $1.54 billion in the prior year period, an increase of 0.3 percent. Seven analysts had consensus revenue estimate of $1.51 billion for the quarter. The increase in revenue in the fourth quarter of fiscal 2013 compared with the prior year period resulted from the addition of $78.2 million as a result of our purchase of DSES, improved productivity of consulting staff, revenue associated with the recovery of additional incentive compensation and other allowable indirect expenses, and a modest increase in billable expenses over the prior year period.
The company announced a regular cash dividend of $0.10 per share, an 11 percent increase in the per share quarterly dividend amount, which will be payable on June 28, 2013 to stockholders of record on June 10, 2013.
For fiscal 2014, the company expects a low single digit decline in revenue. At the bottom line, for the full year, the company forecasts earnings per share to be in the range of $1.47 to $1.57, and Adjusted earnings per share to be on the order of $1.55 to $1.65 per share. Analysts expect the company to report earnings of $1.50 per share on revenues of $5.75 billion for fiscal 2014.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.