Booz Allen Hamilton (NYSE: BAH) — one of 30 companies listed in Executive Mosaic’s GovCon Index — posted a revenue increase for its 2016 fiscal year for the first time in three such periods that have seen flat or contracting sales.
The McLean, Virginia-based government consulting firm said sales in March 31-to-April 1 period — its fiscal period — grew 2.46 percent to $5.4 billion versus analyst expectations of $5.35 billion with fourth quarter sales up 5.97 percent to $1.42 billion.
Full-year and fourth quarter earnings respectively came in at $1.65 per share and 41 cents EPS with both figures in-line against Wall Street’s forecasts, while 12-month profit increased 2.58 percent to $246.45 million and January-March net income was up 39.16 percent to $61.29 million.
Total backlog as of March 31 was a $11.81 billion record to post a 26.17-percent increase from the same time last year.
Booz Allen forecasts FY 2017 sales to register growth of 2-to-5 percent into the range of around $5.46 billion-to-$5.62 billion with the $5.54 billion midpoint short of Wall Street’s expectation of $5.57 billion.
The firm also expects earnings to fall in the $1.65-to-$1.75 per share range with the $1.70 midpoint just shy of the consensus analyst outlook for $1.72 EPS.
As of Tuesday’s close, shares in Booz Allen have declined 10.83 percent since the start of the year and are down 2.89 percent over 12 months.