Booz Allen Hamilton Profit, Sales Climb as Backlog Reaches Record

Booz Allen Hamilton Holding Corp.'s profit rose and revenue grew in its latest quarter on increased client demand, as the government consulting firm said its backlog reached a record high for the end of its fiscal year.

For the current year ending in March, Booz Allen projected revenue to increase in the range of 2% to 5%. Analysts polled by Thomson Reuters expected 4% growth. The company also said it anticipates adjusted per-share earnings between $1.65 and $1.75, as analysts expected $1.72.

The McLean, Va.-based firm mostly relies on contracts from the U.S. government to grow its top line. Its total backlog climbed 26% to $11.8 billion at the end of March, a record high for the end of its fiscal year. The company said the improvement was due to greater investments in bid and proposal activity amid a more stable government contracting environment.

During its fiscal fourth quarter, Booz Allen named Lloyd W. Howell Jr. as chief financial officer, replacing Kevin Cook, who announced his retirement after more than two decades at the company.

Over all, Booz Allen posted a profit of $65.5 million, or 43 cents a share, compared with $43.4 million, or 29 cents a share, a year ago. Excluding certain items, the company earned 41 cents a share.

Revenue rose 6.1% to $1.42 billion. Analysts, polled by Thomson Reuters, expected 41 cents a share on $1.37 billion.

Shares of Booz Allen Hamilton have risen 4% in the past three months and were inactive premarket.

Write to Joshua Jamerson at joshua.jamerson@wsj.com

(END) Dow Jones Newswires

May 18, 2016 08:15 ET (12:15 GMT)

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