Booz Allen Buoyed by Backlog

Booz Allen Hamilton Holding Corp. posted better-than-expected results in its latest quarter on higher client demand, as the government consulting firm reported solid growth in its backlog.

The McLean, Va., firm's top line mostly relies on contracts from the U.S. government. Its total backlog climbed 29.8% to $12 billion at the end of June. The company said the improvement was due to greater investments in bid and proposal activity.

During its June quarter, Booz Allen's top line benefited from increased client demand and more billable expenses. Those factors, in addition to a lower effective tax rate, helped the bottom line jump 5.4%.

Over all, Booz Allen posted a profit of $67.8 million, or 45 cents a share, compared with $64.3 million, or 43 cents a share, a year ago. Excluding certain items, the company earned 46 cents a share.

Revenue rose 5.3% to $1.42 billion. Analysts, polled by Thomson Reuters, expected 44 cents a share on $1.39 billion.

For the current year ending in March, Booz Allen backed its projected revenue forecast of 2% to 5% growth. The company also said it anticipates adjusted per-share earnings between $1.65 and $1.75.

Shares of Booz Allen Hamilton have risen 23% in the past 12 months and were inactive premarket.

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

(END) Dow Jones Newswires

July 27, 2016 09:25 ET (13:25 GMT)

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