UPDATE: Booz Allen Posts Upbeat FQ1 Profit

Booz Allen Hamilton Holding

reported a 14% rise in its fiscal first-quarter earnings. Booz Allen's quarterly profit surged to $70.3 million, or $0.48 per share, from $61.9 million, or $0.43 per share, in the year-ago period. Excluding one-time items, its earnings rose to $0.50 per share from $0.46 per share. Its revenue dropped 0.3% to $1.43 billion. However, analysts were expecting earnings of $0.38 per share on revenue of $1.41 billion. Booz Allen's operating margin rose to 9.7% from 8%. Booz Allen shares closed at $19.32 yesterday.