UPDATE: Booz Allen Hamilton Q3 Earnings Beat Views

reported stronger-than-expected results for the third quarter and raised its quarterly dividend to $0.13 per share from $0.11 per share. The McLean, Virginia-based company reported a quarterly profit of $52.8 million, or $0.35 per share, versus a year-ago profit of $47.2 million, or $0.31 per share. Excluding items, the company earned $0.36 per share. Its revenue gained 2.5% to $1.3 billion. However, analysts were projecting earnings of $0.34 per share on revenue of $1.27 billion. Adjusted EBITDA rose to $120.4 million from $115.0 million. Booz Allen's operating costs rose 2% to $1.2 billion. Total head count declined 1.7% y/y. As of December 31, 2014, total backlog shrank to $10.1 billion, versus $10.4 billion as of December 31, 2013. The company also announced an increase in buyback plan to $180 million. “We have an outstanding team that continues to execute very well, consistent with our long term strategy,” said Horacio Rozanski, Booz Allen's President and Chief Executive Officer. “Our financial and operational performance in the third quarter of fiscal 2015 was strong, with revenue growth and continued margin improvement when compared to the challenging quarter of a year ago. We saw solid growth in funded and unfunded backlog, which reflects a nascent recovery in the government contracting environment, along with a one-percent sequential increase in consulting staff headcount.” For fiscal year 2015, Booz Allen now projects revenue to fall by a low-single-digit percentage, versus earlier forecast for a mid-single-digit percentage decline. The company now expects earnings of $1.58 to $1.62 per share, versus earlier outlook of $1.54 to $1.62 per share. Analysts projected earnings of $1.63 per share. Booz Allen shares rose 0.65% to close at $29.62 yesterday.