Booz Allen Hamilton Misses Q4 Views
Booz Allen Hamilton Holding Corporation (NYSE: BAH) reported weaker-than-expected results for the fiscal fourth quarter on Thursday.
The McLean, Virginia-based company posted quarterly net income of $43.4 million, or $0.29 per share, compared to $46.9 million, or $0.30 per share, in the year-ago period. Excluding items, the company's adjusted earnings slipped to $0.30 per share from $0.33 per share.
Its revenue slipped 4.1 percent year-over-year to $1.34 billion. However, analysts were expecting earnings of $0.33 per share on revenue of $1.4 billion.
The average estimate among 4 Estimize users was for earnings of $0.35 per share and revenue of $1.42 billion.
Its adjusted operating income rose to $93.6 million in the quarter, versus $91.4 million in the year-ago period.
Adjusted EBITDA climbed to $108.0 million, compared to $107.2 million.
"Booz Allen is proud to once again deliver on our guidance, even as the government contracting market remained very competitive. These solid financial results truly reflect the strength of our leadership team and the high quality of our people," said Horacio Rozanski, President and Chief Executive Officer.
For the full year, Booz Allen projects adjusted earnings of $1.60 to $1.70 per share.
Booz Allen shares fell 0.52 percent to close at $28.50 yesterday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.