Booz Allen Hamilton (BAH 43.38, +1.59, +3.80%) has climbed to a fresh record high after reporting mixed quarterly results.
The technology consulting company, which offers services to
government agencies, reported above-consensus fourth quarter earnings of $0.52/share on a 3.4% year/year increase in revenue to $1.64 bln, which was shy of
With its fourth quarter report, Booz Allen Hamilton completed its strongest year in terms of revenue and adjusted EBITDA since the company's initial public offering in 2010. Furthermore, this was the third consecutive year of industry-leading organic revenue growth.
Headcount grew 5.7% year/year while backlog grew 17.9% year/year to $16 bln, which was a record since the company's IPO. Booz Allen Hamilton ended the year with a book-to-bill ratio of 1.39. Book-to-bill ratio for the fourth quarter was reported at 0.60, down from 1.04 one year ago.
Long-term liabilities declined 4.9% year/year to $24.26 mln.
Free cash flow improved 40.8% year/year to $106.85 mln.
Looking ahead, Booz Allen Hamilton expects that earnings for the full year will be between $2.35/share and $2.50/share, which encompasses current market expectations. Revenue for the full year is expected between $6.54 bln and $6.67 bln, which also envelops current market estimates.