Booz Allen Hamilton (BAH 37.84, +1.89) has spiked 5.3% after beating fourth quarter expectations and issuing upbeat revenue guidance for the full year. Today's advance has lifted the stock near its all-time high of $38.54 that was recorded in late November.
The management consulting company reported above-consensus fourth quarter earnings of $0.45 per share on an 11.1% year-over-year increase in revenue to $1.58 billion, which was also ahead of expectations.
Excluding billable expenses, revenue increased 9.2% year-over-year to $1.10 billion. Operating income grew 23.4% year-over-year to $130.20 million.
Book-to-bill ratio in the fourth quarter increased to 1.04 from 0.82, representing the highest fourth quarter level since the company became public in 2010. Annual book-to-bill ratio hit 1.31.
The company's headcount increased by 717 year-over-year to 23,300. This included the addition of Aquilent employees after the company was acquired by Booz Allen Hamilton in January. Most of the new employees were added to the company's Consulting Staff, which increased by 703 year-over-year to 21,032.
Total backlog increased by 15.1% year-over-year to $13.59 billion. Funded backlog grew by 5.3% to $2.82 billion while unfunded backlog increased by 21.7% year-over-year to $3.10 billion. Priced Options backlog grew by 16.4% to $7.68 billion.
Looking ahead, Booz Allen Hamilton expects that full-year earnings will be between $1.79 per share and $1.89 per share while revenue is expected between $6.03 billion and $6.20 billion. The company's revenue guidance range is ahead of current market estimates.