Booz Allen Hamilton Holding Corporation (BAH) has reported an 11.77 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $62.83 million, or $0.41 a share in the quarter, compared with $56.22 million, or $0.37 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $69.20 million, or $0.46 a share compared with $57.64 million or $0.39 a share, a year ago. Revenue during the quarter grew 5.50 percent to $1,394.85 million from $1,322.15 million in the previous year period. Gross margin for the quarter expanded 18 basis points over the previous year period to 52.82 percent. Total expenses were 91.56 percent of quarterly revenues, down from 91.77 percent for the same period last year. This has led to an improvement of 21 basis points in operating margin to 8.44 percent.
Operating income for the quarter was $117.66 million, compared with $108.82 million in the previous year period.
However, the adjusted operating income for the quarter stood at $122 million compared to $109.87 million in the prior year period. At the same time, adjusted operating margin improved 44 basis points in the quarter to 8.75 percent from 8.31 percent in the last year period.
"Our strong second quarter financial results reinforce that Booz Allen is on a steady path to accelerated growth," said Horacio Rozanski, president and chief executive officer. "Both new and long-standing clients recognize that our people bring uncommon solutions by applying the full breadth of our strengths in consulting, technology, and mission knowledge."
For fiscal year 2017, Booz Allen Hamilton Holding Corporation forecasts revenue to grow in the range of 3 percent to 5 percent. The company expects diluted earnings per share to be in the range of $1.63 to $1.70. It company expects diluted earnings per share to be in the range of $1.68 to $1.75 on adjusted basis.
Operating cash flow improves significantly
Booz Allen Hamilton Holding Corporation has generated cash of $217.08 million from operating activities during the first half, up 144.77 percent or $128.40 million, when compared with the last year period. The company has spent $15.34 million cash to meet investing activities during the first six months as against cash outgo of $30.56 million in the last year period.
The company has spent $82.04 million cash to carry out financing activities during the first six months as against cash outgo of $77.94 million in the last year period.
Cash and cash equivalents stood at $307.22 million as on Sep. 30, 2016, up 63.94 percent or $119.82 million from $187.40 million on Sep. 30, 2015.
Working capital increases
Booz Allen Hamilton Holding Corporation has recorded an increase in the working capital over the last year. It stood at $381.67 million as at Sep. 30, 2016, up 6.19 percent or $22.24 million from $359.42 million on Sep. 30, 2015. Current ratio was at 1.43 as on Sep. 30, 2016, down from 1.46 on Sep. 30, 2015.
Days sales outstanding went down to 57 days for the quarter compared with 60 days for the same period last year.
Debt comes down marginally
Booz Allen Hamilton Holding Corporation has recorded a decline in total debt over the last one year. It stood at $1,563.12 million as on Sep. 30, 2016, down 2.43 percent or $38.85 million from $1,601.97 million on Sep. 30, 2015. Total debt was 50.53 percent of total assets as on Sep. 30, 2016, compared with 55.73 percent on Sep. 30, 2015. Debt to equity ratio was at 3.03 as on Sep. 30, 2016, down from 5.96 as on Sep. 30, 2015. Interest coverage ratio improved to 7.98 for the quarter from 6.15 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
