Research Desk Line-up: Cartesian Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 25, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Booz Allen Hamilton Holding Corp. (NYSE: BAH), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=BAH, following the Company's disclosure of its first quarter fiscal 2018 financial results on August 07, 2017. The defense contractor exceeded earnings expectations and also updated its EPS and adjusted EPS guidance for FY18. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Management Services industry. Pro-TD has currently selected Cartesian, Inc. (NASDAQ: CRTN) for due-diligence and potential coverage as the Company reported on August 14, 2017, its financial results for Q2 2017 which ended on July 01, 2017. Register for a free membership today, and be among the early birds that get access to our report on Cartesian when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on BAH; also brushing on CRTN. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

For the first quarter fiscal 2018, Booz Allen Hamilton reported revenue of $1.49 billion, up 5% compared to revenue of $1.42 billion. The Company's revenue, excluding billable expenses grew 5.2% to $1.04 billion. Booz Allen Hamilton's revenue fell short of analysts' expectations of $1.53 billion.

During Q1 FY18, Booz Allen Hamilton's operating income advanced 7.9% to $139.5 million, while adjusted operating income increased 6.9% to $139.5 million, both growing primarily due to revenue growth. For Q1 FY18, Booz Allen Hamilton's EBITDA and adjusted EBITDA each grew 7.7% to $155 million on a y-o-y basis. The Company's adjusted EBITDA margin was 10.4% compared to 10.1% for the year ago same period. Driven by a modest decline in billable expense as a percentage of revenue, higher billability, and decreased spending relative to historic seasonal norms.

For Q1 FY18, Booz Allen Hamilton's net income advanced 17.3% to $79.54 million compared to net income of $67.82 million in Q1 FY17. The Company's diluted earnings grew to $0.53 per share from $0.45 per share in the year ago corresponding period. Booz Allen Hamilton's adjusted net income totaled $79.9 million, reflecting an increase of 15.4%, while adjusted diluted earnings came in at $0.53 per share, up from $0.46 per share in Q1 FY17. The improvement in the Company's earnings was attributed to revenue growth as well as a decrease in income tax expense associated with the adoption of a new accounting standard, ASU 2016-09. Booz Allen Hamilton?s earnings surpassed Wall Street's forecasts of $0.47 per share.

Backlog

As of June 30, 2017, Booz Allen Hamilton's total backlog was a record $14.1 billion compared to $12.0 billion as of June 30, 2016; an increase of 17%, reflecting continued growth in unfunded backlog and priced options percent. The Company's book-to-bill ratio was 1.32, the best first quarter result since the Company's initial public offering.

Booz Allen Hamilton's headcount increased by 150 on a q-o-q basis, while it added headcount of 930 on a y-o-y basis.

Cash Matters

Booz Allen Hamilton declared a regular quarterly dividend of $0.17 per share, which is payable on August 31, 2017, to stockholders of record on August 14, 2017.

During Q1 FY18, Booz Allen Hamilton's net cash provided by operating activities was $4.0 million compared to $11.6 million in the prior year's same period; the decline was attributed to a one-time tax payment of $13.6 million that was a condition for the Company's purchase of Aquilent, and an increase in accounts receivable. Free cash flow for the reported quarter was $7.5 million compared to free cash flow generation of $5.5 million in the prior year's same period.

Financial Outlook

Booz Allen Hamilton updated its fiscal year 2018 diluted and adjusted diluted EPS guidance. The change solely reflects the impact of a $6.9 million excess tax benefit attributable to the adoption of ASU 2016-09, the new accounting standard related to share-based compensation.

The Company reaffirmed its revenue guidance. Booz Allen Hamilton is forecasting revenue growth in the 4% to 7% range, diluted EPS in the band of $1.80 - $1.90, and adjusted diluted EPS in the range of $1.83 - $1.93. The Company's FY18 earnings estimates are based on estimated average diluted shares outstanding of approximately 149.5 million shares and assume an effective tax rate in the range of 37% to 38%.

Stock Performance

On Thursday, August 24, 2017, the stock closed the trading session at $34.00, declining 1.11% from its previous closing price of $34.38. A total volume of 825.24 thousand shares have exchanged hands. Booz Allen Hamilton's stock price surged 11.51% in the previous twelve months. The stock is trading at a PE ratio of 19.47 and has a dividend yield of 2.00%. The stock currently has a market cap of $5.03 billion.

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