Booz Allen fiscal 2Q net income falls 39 percent

Associated Press

MCLEAN, Va. (AP) — Booz Allen, the management and technology consulting firm, said Wednesday that its fiscal second-quarter net income fell 39 percent as billable expenses fell. But the company reaffirmed its full-year outlook and shares rose in afternoon trading.

The company reported net income of $46.1 million, or 27 cents per share, in the quarter ending Sept. 30. That's down from $75.3 million, or 53 cents per share, in the same quarter a year ago.

The results are below the 36 cents per share analysts expected, according to FactSet.

Revenue fell 3 percent to $1.39 billion from $1.43 billion last year. Analysts expected revenue of $1.4 billion, according to FactSet.

The McLean, Va.-based company reaffirmed its outlook for fiscal year 2013. It expects to earn between $1.60 per share to $1.70 per share. Analysts expected earnings of $1.58 per share, according to FactSet.

Shares of Booz Allen Hamilton Holding Corp. rose 82 cents, or 6.5 percent, to $13.37. They are down 30 percent from a 52-week high of $19.23 set in mid-August. They fell as low as $11.85 in early September.