Northern, WI 5/30/12 (StreetBeat) -- McLean-based Booz Allen Hamilton Holding Corp. (NYSE: BAH) reported a surge in profits in its latest quarter as revenue rose. Stock in the company rose on news of a special cash dividend.
Booz Allen Hamilton Holding, the parent company of management and technology consulting firm Booz Allen Hamilton Inc., reported net income of $50.1 million, or 36 cents per diluted share, in the company's fiscal 2012 fourth quarter ended March 31. That compares with net income of $18.1 million, or 13 cents per diluted share, in the year ago period.
Revenue in the quarter rose 3 percent to $1.54 billion, compared with $1.49 billion a year ago.
For the entire fiscal year 2012, Booz Allen reported net income of $240 million, or $1.70 per diluted share. That compares with $84.7 million, or 66 cents per diluted, in fiscal 2011. Revenue in fiscal 2012 rose nearly 5 percent to $5.86 billion, from $5.59 billion in the prior year.
Booz Allen reported a backlog of $10.8 billion as of March 31, down from $10.9 billion a year ago.
Booz Allen also said in a statement announcing its earnings Wednesday that it had declared a regular quarterly cash dividend in the amount of 9 cents per share and a special cash dividend of $1.50 per share. Both the quarterly and special dividend are payable on June 29, 2012, to stockholders of record on June 11, 2012.
Shares of Booz Allen Hamilton (NYSE: BAH), which closed Tuesday at $14.88, rose as much as 20 percent to $18.00 in pre-open trading Wednesday, according to MarketWatch.com.
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