Booz Allen Hamilton Holding Corporation, the parent company of management and technology consulting firm Booz Allen Hamilton, today announced revenue in the second quarter of fiscal 2013 was $1.39 billion, compared with $1.43 billion in the prior year period, a decrease of 2.9 percent.
|The decline in revenue, which was consistent with the company's forecast, was primarily due to a reduction in billable expenses and a lower ratio of indirect costs to direct labor compared with the prior year period.
|Reductions in billable expenses and indirect costs have a direct correlation to the amount of revenue recognized on cost reimbursable contracts. Booz Allen's fiscal year runs from April 1 to March 31, with the second quarter of fiscal 2013 ending Sept. 30, 2012. Revenue for the first six months was $2.82 billion compared with $2.88 billion for the prior year period, a decrease of 1.9%.
