Stanley 3rd-quarter results top analyst estimates

Stanley Inc. on Thursday said its net income jumped in its fiscal third quarter on increased government contracts.

The company, which provides systems and professional service support to the federal government, said its net income grew to $9.7 million, or 41 cents per share, versus $6.8 million, or 29 cents per share, in the same quarter last year.

Stanley's revenue grew 38 percent to $203.6 million from $147.1 million.

Analysts polled by Thomson Reuters expected the company to earn 36 cents per share on revenue of $198.7 million.

"Stanley continued to deliver outstanding results in the third quarter of fiscal 2009, with record revenues and earnings and continued strong margin performance," Phil Nolan, Stanley's chairman, president and chief executive said in a statement. "New contract wins and expansion of existing contracts in the third quarter give us confidence that we will finish the current fiscal year in strong fashion and provide a solid platform for the future."

Shares of Stanley fell 94 cents, or 2.8 percent, to close at $32.18.