Stanley posts 36 percent jump in 4th-qtr profit

Government information technology services provider Stanley Inc. said Wednesday said its fiscal fourth-quarter profit jumped 36 percent, fueled by both an acquisition and growth from several new contracts.

For the three months ended March 31, net income rose to $10.5 million, or 44 cents per share, from $7.7 million, or 33 cents per share in the prior-year period. Revenue rose 22 percent to $212.4 million from $173.5 million last year.

Analysts polled by Thomson Reuters, on average, expected profit of 42 cents per share, on revenue of $211.6 million.

The company said contract backlog on March 31 was $2 billion, up from $1.8 billion a year earlier.

The growth reflected several new contracts with the Army, intelligence community and General Services Administration, Stanley said. It was also helped by the acquisition of Oberon Associates last July.

For the year, profit rose 42 percent to $37.2 million, or $1.56 per share, on revenue of $779.7 million. That compared with profit of $26.2 million, or $1.12 per share, on revenue of $604.3 million the prior year.

Stanley shares closed Wednesday trading up 36 cents at $26.44.