McLean-based Booz Allen Hamilton, the largest government IT contractor and one of the largest employers in the DC region, ended its most recent quarter with a backlog of $28.6 billion in contracted work, and grew its head count by another 2.6%.
McLean, Virginia-based Booz Allen Hamilton, the largest government IT contractor and one of the largest employers in the DC region, ended its most recent quarter with a backlog of $28.6 billion in contracted work, and grew its head count by another 2.6%.
Booz Allen had $2.2 billion in revenue last quarter, its fiscal year 2023 first quarter, 13.1% more than a year earlier and $138.3 million in net income, compared to $92.1 million in the same quarter a year earlier.
The company ended the quarter with an employee count that was 733 higher than a year earlier. Booz Allen has about 18,000 employees in the DC region, making it the seventh-largest DC area employer, according to Washington Business Journal data.
Booz Allen also reaffirmed its forecast for the fiscal year, with revenue growth of as much as 9%.
Booz Allen recently established a $100 million venture capital fund to invest in early-stage technology companies, specifically in artificial intelligence and cybersecurity, in addition to its own recent acquisitions.
Recent acquisitions include artificial intelligence startups Synthetaic, Latent AI and Reveal Technology.
In 2021, it made one of its largest acquisitions, Herndon, Virginia-based IT modernization contractor Liberty IT Solutions, in a deal valued at $725 million.
Last month, the Department of Justice filed an antitrust lawsuit to block Booz Allen’s planned acquisition of Reston, Virginia-based cybersecurity company EverWatch. They are the only two companies bidding on a large NSA intelligence contract.
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