Stanley 2Q profit up 35 percent on Army contracts

posted: 26 DAYS 8 HOURS AGO

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ARLINGTON, Va. -Stanley Inc. said Thursday its fiscal 2010 second-quarter profit rose 35 percent as new U.S. Army contracts boosted the information technology company's revenue.

A 14 percent revenue jump also led the company to increase its full-year guidance above Wall Street expectations.

For the three months ended Sept. 25, net income climbed to $11.8 million, or 49 cents per share, compared with $8.7 million, or 37 cents, in the year-earlier period.

Analysts polled by Thomson Reuters expected, on average, earnings per share of 42 cents. Revenue climbed to $217.1 million from $191.1 million, also better than the $209.1 million Wall Street expected.

Looking ahead, Stanley now expects earnings per share for the 12 months ending next March in a range of $1.85 to $1.89, up from its previous guidance of $1.68 to $1.74.

Analysts polled by Thomson Reuters expect, on average, $1.72 per share.

Stanley also reiterated its revenue forecast for the year of $845 million to $875 million, and issued initial third-quarter guidance of earnings per share between 46 cents and 48 cents on revenue of $212 million to $219 million.

On average, analysts have forecast quarterly profit of 42 cents per share on revenue of $211.1 million, and full-year sales of $847.7 million.

Shares rose in after-market trading by $1.19, or 4.6 percent, to $26.98. In the last 12 months, the stock has ranged from $23.79 to $36.60.

2009-10-29 18:07:16