DLH Holdings (NASDAQ: DLHC) reported Q1 EPS of $0.04, $0.02 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $30.2 million versus the consensus estimate of $28.2 million.

Highlights

• First quarter revenue of $30.2 million, up 15.7% over the first quarter of fiscal 2017
• Gross margin of 21.6% for the first quarter versus 22.3% in the prior- year period
• Recorded a one-time charge of $3.4 million, or $(0.28) per diluted share, for revaluation of deferred tax assets due to the enactment of the 2017 Tax Act on December 22, 2017
• Diluted earnings per share of $(0.24) for the quarter
• The Company reported a net loss for the first quarter of 2018 of approximately $2.9 million, or $(0.24) per diluted share, versus net income of $0.3 million, or $0.03 per diluted share, in the prior-year period.
• DLH recorded a $3.7 million provision for tax expense during the quarter, versus $0.2 million in fiscal 2017.
• Net income in the fiscal 2018 first quarter included a one-time $3.4 million charge for the revaluation of the Company's net deferred tax assets due to the Tax Cuts and Jobs Act ("Tax Act") that was enacted into law on December 22, 2017.
• On a non-GAAP basis, excluding the estimated impact of the Tax Act, net income in the first quarter of 2018 was $0.5 million, or $0.04 per diluted share.

For earnings history and earnings-related data on DLH Holdings (DLHC) click here.