Booz Allen Hamilton (NYSE: BAH) reported Q1 EPS of $0.50, $0.08 better than the analyst estimate of $0.42. Revenue for the quarter came in at $1.32 billion versus the consensus estimate of $1.32 billion.

The Company authorized and declared a special dividend of $1.00 per share and a regular quarterly cash dividend of $0.11 per share, payable on August 29, 2014, to stockholders of record on August 11, 2014.

Ralph W. Shrader, Booz Allen’s Chairman & Chief Executive Officer, said, “All in all, we are pleased with our position at the end of the fiscal 2015 first quarter – while our revenue decrease during the quarter was due to a climate of continued cautionary spending by the federal government, our staff productivity remains high and profitability on contracts and task orders remain strong. The procurement climate has been improving and we are seeing a continuation in the high level of proposal activity that began in April with a pickup in contract awards, as reflected in a seasonally strong book-to-bill and an increase in funded backlog. We are also seeing promising signals for contract awards in our fiscal 2015 second quarter which coincides with the end of the government’s fiscal year.

“Looking further ahead, we continue to invest in areas consistent with our long-term growth strategy – in innovation, engineering and systems delivery, advanced analytics, and cyber – and have brought to market several new products and service offerings that are gaining traction. Growth in our commercial and international markets is accelerating, and we have the opportunity to invest in a significant expansion in selected countries in the Middle East, adding senior leadership and staff capacity in that region in anticipation of further opportunities there,” Shrader said.

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