Reuters: Regulatory News: UPDATE 1-Booz Allen Hamilton cuts H1 revenue growth forecast

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UPDATE 1-Booz Allen Hamilton cuts H1 revenue growth forecast Jul 23rd 2012, 13:24 Mon Jul 23, 2012 9:24am EDT July 23 (Reuters) - Government consultancy firm Booz Allen Hamilton Holding Corp cut its revenue growth forecast for the first half, citing a decrease in expenses that the company bills to customers. A decrease in billable expenses reduces revenue under cost reimbursable contracts. Booz Allen, which provides management and technology consulting in defense, intelligence and civil markets, said it expects revenue growth to be flat to down low-single digits, below its prior forecast of flat to up low-single digits. The company said earlier this month that it was exploring a proposal to refinance its debt that could result in a special dividend of about $1 billion to its shareholders. The company's shares, which have gained about 30 percent in value since touching a year-low in September, were down 3 percent at $16.69 in pre-market trade. They closed at $17.25 on the New York Stock Exchange on Friday.

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