Thursday, February 01, 2024
DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,300 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Results. Revenue in the first quarter was $97.9 million versus $72.7 million last year, but lower than our estimate of $101 million. Net income was at $2.2 million, or $0.15 per diluted share, compared to $1.5 million, or $0.11, in the prior year. EBITDA for the quarter was $11.1 million compared to $6.3 million last year. We had estimated EBITDA of $11.3 million, adjusted EBITDA of $11.8 million, and EPS of $0.12.
Other Key Indicators. DLH generated $5.1 million in operating cash for the quarter, with cash being at $0.1 million as of December 31, 2023. The Company backlog for the quarter was $653.5 million, including funded backlog of approximately $132.3 million and unfunded backlog of $521.2 million, versus $704.8 million in the prior year.
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