DLH Holdings Corp. (NASD: DLHC), an Atlanta-based contractor to the federal government that provides healthcare staffing, reported revenue rose 15.7% in its fiscal first quarter ended Dec. 31. The company attributed the top-line growth to the expansion of services on existing contract vehicles and contribution from new contract awards.
However, bottom-line results were impacted by a one-time charge of $3.4 million for revaluation of deferred tax assets due to the enactment of the 2017 Tax Act on Dec. 22. DLH recorded a $3.7 million provision for tax expense during the quarter, compared to $200,000 in fiscal 2017.
(US$ thousands) Q1 2018 Q1 2017