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.  

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“Despite ongoing continuing resolutions and federal budget uncertainties in Washington, DLH is well positioned and aligned with key agencies such as the Department of Health and Human Services, Veterans Health Administration, and Defense Health Agency,” said President and CEO Zach Parker. “Early indications are that each of these organizations enjoys strong advocacy in Congress due to their mission-critical operations.”

Share price and market cap

Shares in DLH rose 4.83% to $6.30 as of 11:44 a.m. Eastern time. The company had a market cap of $74.86 million.