Aerospace and defense keyed gains at SM & A; Corp. in the first quarter.
The Newport Beach-based consultant said Wednesday that its sales rose 10% in the period to $20.2 million. SM & A;’s operating income in the period ended March 31 rose 24% to $3.8 million.
In February, SM & A; officials said they expected to post sales of $18 million to $19 million in the first quarter, but raised expectations late last month.
SM & A; is a consultancy that helps businesses in the defense, homeland security, aerospace, information technology, architecture and engineering sectors win government and commercial contracts.
“We are very pleased with the progress we’ve made in returning to positive sequential quarterly revenue growth since last summer,” said Steven Myers, SM & A;’s chairman and chief executive.
Last month the company said Bennett C. Beaudry resigned as president and chief operating officer of the company. The 47-year-old executive, who’s been with SM & A; since 2000, said he planned to pursue other interests, according to a company release.
SM & A; said other company executives would handle Beaudry’s responsibilities until a replacement is named.
Shares of SM & A; were up 6% to $9 in after-hours trading Wednesday. The company announced its results after the close of regular trading.
