0919 ET - Booz Allen Hamilton logs lower revenue in F2Q, largely due to a nearly 11% decrease in billable expenses from last year, CFO Troy Lahr says on a call with analysts. From an end market perspective, the company's national security business grew 1% from a year ago, reflecting strong customer demand. "We have a significant backlog of funded work to execute on and have aggressively scaled up our hiring," Lahr says. Meanwhile, Booz Allen's civil business declined 15% year-over-year, as contracts in the business are now generally smaller in size and scope, and there have been fewer new program starts. "Looking ahead for the rest of the year, pressure in the civil business is easing, and we now expect revenue to be flat to slightly down sequentially for the third and fourth quarter as some of the first-half dynamics gradually ease," Lahr says.