SI earnings rose
- By Michael Hardy
- Apr 27, 2004
Systems integrator SI International Inc. announced first quarter revenue up 35 percent year-over-year. Net income gained 58 percent, according to company officials.
The company posted revenue of $56 million, compared to the year-ago quarter's $41.3 million. Net earnings were $2.4 million, over 2003's $1.5 million. The federal government accounted for almost all of the company's revenue, $53.8 million, according to officials.
SI officials have focused the company on federal information technology modernization, defense transformation, homeland defense and mission-critical outsourcing.
"We believe our strong financial results demonstrate that we are playing a leading role in the transformation of federal government information technology, and provide a solid foundation for meeting our financial goals for fiscal year 2004," said Ray Oleson, SI International's chairman and chief executive officer, in a statement.
"Since the beginning of fiscal year 2004, we have won all our recompetes," he added.
One of those, an $800 million deal related to the Air Force's command, control, communications, computer, intelligence, IT, surveillance, and reconnaissance engineering and technical support contract, was the largest single contract awarded in March, according to market research firm Input. That award has been protested, however.
The company reported a backlog of $724 million, officials said.