SRA reports earnings up more than 30 percent
- By John Moore
- Aug 01, 2005
SRA International's revenues and profits are up compared to their performance last year, according to the company's financial statements.
The company ended its fourth quarter of fiscal 2005 on June 30 with revenues of $241.1 million and net income of $15.9 million. In the fourth quarter of fiscal 2004, revenue was $180.9 million and net income was $11.9 million, making the increases 33 percent and 34 percent respectively.
Full year revenue increased 43 percent to $881.8 million from $615.8 million in fiscal 2004. The company said net income for the year increased 48 percent to $57.7 million from $38.9 million in fiscal 2004.
Company officials attributed the gains to several key contract wins, including a recompete of the Environmental Protection Agency’s Information Technology Solutions – Business Information Strategic Support worth up to $148 million.
Renny DiPentima, SRA’s president and chief executive officer, cited two other key wins during the quarter: a $97 million contract with the Federal Aviation Administration’s Enterprise Service Center and an $80 million task order from the Department of Justice’s Office of Justice Programs.
DiPentima said the company's pipeline of future business is strong at $8.3 billion, and the company's acquisition of Galaxy Scientific, completed in July, adds another $1.5 billion in opportunities.