SRA reports growth spurt
- By John Moore
- Feb 02, 2006
SRA International posted a 45 percent gain in revenue for the quarter that ended Dec. 31, 2005, and reported increased profit as well.
The integrator’s revenue grew to $305 million in the quarter compared with $211 million in the same quarter a year ago. Acquisitions helped fuel that growth, although the company reported organic growth of 25 percent. Net income climbed to $15.9 million from $14.7 million, a rise of about 9 percent.
It was the second quarter of the company's fiscal year, which runs from July 1 to June 30.
SRA captured contracts potentially worth $285 million during the December quarter. But Renny DiPentima, SRA’s president and chief executive officer, noted that many procurements were postponed because of the delayed passage of key appropriations bills. SRA officials expect contract award momentum to increase in the coming second half of the company’s fiscal year.
DiPentima said the company's pipeline of pending business has also increased, coming in at $11.8 billion in the quarter that ended Dec. 2005, compared to $6.1 billion in the year-ago quarter, a 93 percent increase. In addition, the company is pursuing 30 contracts that could each be worth $100 million or more.
SRA boosted its fiscal 2006 guidance, predicting that its annual revenue could total as much as $1.195 billion, a sharp increase from the $1.175 billion upper range the company had previously forecast. The low end of the projection rose to $1.183 billion from $1.140 billion.