SRA Announces Financial Results for Fourth Quarter and Fiscal Year

SRA International, Inc. SRX today announced operating results for the fourth quarter and fiscal year 2010, which ended June 30, 2010. For the quarter, revenue was $424.6 million, up 5.6% from $402.0 million in the June 2009 quarter. Organic revenue growth for the same period was 4.8%. Operating income for the quarter was $33.9 million, for an operating margin of 8.0%. Net income was $20.9 million, for a net margin of 4.9%. Diluted earnings per share for the quarter were $0.36, up $0.06 year over year. For the full fiscal year, revenue was $1.667 billion, up 8.2% from $1.541 billion in FY 2009. Organic revenue growth for the same period was 8.3%. Operating income for the year was $61.1 million, net income was $18.4 million, and DEPS were $0.32. Reported figures include several unusual items, including asset impairment charges of $61.3 million related to the Era business. Adjusted for the impact of these unusual items, operating income was $123.3 million, for an operating margin of 7.4%, net income was $75.8 million, and DEPS were $1.31, up $0.30 year over year.