SRA International, a provider of technology and strategic consulting services and offerings to government organisations and commercial clients, has reported total net revenue of $425m for the fourth quarter of 2010, an increase of 6% compared to $402m for the same period last year.
The company posted an operating income of $33.9m for the fourth quarter of 2010, an increase of 17%, compared to $29m for the same period last year.
For the fourth quarter ended June 30, 2010, the company posted net income of $21m, an increase of 20% compared to a net income of $17.5m for the same quarter a year ago. Net income per diluted share increased to $0.36 from $0.30 for year ago quarter.
The company posted revenue of $1.7bn for the full year ended June 30, 2010, an increase of 13%, compared to $1.5bn in 2009. Operating income for the year was $61.1m, down 39% from $100m in 2009. Net income decreased by 68 % to $18.4m from $58m in 2009, while net income per diluted share decreased to $0.32 from $1.01.
SRA president and CEO Stan Sloane said the fourth quarter results exceeded their prior guidance ranges, and added that the pipeline of opportunities continues to grow, and now includes a record $2.7 billion of pending bids.
"Our backlog of signed business orders has grown 10% year-over-year, providing a solid foundation for revenue growth in fiscal year 2011," Sloane said.
