SRA International Beats Estimate

Earnings rise 8%.
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SRA International

(SRX)

said second-quarter earnings rose 8% from the year-ago period on strong national security-related orders.

The company earned $15.9 million, or 28 cents a share, in the quarter, compared with $14.7 million, or 26 cents a share, a year ago. Excluding the impact of stock option based expenses, earnings were $17.9 million, or 31 cents a share. Analysts polled by Thomson First Call were estimating earnings of $16.32 million, or 29 cents a share.

Second quarter revenue rose 45% from a year ago quarter to $305.3 million. Analysts were expecting revenue of $283.57 million for the quarter. Operating profits increased 9% over the comparable quarter of 2004.

SRA said it won new orders worth $285 million during the second quarter. The company's backlog of orders is currently at $3.2 billion, up 33%.

Excluding options, the company expects to earn 31 cents or 32 cents a share in the third quarter and $1.24 to $1.26 a share for the fiscal year. Analysts polled by Thomson First Call were looking for 32 cents a share and $1.24, respectively.

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