SRA Awarded Five-Year $14.4 Million Task Order From U.S. Special Operations Command
SRA International, Inc. (NYSE: SRX), a leading provider of technology
and strategic consulting services and solutions to government
organizations and commercial clients, today announced it has been
awarded the Special...
SRA International, Inc. (NYSE: SRX), a leading provider of technology and strategic consulting services and solutions to government organizations and commercial clients, today announced it has been awarded the Special Operations Research, Development and Acquisition Center (SORDAC) Science and Technology task order under the Global Battlestaff and Program Support vehicle from the Department of Defense’s Special Operations Command (SOCOM). The task order is valued at $14.4 million, with a period of performance of five years. Under the task order, SRA will provide experienced scientists, engineers and project management specialists for programs under the Science and Technology’s purview. “USSOCOM’s Science and Technology office assesses, develops and manages technologies that address the long-term needs of Special Operations forces (SOF),” said SRA National Security Sector Senior Vice President Jeffrey Rydant. “SRA will provide an innovative approach to science and technology initiatives, ensuring that USSOCOM stays on the cutting edge of emerging technologies that will better support the SOF warrior in the future.” About SRA International, Inc. SRA and its subsidiaries are dedicated to solving complex problems of global significance for government organizations and commercial clients serving the national security, civil government and global health markets. Founded in 1978, the company and its subsidiaries have expertise in such areas as air surveillance and air traffic management; contract research organization (CRO) services; cyber security; disaster response planning; enterprise resource planning; environmental strategies; IT systems, infrastructure and managed services; learning technologies; logistics; public health preparedness; public safety; strategic management consulting; systems engineering; and wireless integration. SRA and its subsidiaries employ more than 7,300 employees serving clients from its headquarters in Fairfax, Va., and offices around the world. For additional information on SRA, please visit www.sra.com. Any statements in this press release about future expectations, plans, and prospects for SRA, including statements about the estimated value of the contract and work to be performed, and other statements containing the words “estimates,” “believes,” “anticipates,” “plans,” “expects,” “will,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Factors or risks that could cause our actual results to differ materially from the results we anticipate include, but are not limited to: (i) reduced spending levels and changing budget priorities of our largest customer, the United States federal government, which accounts for more than 90% of our revenue; (ii) failure to comply with complex U.S. government procurement-related laws and other regulations, including but not limited to, punitive damage liabilities under the False Claims Act and other laws, and financial incentives under so-called “whistleblower” statutes, awarding the whistleblower with a percentage of the recovery if the claims are successfully waged; (iii) possible delays or overturning of our government contract awards due to bid protests by competitors or loss of contract revenue or diminished opportunities based on the existence of organizational conflicts of interest; (iv) entry into new markets or incurring liabilities in hazardous areas; (v) failure to comply with laws such as the Foreign Corrupt Practices Act or regulations on government gratuities; (vi) failure to comply with Federal Acquisition Regulations and Cost Accounting Standards or the Fair Labor Standards Act; (vii) security threats, attacks or other disruptions on our information infrastructure, and failure to comply with complex network security and data privacy legal and contractual obligations or to protect sensitive information; (viii) any violation of third party intellectual rights; (ix) adverse changes in federal government practices such as insourcing; (x) delays in the U.S. government adopting appropriations necessary for program funding and future appropriation uncertainties adversely impacting customer spending plans; (xi) intense competition to win U.S. government contracts or re-competes and commoditization of services we offer; (xii) failure to obtain option awards, task orders or funding under contracts, or inability to successfully execute awarded contracts; (xiii) any adverse results of audits and investigations conducted by the Defense Contract Audit Agency or any of the Inspectors General for various agencies with which we contract, including, without limitation, any determination that our contractor business systems or contractor internal control systems are deficient; (xiv) difficulties accurately estimating contract costs and contract performance requirements; (xv) challenges in attracting and retaining key personnel or high-quality employees, particularly those with security clearances; and (xvi) adverse impact on employee and customer relations from media speculation regarding the company and its future ownership and operations.Actual results may differ materially from those indicated by such forward-looking statements. In addition, the forward-looking statements included in this press release represent our views as of March 3, 2011. We anticipate that subsequent events and developments will cause our views to change.However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to March 3, 2011.
SRA International (NYSE:SRX) hit a new 52-week high Wednesday as it changed hands at $29.89 compared with its previous 52-week high of $27.70. SRA International is currently trading at $28.48 with 990,877 shares changing hands as of 3:01 p.m..