UPDATE 1-SRA Int'l Q4 tops Street, sees strong FY10 profit

Wed Aug 12, 2009 5:14pm EDT
 
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* Q4 EPS $0.30 vs est. $0.26

* Q4 rev $402 mln beats estimates

* Sees FY10 profit above estimates

* Shares up 6 percent after the bell

Aug 12 (Reuters) - Information technology services provider SRA International Inc (SRX.N) posted fourth-quarter results that beat market estimates and forecast a better-than-expected fiscal 2010 profit, sending its shares up 6 percent.

"Our Q4 financial results reflected effective cost containment across the company and improving performance in our Era business," Chief Financial Officer Rick Nadeau said in a statement.

The company, which acquired privately held Era Corp last year, said net income was $17.5 million, or 30 cents a share, for the fourth quarter ended June 30, compared with $18.8 million, or 32 cents a share, a year earlier.

Revenue rose 4.5 percent to $402 million.

Analysts were expecting a profit of 26 cents a share, excluding items, on revenue of $385.5 million, according to Reuters Estimates.

For fiscal 2010, the company expects earnings of $1.15 to $1.25 per share, on revenue of $1.59 billion to $1.65 billion.

Analysts expected earnings of $1.13 per share, on revenue of $1.61 billion.

Shares of the company rose to $21 in trading after the bell. They closed at $19.84 Wednesday on Nasdaq.

For alerts, please double click [ID:nWNBB4600] (Reporting by Mansi Dutta in Bangalore; Editing by Deepak Kannan)

 

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