SRA forecasts strong 2010 earnings growth

SRA International Inc. said it expects its fiscal 2010 earnings per share to rise as much as 24 percent year-over-year, and revenue to climb up to 7 percent in the next year.

The Fairfax, Va.-based technology and consulting company is projecting earnings of $1.15 to $1.25 per share on revenue of $1.59 billion to $1.65 billion for its fiscal year that ends in June 2010.

On average, analysts surveyed by Thomson Reuters expect full-year profit of $1.13 per share on revenue of $1.62 billion.

"Having won over $2.3 billion of new business in FY09, we've improved our revenue visibility for FY10 and established a solid foundation for growth," SRA President and CEO Stan Sloane said in a statement.

SRA late Wednesday reported fiscal 2009 net income of $58 million, or $1.01 per share, on $1.54 billion in revenue for the year ended in June. That compared with earnings of $73.3 million, or $1.24 per share, on $1.51 billion in revenue in the year-earlier period.

SRA's shares climbed 74 cents, or 3.9 percent, to close at $19.84 Wednesday, and gained 68 cents, or 3.4 percent, to $20.52 in aftermarket electronic trading.