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SRA Posts Earnings Decline Despite Higher Sales

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SRA International [SRX] yesterday said its fourth quarter net income fell in part due to higher operating costs and expenses despite a modest increase in sales. The company said sales and net earnings in its new fiscal year will be higher. Net income in the quarter declined by 6 percent to $17.5 million, 30 cents earnings per share (EPS), compared to $18.8 million (32 cents EPS) a year ago. Sales increased nearly 5 percent to $402 million from $384.8 million…

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