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SRA’s Earnings Dip Despite Modest Sales Gain

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SRA International [SRX] yesterday said its second quarter net income fell slightly due to a severance charge and higher taxes although sales grew modestly due to acquisitions. Net income dipped a percent to $19 million, 33 cents earnings per share (EPS), from $19.2 million (33 cents EPS) a year ago, inline with consensus estimates. Sales increased 5 percent to $434.8 million from $412.8 million a year ago, with just 1 percent of the gain organic. Free cash flow was a…

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