SRA Declares 2-for-1 Stock Split in the Form of a Stock Dividend
May 02 2005 - 5:14PM
PR Newswire (US)
SRA Declares 2-for-1 Stock Split in the Form of a Stock Dividend
FAIRFAX, Va., May 2 /PRNewswire-FirstCall/ -- SRA International,
Inc. (NYSE:SRX), a leading provider of information technology
services and solutions to the federal government, announced that
its board of directors today declared a two-for-one stock split in
the form of a 100 percent stock dividend on the Company's common
stock. The dividend is payable on May 27, 2005 to shareholders of
record May 13, 2005. The Company had approximately 26.9 million
shares of common stock outstanding as of April 22, 2005. As a
result of the stock dividend, the Company will have approximately
53.8 million shares of common stock outstanding. Diluted share
equivalents are expected to be 57.2 million for the quarter ending
June 30, 2005 and 56.6 million for the fiscal year ending June 30,
2005. "We foresee increased opportunities serving the federal
government in its information technology needs," said Renny
DiPentima, SRA President and Chief Executive Officer. "We
anticipate that increasing the number of outstanding shares will
allow more individual investors as well as institutional investors
to participate in the growth of our company." About SRA
International, Inc. SRA is a leading provider of information
technology services and solutions -- including strategic
consulting; systems design, development and integration; and
outsourcing and managed services -- to clients in national
security, civil government, and health care and public health
markets. The Company also delivers business solutions for text and
data mining, contingency and disaster response planning,
information assurance, environmental strategies, enterprise systems
management, and wireless integration. FORTUNE(R) magazine has
chosen SRA as one of the "100 Best Companies to Work For" for six
consecutive years. In 2004, SRA was named Large Government
Contractor of the Year by the Northern Virginia Government
Contractors Council, the Professional Services Council, and
Washington Technology. The Company's 4,000 employees serve clients
from its headquarters in Fairfax, Virginia, and offices across the
country. For additional information on SRA, please visit
http://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.
Actual results may differ materially from those indicated by such
forward-looking statements as a result of various important
factors, including: our dependence on our contracts with federal
government agencies, particularly within the U.S. Department of
Defense, for substantially all of our revenue, our dependence on
our GSA schedule contracts and our position as a prime contractor
on government-wide acquisition contracts to grow our business, and
other factors discussed in our latest quarterly report on Form 10-Q
filed with the SEC on January 31, 2005. In addition, the
forward-looking statements included in this press release represent
our views as of May 2, 2005. 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 May 2, 2005.
DATASOURCE: SRA International, Inc. CONTACT: Stuart Davis, Vice
President and Director, Investor Relations, +1-703-502-7731, , or
Stephen Hughes, Senior Vice President and CFO, +1-703-227-7010, ,
both of SRA International, Inc. Web site: http://www.sra.com/
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