SRA Awarded $100 Million Multi-Award Contract from Department of Defense
April 20 2011 - 9:15AM
Business Wire
SRA International, Inc. (NYSE: SRX), a leading provider of
technology and strategic consulting services and solutions to
government organizations and commercial clients, today announced it
has won a blanket purchase agreement awarded by the Office of the
Assistant Secretary of Defense, Research and Engineering
(ASD(R&E)). The multi-award contract has an estimated value of
$100 million over five years, if all options are exercised. SRA is
one of five awardees.
ASD(R&E) provides thought leadership for research and
engineering efforts, and develops technical capabilities to support
the goals and priorities of the Secretary of Defense. Their
research and engineering teams solve current and future engineering
and acquisition challenges for the Department of Defense (DoD). SRA
will provide subject matter expertise in engineering, DoD
acquisition and program management, and will help ASD(R&E)
reduce the cost, acquisition time and risk of DoD’s major defense
acquisition program.
“SRA will maintain active involvement in the DoD acquisition
process in support of the warfighter and the equipment they need to
prepare for potential military conflicts in the future,” said SRA
Senior Vice President National Security Sector Jeffrey Rydant. “SRA
is fully committed to providing high quality engineering and
acquisition services in order for ASD(R&E) to discover, develop
and deploy new science and technology concepts in support of our
national security.”
About SRA International, Inc.
SRA and its subsidiaries are dedicated to solving complex
problems of global significance for government organizations and
commercial clients serving the national security, civil government
and global health markets. Founded in 1978, the company and its
subsidiaries have expertise in such areas as air surveillance and
air traffic management; contract research organization (CRO)
services; cyber security; disaster response planning; enterprise
resource planning; environmental strategies; IT systems,
infrastructure and managed services; learning technologies;
logistics; public health preparedness; public safety; strategic
management consulting; systems engineering; and wireless
integration.
SRA and its subsidiaries employ more than 7,300 employees
serving clients from its headquarters in Fairfax, Va., and offices
around the world. For additional information on SRA, please visit
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. Factors or risks
that could cause our actual results to differ materially from the
results we anticipate include, but are not limited to: (i) reduced
spending levels and changing budget priorities of our largest
customer, the United States federal government, which accounts for
more than 90% of our revenue; (ii) failure to comply with complex
U.S. government procurement-related laws and other regulations,
including but not limited to, punitive damage liabilities under the
False Claims Act and other laws, and financial incentives under
so-called “whistleblower” statutes, awarding the whistleblower with
a percentage of the recovery if the claims are successfully waged;
(iii) possible delays or overturning of our government contract
awards due to bid protests by competitors or loss of contract
revenue or diminished opportunities based on the existence of
organizational conflicts of interest; (iv) entry into new markets
or incurring liabilities in hazardous areas; (v) failure to
comply with laws such as the Foreign Corrupt Practices Act or
regulations on government gratuities; (vi) failure to comply with
Federal Acquisition Regulations and Cost Accounting Standards or
the Fair Labor Standards Act; (vii) security threats, attacks or
other disruptions on our information infrastructure, and failure to
comply with complex network security and data privacy legal and
contractual obligations or to protect sensitive information; (viii)
any violation of third party intellectual rights; (ix) adverse
changes in federal government practices such as insourcing; (x)
delays in the U.S. government adopting appropriations necessary for
program funding and future appropriation uncertainties adversely
impacting customer spending plans; (xi) intense competition to win
U.S. government contracts or re-competes and commoditization of
services we offer; (xii) failure to obtain option awards, task
orders or funding under contracts, or inability to successfully
execute awarded contracts; (xiii) any adverse results of audits and
investigations conducted by the Defense Contract Audit Agency or
any of the Inspectors General for various agencies with which we
contract, including, without limitation, any determination that our
contractor business systems or contractor internal control systems
are deficient; (xiv) difficulties accurately estimating contract
costs and contract performance requirements; (xv) challenges
in attracting and retaining key personnel or high-quality
employees, particularly those with security clearances; (xvi) the
inability to complete the acquisition of SRA (the “Merger”) by an
affiliate of Providence Equity Partners due to the failure to
obtain stockholder approval for the Merger, the failure to satisfy
other conditions to the completion of the Merger, including that a
governmental entity may prohibit, delay or refuse to grant approval
for the consummation of the transaction, or the failure to obtain
the necessary financing arrangements set forth in the debt and
equity commitment letters delivered pursuant to the merger
agreement; (xvii) the diversion of management’s attention from
ongoing business concerns, and the effect of the announcement of
the Merger on our relationships with our customers, operating
results and business generally, and the price of our common stock
if the Merger is not completed in a timely matter or at all;
(xviii) the amount of the costs, fees, expenses and charges related
to the Merger; and (xix) the outcome of any legal proceedings,
regulatory proceedings or enforcement matters that have been or may
be instituted against SRA and others relating to the Merger.
Actual results may differ materially from those indicated by
such forward-looking statements. In addition, the forward-looking
statements included in this press release represent our views as of
April, 20, 2011. 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 April 20,
2011.
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