SI revenue, profits soar
Integrator points to new task orders, acquisitions and expanded work on current engagements as contributors to its growth.
SI International reported a 67 percent spike in revenues and a 73 percent rise in net earnings for its quarter that ended Dec. 31, 2005, compared with the same quarter in the previous year.
The company reported $116.4 million in raw revenue and $5.1 million in profit for the quarter. Those numbers for the same quarter in 2004 were $69.6 million and $3 million.
The company cited new task orders, the expansion of work on existing information technology and network solutions contracts, and projects added through the acquisitions of Bridge Technology and Shenandoah Electronic Intelligence as the main factors behind the growth.
SI International acquired Bridge in December 2004 and Shenandoah in February 2005.
Without the acquired companies, the integrator's revenue would still have risen by 33 percent, said Brad Antle, the company’s president and chief executive officer.
The December quarter also closed out SI's fiscal year. The company reported an annual revenue of $397.9 million, 52 percent more than 2004's $262.3 million. It's annual net income was $16.9 million, 56 percent more than 2004's $10.9 million.