Era, which SRA bought in 2008, provides surveillance technology to assist with air traffic management for military and civilian organizations.
At the time it bought the Reston-based Era, SRA said the acquisition would help it broaden its offerings and add “leading-edge” capabilities in new and growing markets.
Last year, SRA sold off Era’s airport operations solutions business to ITT. Announcing the buy, ITT said the business produced about $3.5 million in sales in the previous year and had 17 employees.
Now, SRA expects to divest the subsidiary’s air traffic management business within a year.
In the most recent quarter, Era lost $31.1 million — an improvement from a $60.7 million loss in the same three-month period a year earlier, according to SRA.
The Global Clinical Development unit helps mid-sized pharmaceutical and biotechnology companies move a product from concept to the market. The contract research organization manages projects, promising to help companies handle bureaucratic obstacles.
In a filing with the Securities and Exchange Commission, SRA said the sale — also likely within a year — is consistent with the company’s “primary focus on delivering information technology and strategic consulting services and solutions to its U.S. government customers.”
SRA reported that the business lost $1.3 million in the most recent quarter, a reversal from a $400,000 profit in the same period a year earlier.
Last week, SRA reported a loss of $7.1 million (13 cents per share) in the third quarter of fiscal 2011, improved from a loss of $39.7 million (70 cents) in the same period a year earlier. Revenue for the three-month period ended March 31 increased 9.7 percent to $437.3 million.
The company declined to comment on the divestitures.
SRA has announced it will be purchased and turned private under a $1.88 billion agreement with Providence Equity Partners. The deal is expected to close between July and September.