SI International's Profit Jumps 17 Percent
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Government contractor SI International Inc. of Reston said its third-quarter profit rose 17 percent compared with the corresponding period a year earlier due to its acquisition of Zen Technology Inc. and growth in federal government contracts.
Profit climbed to $5.4 million (41 cents a share) from $4.6 million (39 cents).
Revenue rose 18 percent, to $119.9 million, on new work orders, the expansion of work on current information technology and network contracts, and the Zen Technology acquisition.
Analysts polled by Thomson Financial had expected earnings of 40 cents per share on revenue of $119.7 million.
The company said it benefited from growth in federal government work in information technology modernization, defense transformation, homeland defense and mission-critical outsourcing.
The company maintained its earnings guidance of 43 cents to 47 cents per share for the fourth quarter and $1.54 to $1.58 per share for the full year. But it lowered its revenue forecast to between $465 million and $471 million from the previously forecast range of $470 million to $476 million. The company's full-year earnings guidance includes a stock option expense.
Shares closed at $33.16, up 21 cents.
ยท United Therapeutics Corp. of Silver Spring said its third-quarter profit fell 46 percent on stock-option costs and a hefty income tax expense, as revenue grew 22 percent.
The biotechnology company earned $8.5 million (34 cents a share), down from $15.8 million (61 cents). Excluding $4.3 million in stock option expenses and a tax expense of $5.6 million, the company earned 74 cents a share. Analysts polled by Thomson Financial had expected earnings of 53 cents a share, excluding the expenses.
Revenue jumped 22 percent, to $40.4 million, due to higher sales of its high-blood-pressure drug Remodulin.
Shares closed at $59.85, down 85 cents.
