SRA International, now in the process of becoming private through a sale to Providence Equity Partners, is divesting two unprofitable units.
The company is selling off the remaining part of subsidiary Era Systems as well as contract research organization Global Clinical Development.
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.