FDIC

SRA gets a second shot at lucrative FDIC contract

GSA takes contract away from CSC, will reopen bidding

EDITOR'S NOTE: This story has been updated to include General Dynamics as one of the bidders pursuing this recompete.

SRA International has won the first round in its fight to keep a lucrative Federal Deposit Insurance Corporation contract that it lost to a competitor.

The company filed a protest in October, after Computer Sciences Corp. won the recompete for the FDIC Infrastructure Support Services 2 contract.

The contract, administered by the General Services Administration, was worth $341 million over five years, when SRA won it in 2004.

The loss of the contract would be a hit to the company’s revenue and earnings. According to SRA filings with the Securities and Exchange Commission, the contract represented 9 percent of the company’s fiscal 2012 revenue, and a projected 7 percent of fiscal 2013. The company’s fiscal year ends June 30.

SRA estimated that the impact on operating income for fiscal 2013 would range from $3.5 million to $4 million.

GSA decided to cancel the contract with CSC in December, and solicit new technical proposals, SRA said in an SEC filing.

GSA confirmed the cancellation, but declined to provide further details on the timing of the recompete.

In a statement from CSC, the company cited a procedural issue as the reason for GSA reopening the competition.

"We look forward to working with the Federal Deposit Insurance Corporation and the General Services Administration to submit a new proposal for the FDIC infrastructure support contract," the company said.

Besides SRA and CSC, other bidders on the contract included General Dynamics, Lockheed Martin and CACI International.

About the Author

Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.

Reader Comments

Fri, Jul 12, 2013 Chelsea Los Angeles City, California

As far as I know, the Federal Deposit Insurance Corporation would like to cut down on the amount of the unbanked and started a preliminary program known as “Safe Accounts.” The idea was to demo a kind of bank accounts that are simpler to open and have fewer fees and the first study showed great results. Get a Cash Advance Loans Are an Underused Resource, https://personalmoneynetwork.com to help pay for your overdraft fees.

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