SRA puts up fight for lost FDIC contract

Work represents 9 percent of 2012 revenue

SRA International has filed a protest over a lost contract that represents 9 percent of the company’s $1.6 billion in annual revenue.

The company has been providing a variety of IT services to the Federal Deposit Insurance Corporation since at least 2004, when it won a 5 year, $341 million contract. But it lost the recompete for the ISC2 contract to Computer Sciences Corp.

Last week, the company filed with a notice with the Securities and Exchange Commission that it had lost the FDIC contract, which represented 9 percent of its fiscal 2012 revenue, which ended June 30, and 7 percent of fiscal 2013, which ended Sept. 30.

The company estimated that the impact on operating income for fiscal 2013 would be in the range of $3.5 million to $4 million.

In the SEC notice, the company said that it was waiting for a debrief by FDIC before deciding on further action.

On Oct. 22, it filed a protest with the Government Accountability Office. A decision from GAO is expected by Jan. 30.

The company also said in its filing that it would have release more details during a Nov. 8 investor call.


About the Author

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

Reader Comments

Wed, Oct 24, 2012 No Thanks SRA Washington, DC

You should look at the GAO protest docket as SRA is also protesting a major task order at DIA also. SRA International, Inc. Solicitation Number: HHM402-12-R-0125 Agency: Department of Defense : Defense Intelligence Agency File Number: B-407527.1 Outcome: Not Decided Status: Case Currently Open

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