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					                                        Honesty and service




       Annu A l
2007


       RepoRt
Technology and Strategic Consulting
Services and Solutions for Government
             overvieW

             SRA InteRnAtIonAl, InC.
                                         Corporate Profile                                                                         Vision
                                            sra is a leading provider of technology and strategic                                     sra aspires to be the best company in the world,
                                         consulting services and solutions to clients in national                                  by every measure — a company that creates real
                                         security, civil government, and health care and public                                    value for its customers and employees by delivering
                                         health. sra services include systems design, develop-                                     high-quality technology and strategic consulting ser-
                                         ment, and integration; and outsourcing and managed                                        vices and solutions; employs the best people, nurtures
                                         services. the company also delivers business solu-                                        them, and enables them to succeed; and steadfastly
                                         tions for contingency and disaster response planning,                                     commits itself to an ethic of honesty and service.
                                         information assurance, business intelligence, environ-
                                         mental strategies, enterprise architecture, infrastruc-
                                         ture management, and wireless integration. our staff
                                         of more than 5,200 talented and dedicated men and
                                         women serves clients from our headquarters in Fairfax,
                                         virginia, and offices across the country. the sra new
                                         york stock exchange symbol is srX.



                                                                                                                                                                total revenue
$ Millions




             Any statements in this Annual Report about future expectations, plans, and prospects for SRA, including statements about the estimated value of the contracts and work to be performed, and other state-
             ments containing the words “estimates,” “believes,” “anticipates,” “plans,” “expects,” “will,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities
             Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: our dependence on our
             contracts with federal government agencies for substantially all of our revenue; our dependence on our GSA schedule contracts and our position as a prime contractor on government-wide acquisition
             contracts to grow our business; our ability to attract and retain skilled employees; any reductions in or reallocations of the U.S. defense budget or the budgets for civil government agencies; the market
             price of the company’s stock prevailing from time to time; the nature of other investment opportunities presented to the company from time to time; the company’s cash flow from operations; and other
             factors discussed in our Annual Report on Form 10-K for the fiscal year ended June 30, 2007. These forward-looking statements should not be relied upon as representing our views as of any date
             subsequent to the date of this printing. We anticipate that subsequent events and developments will cause our views to change. While we may elect to update these forward-looking statements at some
             point in the future, we specifically disclaim any obligation to do so.
                                                                                                                                                                    2007 Annual Report | 



Table of Contents                                                                                       employees Featured on the Cover
Messages from the Chairman and the President/CEO............... 2                                       First Row (left to Right): Jodi Wharff, Project Control Officer; Schirra Gray,
Our Business............................................................................ 4              Senior Software Engineer; Steve newburg-Rinn, Director, Information Assurance
Annual Report on Form 10-K .................................................. 25                        Strategic Initiatives. Second Row: John dewar, Information Assurance Analyst;
Board of Directors and Corporate Officers .............................. 31                             Gina Thansom, Business Operations Analyst. Third Row: brian Michl, Technical
Stockholder Information ......................................................... 32                    lead, Army Force Management System; nyree Waters, Executive Assistant.


Financial Highlights
SRA InTeRnATIonAl, InC. And SubSIdIARIeS • All dollar amounts are in thousands except diluted earnings per share
FoR YeARS ended June 30                                                                                   2003                 2004                    2005               2006                       2007
Revenue                                                                                               $450,375         $615,802               $881,770 $1,179,267                        $1,268,872
Operating Incomea                                                                                       38,257                56,180                  80,015             96,967                   92,825
Operating Income Percentage of Revenuea                                                                  8.5%                  9.1%                    9.1%               8.2%                      7.3%
Net Income         a
                                                                                                        27,392                35,642                  52,195             62,520                   63,430
Net Income Percentage of Revenuea                                                                        6.1%                  5.8%                    5.9%               5.3%                      5.0%
Diluted Earnings Per Share                 a,b
                                                                                                            .58                   .65                    .92               1.08                       1.09
Diluted Sharesb                                                                                         47,460                54,738                  56,549             57,739                   58,382
Total Interest-Bearing Debt                                                                                400                  –                       –                   –                             –
Stockholders’ Equity                                                                                   283,015           339,268                429,092                 533,297                  625,455
Cash Flow from Operations                                                                               43,311                43,451                  65,988             86,831                  122,444
Number of Employees                                                                                      2,638                 3,358                   4,177              4,963                     5,201

a
    To provide a better comparison with our current results, years ended June 30, 2003, 2004 and 2005 have been presented above including the stock compensation
    expense and related tax effects associated with FAS 123R as if it was implemented July 1, 2002 rather than July 1, 2005.
b
    Share and per share amounts have been adjusted to reflect a May 2005 two-for-one stock split.




    NET INCOME ($ MIl)                                  CASh FlOw FROM                                       DIluTED EARNINgS                                  NuMBER OF
                                                        OPERATIONS ($ MIl)                                   PER ShARE a                                       EMPlOYEES




                                                                                                                                                                                                  5,201
                                                                                             $122.4




                                                                                                                                                                                         4,963
                                                                                                                                              $1.09
                                                                                                                                      $1.08
                                       $63.4
                               $62.5




                                                                                                                                                                                 4,177
                                                                                                                               $.92
                       $52.2




                                                                                    $86.8




                                                                                                                                                                         3,358
                                                                                                                       $.65
                                                                            $66.0




                                                                                                                                                                2,638
               $35.6




                                                                                                                $.58
       $27.4




                                                                    $43.5
                                                            $43.3
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2 | SRA International, Inc.



MESSAgE FROM


The Chairman
     This has been a year of transition for SRA International. Dr. Renato DiPentima, an executive in our company for twelve years and
CEO for more than two, has retired. The new CEO is Dr. Stanton Sloane, a seasoned and highly successful executive from lockheed
Martin. At the same time, the market has changed. The wars in Iraq and Afghanistan have diverted funds that otherwise would have
gone to our traditional markets. Nevertheless, I am optimistic over the long term that the markets will return and that SRA will resume
its traditional process of gaining market share.
    Renny DiPentima has been a significant asset to our company. he served as president and chief executive officer of SRA from
January 2005 through March 2007 and as president and chief operating officer prior to that. Before joining SRA in 1995, Renny
compiled an excellent record in federal government service. he was deputy commissioner for systems at the Social Security
Administration, overseeing and managing all information processing, data, and voice communication systems. he chaired the Federal
Information Technology Acquisition Improvement team as part of the President’s National Performance Review initiatives, and later,
he chaired the Industry Advisory Council CIO task force.
    Stan Sloane comes to SRA from lockheed Martin Corporation where he has held the position of executive vice president for
Integrated Systems and Solutions, which provides systems engineering services for information and intelligence systems that support
the Department of Defense and other national security customers. Stan began his career as an officer in the Navy. he joined general
Electric Aerospace in 1984 and progressed through engineering, program management, and business development assignments in
a variety of gE and subsequently lockheed Martin businesses. Stan is wasting no time getting started. I am particularly impressed
       with his initiatives in marketing and sales and profit margin improvement. Over the longer term, he should be able to bring the
                         company more engineering services work.
                                          I have been involved in electrical engineering and information technology for more than 50
                                       years, first as a military officer, then as a senior civil servant, and for the past 29 years with SRA.
                                            During that long period, there have been many variations in federal government priorities
                                                  caused by international tensions, wars, recessions, and evolving needs. The market
                                                      is vast and hard to measure, but I believe it has grown almost every year.
                                                                  There are several reasons for this. First, information technology
                                                             innovation has always accelerated, particularly electronics and software.
                                                                This presents new opportunities to do things better, whether through
                                                                  improved weapon systems or better management of large, com-
                                                                    plex organizations. Second, the needs of our country have always
                                                                      increased because of population and economic growth. Third,
                                                                        virtually all political leaders emphasize efficient and effective
                                                                          government. Professional technical services companies like
                                                                            SRA can meet these needs by assisting military leaders and
                                                                             managers of civil agency systems.
                                                                                    These market conditions seem likely to continue
                                                                                indefinitely. Therefore, the challenge for SRA is to
                                                                                 continue to exploit these wonderful opportunities while
                                                                                  enhancing our corporate values and culture which
                                                                                   are based on the ethic of honesty and service.


                                                                                   ernst Volgenau
                                                                                   Chairman
                                                                                                                2007 Annual Report | 3



MESSAgE FROM


The PresidenT & CeO
   SRA delivered another strong year of operational and financial performance. we maintained our unbroken record of revenue
growth and profitability and, most importantly, created value for our clients, employees, and stockholders while preserving and
enhancing a culture based on honesty and service.
    Revenue increased by 8% from $1.18 billion to $1.27 billion. Net income for the year was $63 million, and diluted earnings per
share were $1.09. we won $1.6 billion in new contract awards, increased our total backlog of signed business orders by 3% to
$3.4 billion, and expanded our pipeline of opportunities by 42% to $18.9 billion. For the fiscal year, cash flows from operations
totaled $122 million, or 1.9 times net income. Our balance sheet continues to support future growth, with over $212 million in cash
and investments and no debt as of June 30, 2007.

new business Highlights
  we continue to win significant work with new and long-term clients across a diverse client base. highlights of our FY07 contract
awards include:
   • A competitive task order to develop and maintain a web-based supply chain management system for the Department of
     Agriculture (uSDA). The new system represents the company’s largest enterprise resource planning implementation to
     date and will support all purchases for uSDA Food Aid programs worldwide.
   • A recompete contract to continue delivering enterprise operations and security services for the nationwide network of the Army
     National guard. SRA manages the communications infrastructure that connects the Army with guard locations in all u.S. states
     and territories.
   • A competitive task order to provide strategy and execution support to the Department of homeland Security Office for Interoper-
     ability and Compatibility to help improve local, tribal, state, and federal emergency preparedness and response.
   • A new contract to design, develop, and implement a software system for the Pension Benefit guaranty Corporation to process
     payments for the pension plans it insures.

Helping our Clients Achieve Mission Success
   we strive to create value for our clients by helping them to fulfill their missions through improvements in efficiency and enhanced
service to citizens. here are a few engagement highlights from this year:
   • SRA modernized a worldwide procurement system for the u.S. Agency for International Development, which provides foreign
     assistance to other countries. The global Acquisition System supports the web-based procurement process at uSAID and features
     a real-time interface with the Agency’s financial system, providing senior managers with integrated reports to aid in decision-making.
   • The hyperspectral and synthetic radar imagery analysis we provide to the Army Space and Missile Defense Command is contrib-
     uting to enhanced force protection for coalition forces in combat zones. SRA analysts are also pioneering new technical analysis
     capabilities for homeland security, border security, and missile defense.
   • SRA delivers strategic consulting and program management support services to the Department of homeland Security’s Disaster
     Management E-gov Initiative, which develops tools and messaging standards to improve emergency response and recovery.
     This year, the program won an Excellence.gov award, recognizing innovation and efficiency gains in an egovernment program.

our employees
   SRA would not have enjoyed the success it did in 2007 without an outstanding team of employees. while competition for hiring
and retaining talented personnel, particularly those holding security clearances, remains challenging, we were able to expand our
workforce from 4,963 a year ago to over 5,200 at the end of FY07.
   we take great pride in our eighth consecutive appearance on FORTUNE magazine’s list of the “100 Best Companies to work
For.” The list is based on an evaluation of the policies and culture of each company and the opinions of the employees. we view our
ongoing commitment to our people not only as good business, but also as the cornerstone of our culture and values.

looking Ahead
   we are well positioned to continue delivering innovative solutions to our clients, accelerating the company’s growth, and enhancing
stockholder value. As we enter fiscal year 2008, I would like to express my gratitude to our clients for their business, to our employees
and board members for their hard work and dedication, and to our stockholders for their ongoing support and confidence.


Stanton d. Sloane
President & Chief Executive Officer
4 | SRA International, Inc.



OuR BuSINESS


Overview
                       Since 1978, clients across the federal government      legacy systems while enabling them to make a seam-
                    have relied on SRA to support their mission-critical      less transition to modern technology environments.
                    programs. we sustain that reputation today, work-         we work with leaders and their management teams
                    ing with clients to improve productivity, reduce costs,   to develop specific implementation plans that achieve
                    transform services to the citizen, and focus on their     the established strategies, effectively track and
                    core missions. we provide information technology          manage implementation efforts, and measure and
                    and strategic consulting services and solutions to        validate results.
                    clients in three principal markets: national security
                    (national defense and homeland security), civil gov-         Systems design, development, and Integration —
                    ernment, and health care and public health.               Our services include project management, systems
                                                                              design, network and systems integration, data anal-
                                                                              ysis and integration, security engineering, software
                    our Services                                              development, database design and development,
                      Strategic Consulting — we help clients formulate        and independent test and evaluation. we analyze
                    business and execution plans to improve performance,      system concepts and assess data and information
                    cost effectiveness, and quality of service. we assess     needs, define requirements, develop operational
                    current operations, develop targeted strategies           prototypes, and integrate complex mission-critical
                    and plans for improvement, define key priorities and      systems and solutions that comply with a client’s en-
                     accountabilities, and design enterprise architectures    terprise architecture. Based on client requirements,
                                  that capitalize on client investments in    we may design custom-built systems; integrate and
                                                                              implement commercial off-the-shelf solutions, such




                                                            Velda Fleming
                                                            Accounts Receivables Manager
                                                                    2007 Annual Report | 5




as those for supply chain management, enterprise
resource planning, and case management; or com-
bine both approaches using service-oriented archi-
tecture principles and other industry best practices.

   outsourcing and Managed Services — SRA
partners with clients to consolidate and modern-           Chris longe
ize existing infrastructures, improve customer ser-        Quality Assurance Director,
vice, and reduce the total cost of operations through      Civil Sector
effective use of industry best practices and perfor-
mance-based contracting methods. we also support
clients with operations management services, some-
times referred to as co-sourcing. Based on client
needs, we may oversee their technical infrastruc-
ture, manage their applications and networks, or op-
erate their entire business processes in accordance
with service-level agreements.




  U.S. Department of Agriculture
  Web-Based Supply Chain
  Management System
  The Department of Agriculture (uSDA) relies on a
  large network of suppliers, warehouses, distribution
  centers, and transportation channels to distribute
  commodities to over 30 million Americans and 280
  million people abroad. This includes school lunch
  programs for children across the u.S. A web-based
  supply chain management system designed and
  maintained by SRA will enable uSDA to manage the
  many components of this supply chain more effec-
  tively. This performance-based contract, worth an
  estimated $90.5 million over five years if all options
  are exercised, represents our largest enterprise
  resource planning implementation to date.
  when fully operational, the system will feature com-
  mercial off-the-shelf products and software and
  help improve uSDA’s ability to view the status
  of their food commodity requests at any stage
  of the order and fulfillment cycle, with improved
  demand and supply planning, an enhanced pro-
  curement process, reduction in order cycle times,
  timely and more accurate financial processing, and
  other customer relationship management areas to
  reduce costs for both uSDA and its customers.
  The SRA team provides program management;
  requirements analysis; systems design, devel-
  opment, and integration; information security;
  operations and maintenance; and training. The
  u.S. general Services Administration awarded
  this contract to SRA in FY07.
6 | SRA International, Inc.



OuR BuSINESS: National Security


defense
                                                                                  SRA has nearly 30 years of experience delivering
                                                                               end-to-end technology and strategic consulting ser-
                                                                               vices to clients across the Department of Defense
                                                                               (DoD). we are playing a major role in transforming the
                                                                               u.S. military into a superior information-centric fight-
                                                                               ing force by designing, developing, integrating, and
                                                                               implementing complex systems in accordance with
                                                                               network-centric and service-oriented enterprise
                                                                               architectures. we are recognized for our subject
                                                                               matter expertise in logistics, transportation, acquisition,
                                                                               personnel, finance, and installation management.

                                                                                  In FY07, we were awarded a new contract to help
                                                                               the u.S. Marine Corps develop an integrated digital
                                                                               work environment for acquisition and life cycle sys-
                         Mahtab dabir                                          tems management functions. The system developed
                                                                               by SRA will provide a secure and easily accessible
                         Test Lead, Army Force
                                                                               common work environment for Marine Corps Systems
                         Management System
                                                                               Command personnel to work collaboratively with oth-
                                                                               er internal and external stakeholders using consistent,
                                                                               automated business processes leveraging a fully inte-
                                                                               grated data environment. The SRA team is delivering
                                                                               a commercial off-the-shelf-based solution and providing




                                                                           Army National Guard
                                                                           Enterprise Operations and
                                                                           Security Services
                                                                           SRA has managed and operated the enterprise operations
                                                                           center for guardNet XXI, the Army National guard’s (ARNg’s)
                                                                          enterprise network communications structure, since 2001.
                                                                         guardNet XXI serves as the communication channel for
                                                                         data and video between the Department of the Army and the
                                                                        National guard Bureau, encompassing 54 states, u.S. territo-
                                                                       ries, the National Capital Region, and the District of Columbia.
                                                                      The network delivers services to support command and con-
                                                                          trol, mobilization, readiness training, and distance learning.
                                                                               In 2006 SRA was awarded a new performance-based
                                                                                 contract to continue support to the enterprise ARNg
                                                                                   information technology (IT) environment. we man-
                                                                                    age several critical enterprise ARNg IT services to
                                                                                     achieve over 99.9 percent service availability. This
                                                                                     includes wide area network services and other en-
                                                                                     terprise systems such as Microsoft’s Active Direc-
                                                                                     tory and Exchange Messaging, service desk, and
                                                                                    international video operations.
                                                                                     SRA provides network engineering, operations, and
                                                                                   security; systems design, integration, implementation,
                                                                                and management; facility operations; equipment mainte-
                                                                            nance; and support for a 24x7x365 centralized service desk
                                                     that receives, routes, and quickly resolves IT support requests from users across
                                                    all of the states and territories. The team developed and has begun implementation
                                                  of IT Infrastructure library best practices to ensure performance targets are aligned
                                                 with service availability, capacity, and responsiveness to service level objectives.
                                                                                                              2007 Annual Report | 7




requirements analysis, data architecture, systems          der this contract help quickly deploy systems to satisfy
engineering and integration, knowledge management,         the nation’s security, defense, and business needs.
and training services.                                     we received over 20 new task order awards this fis-
                                                           cal year to deliver services to support Army programs
   For 20 years SRA has supported the u.S. Trans-          around the world. For example, the systems analysis
portation Command (uSTRANSCOM) in its mission              and architecture development work we performed has
to deliver transportation, sustainment, and distribution   improved network infrastructure capabilities and will
services to the nation’s warfighters. The range of ser-    help develop a roadmap for future systems develop-
vices we currently provide to Directorates across the      ment for worldwide customers. Our information as-
Command includes joint exercise program manage-            surance services support the Army’s Communications
ment, enterprise architecture and portfolio manage-        Security logistics Activity’s supply chain management
ment, training, critical infrastructure protection, and    initiatives. we continued our support for the Army’s
data management. In FY07, we expanded our sup-             command and control, computers, intelligence, sen-
port with new contracts to design and execute table-       sors, and reconnaissance systems development
top exercises for contingency planning, and to identify    at Fort Monmouth, New Jersey, with engineer-
geographic information system technologies and best        ing work for advance global positioning
practices for resource management.                         system performance analysis.

   In 2003, the Army Communications-Electronics
Command (CECOM) selected galaxy Scientific Corpo-
ration (acquired by SRA in 2005) as a prime contractor
on the Rapid Response (CR2) contract. The compre-
hensive information technology services we deliver un-



Representative Clients
Department of Defense
 • Air Mobility Command
 • Defense Information Systems Agency
 • Defense logistics Agency
 • Defense Manpower Data Center
 • Department of the Air Force
 • Department of the Army
 • Department of the Navy
 • Joint Chiefs of Staff
 • Military Sealift Command
 • National guard Bureau
     – Army National guard
 • Office of the Secretary of Defense
 • Surface Deployment and
   Distribution Command
 • u.S. Army Reserves
 • u.S. Marine Corps
 • u.S. Transportation Command




                                           Kevin Hayden
                                           Project Manager, Defense Threat
                                           Reduction Agency
       | SRA International, Inc.



      OuR BuSINESS: National Security


      C3i: and inTelligenCe
           COmmand and COnTrOl, COmmuniCaTiOns



                                           The broad range of services we deliver to national
                                        security, law enforcement, and intelligence agencies
                                        and organizations includes program management;
                                        research, systems analysis, and engineering; intelli-
                                        gence, surveillance, and reconnaissance; and coun-
                                        terintelligence and counterterrorism.

                                          The SRA team’s work on the u.S. Air Force Flexible
                                        Access Secure Transfer Technology Evaluation (FAST
                                        TE) Project will help enhance coalition force interoper-
                                        ability and improve Joint Forces situational awareness
                                        and communications. The program management,
                                        acquisition planning, spectrum management, model-
                                        ing and simulation, and systems engineering services
                                         we provide would enable u.S. and NATO military
                                          units to exchange secure, real-time data, voice, and
                                           video over the air across hundreds of miles.

                                                The u.S. Army Natick Soldier Research Devel-
                                              opment and Engineering Center’s Future Force
                                              warrior Advanced Technology Demonstration,
                                              the research and development foundation for the
                                              ground Soldier System, is enhancing the safety,
                                              mobility, and situational awareness capabilities of
                                              u.S. soldiers. SRA plays an integral role in this
                                              program through its work with the Air Force Re-
barton bernales                               search laboratory human Effectiveness Director-
Program Manager, IT High                     ate and Future Force warrior engineers and sol-
Performance Computing                        diers. For example, the leader system software
and Development                              we are developing condenses a large volume of
                                            information into a manageable interface, improving
                                           situational awareness for field platoon leaders. we
                                           are also integrating existing and emerging technolo-
                                          gies, including speech recognition and the Air Force
                                         standard XMl “Cursor on Target,” and helping to
                                        improve and augment ground operations to include
                                        route navigation planning, medical evacuation and
                                        remote physiological monitoring, unmanned ground
                                        sensor data management, and target prosecution
                                        and engagement.

                                           The hyperspectral and synthetic imagery analysis
                                        we provide to the Army Space and Missile Defense
                                        Command is contributing to enhanced force protec-
                                        tion for coalition forces in combat zones. In addition,
                                        SRA analysts are pioneering new technical analysis
                                        capabilities for homeland security, border security, and
                                        missile defense.
                                                                                                     2007 Annual Report | 




Representative Clients
                                            Law Enforcement Organizations and
Department of Defense
 • Defense Advanced Research
                                            National Security Agencies
   Projects Agency                          GangNet®
 • Defense Information Systems Agency
                                            Violent gang-related crimes are a growing trend across the country, and solving
 • Department of the Air Force              them is complicated by gang members’ mobility and growing realm of influence.
 • Department of the Navy                   Our GangNet database system is a browser-based investigative, analysis, and
 • Missile Defense Agency                   statistical resource used by law enforcement officials to record and track gang
                                            members and their activities. The system includes the individuals’ photos, street
Department of Homeland Security
                                            names, addresses and known associates, along with gang hand signals
 • Coast Guard                              and images of their tattoos. The system is continuously updated with
 • Customs and Border Protection            additional features, such as mapping and facial recognition.
 • Federal Emergency Management Agency
 • Immigration and Customs Enforcement      GangNet is used by 7,500 law enforcement officers in 14 states
 • Preparedness Directorate                 (including cities such as Las Vegas, Los Angeles, and Minne-
                                            apolis); the Bureau of Alcohol, Tobacco, Firearms, and
 • Secret Service
                                            Explosives; the Department of Homeland Security’s
 • Transportation Security Administration   Immigration and Customs Enforcement; and the
Department of Justice                       Federal Bureau of Investigation. It is also being
 • Drug Enforcement Agency                  used in Canada. Investigators can use the
                                            solution’s collaboration and information shar-
 • Federal Bureau of Investigation
                                            ing capabilities across jurisdictions.
 • Office of Justice Programs
 • U.S. Trustees Program
Intelligence Agencies
State and local police, justice, and
homeland security departments




                                                                    Gordon Thigpen
                                                                    Deputy Project Manager,
                                                                    Missile Defense Agency
      0 | SRA International, Inc.



                                     OuR BuSINESS


                                     Civil
Cliff Andrews
Task Lead, Department of Justice,
U.S. Trustees Program                  SRA is helping civil agencies across the federal gov-
                                     ernment take advantage of new technologies while
                                     focusing on their core mission to deliver high-quality
                                     services to citizens.

                                        As the single systems integrator providing enter-
                                     prise-wide information technology (IT) infrastructure
                                     management services to the Federal Deposit Insur-
                                     ance Corporation (FDIC), SRA supports approximately
                                     7,000 users at FDIC headquarters and 94 field offices
                                      nationwide. The innovative services we deliver to this
                                      client include program management; client and help
                                       desk support; data center and local-area network
                                        operations; information security operations; systems
                                        and telecommunications engineering and integra-
                                        tion support; and hardware/software procurement,
                                         distribution, and maintenance. Over the past year,
                                         we have led and supported key reengineering and
                                         process improvement initiatives — including desk-
                                         top refresh for users, year-end processing to meet
                                         legislative changes, and automated server builds
                                         — to simplify the infrastructure, improve customer
                                         service, and reduce costs.

                                           The comprehensive enterprise management in-
                                        frastructure services we deliver to the Office of Per-
                                       sonnel Management (OPM) are helping modernize
                                       and improve network operations and processes.
                                       SRA is responsible for the design, architecture, and
                                      installation of the current infrastructure to ensure it is
                                      available, secure, and responsive to all users; compli-
                                     ant with Federal requirements; and scalable to meet
                                     OPM’s current and future program needs. we are cur-
                                     rently developing a strategic plan for modernizing the
                                     Personnel Investigations Processing System and inte-
                                     grating all systems that support the OPM personnel
                                     security program.

                                        Since 2003, SRA has provided enterprise-wide
                                     technology services to help the National Archives and
                                     Records Administration (NARA) increase the perfor-
                                     mance and reliability of its IT infrastructure aimed at
                                     helping this client meet a growing demand for elec-
                                     tronic federal records and online services. The team
                                     manages and maintains a nationwide network that
                                     ties together NARA’s users and offices, including the
                                     nationwide records centers and the Presidential li-
                                     braries. In addition to the program management; help
                                     desk; and network design, operations, and security
                                     services we contribute, SRA continues to analyze and
                                     implement emerging technologies to enhance cus-
                                     tomer support and upgrade network capabilities.
                                     This past year, SRA engineered and implemented a
                                     major upgrade to NARA’s enterprise-wide directory
                                     and communications infrastructure, greatly enhancing
                                     service to all NARA sites.
                                                                                             2007 Annual Report | 




Representative Clients
• Administrative Office of the u.S. Courts
• Department of Agriculture                                                          Kavita Chandra
• Department of Commerce                                                             Project Manager, U.S. Agency
• Department of health and human Services                                            for International Development,
    – Administration for Children and Families                                       Global Acquisition System
    – Food and Drug Administration
    – health Resources and Services Administration
    – National Institutes of health
       Clinical Center
       Center for Information Technology
       National Cancer Institute
       National Institute of Neurological Disorders and Stroke
       National Institute on Drug Abuse
       National Institute of Allergy and Infectious Diseases
       National Institute of Arthritis and Musculoskeletal
         and Skin Diseases
       Office of the Director
       Office of Extramural Research
• Department of Justice
• Department of labor
• Department of State
    – u.S. Agency for International Development
• Department of Transportation
• Department of the Treasury
• Department of Veterans Affairs
• Environmental Protection Agency
• Federal Deposit Insurance Corporation
• general Services Administration
• government Accountability Office
• library of Congress
• National Archives and Records Administration
• Office of Personnel Management
• Pension Benefit guaranty Corporation
• Small Business Administration




  U.S. Health Resources and Services Administration
  National Practitioner Data Bank and
  Healthcare Integrity and Protection Data Bank
  SRA developed and manages the National Practitioner Data Bank (NPDB) and
  the healthcare Integrity and Protection Data Bank (hIPDB) on behalf of the
  u.S. health Resources and Services Administration. These national flagging
  systems protect the public by collecting and disclosing adverse actions taken
  against health care practitioners, providers, and suppliers to authorized health
  care entities. In FY07 SRA was awarded a new contract to continue to operate,
  maintain, and enhance the data banks.
  The NPDB, a fee-for-query system, helps to ensure quality health care by
  providing a national system to verify adverse actions taken against practi-
  tioners and also helps to safeguard against high-risk practitioners moving
  from state to state or job to job without disclosing their past history. The
  hIPDB, also a fee-for-query system, provides information on health care
  practitioners, providers, and suppliers and related fraud and abuse. The
  hIPDB serves the public by promoting quality health care and deterring
  health care fraud and abuse. SRA services include software development,
  systems engineering, operations services, systems administration, testing,
  and security services.
2 | SRA International, Inc.



OuR BuSINESS


Business sOluTiOns
                       Our business solutions span a broad range of ex-           in tax-exempt entity filings. we are also developing a
                    pertise gained from considerable experience in spe-           suite of predictive models to detect earned income tax
                    cific competencies. These solutions focus on business         credit noncompliance. For the Environmental Protec-
                    requirements shared by many of our clients.                   tion Agency, we are developing data warehousing and
                                                                                  reporting solutions for the ENERgY STAR program.
                    business Intelligence: Text and data Mining
                                                                                  Contingency and disaster Planning
                       Our business intelligence solutions enable our clients
                    to obtain the greatest benefit from electronic information       SRA offers a full spectrum of solutions to help cli-
                    in their internal data repositories and enormous amounts      ents prepare for, respond to, and recover from events
                    of information online. we use our text and data mining        that could adversely affect operations. Our services
                    tools to help them extract value from this information.       include continuity of operations and government, di-
                                                                                  saster response and recovery, crisis communications,
                       SRA combines the capabilities of our NetOwl® text          and critical infrastructure planning. we have over 25
                    mining software and our ORIONMagic® knowledge                 years’ experience supporting clients across federal,
                    management software to offer our clients enhanced             state, and local government. For example, SRA sup-
                    means of managing, exploiting, and analyzing large            ports the Transportation Security Administration (TSA)
                    amounts of enterprise data. ORIONMagic helps                  with technical services for a comprehensive TSA-wide
                    clients cull through gigabytes of information, store          continuity of operations program. we provide techni-
                    the most relevant pieces, and analytically scour each         cal and support services for program, policy, and doc-
                    piece. Our text mining tools collect, search, organize,       ument development; planning support; tests, training
                    and analyze large amounts of unstructured text data.          and exercises; and technical assistance and review
                    NetOwl software applies advanced natural language             as well as operations and support services at various
                    understanding technologies to English, Arabic, Chi-           facilities. For the Department of homeland Security’s
                    nese, Farsi, French, Korean, and Spanish text to ex-          (DhS’s) Office of Infrastructure Protection (OIP), we
                    tract otherwise-unobtainable content.                         provide strategic consulting and operations support,
                                                                                  including support to critical infrastructure councils,
                       we provide data mining solutions to help clients an-       such as the Sector Partnership Framework and the
                    alyze and identify hidden patterns in large databases,        National Infrastructure Advisory Council. SRA also
                    data marts and warehouses, spreadsheets, and text.            supports DhS in preparing the private sector for a
                    This gives them foresight into future trends, as well as      possible pandemic influenza outbreak. we developed
                    the ability to predict outcomes and classify transac-         the initial pandemic strategy for OIP and constructed
                    tions. In FY07, SRA developed and applied new pre-            a pandemic preparedness guide for the private sector.
                    dictive models for the Internal Revenue Service (IRS)         SRA is currently supporting DhS in the implementa-
                    to detect refund fraud at lower cost than previous sta-       tion of a pandemic guide.
                    tistics-based solutions and to detect noncompliance




                        Environmental Protection Agency
                         IT and Analytical Services Support for the Brownfields Program
                          Since its inception in 1995, EPA’s Brownfields Program has empowered states, local governments, and other
                          participants in community revitalization to work together to prevent, assess, safely clean up, and sustain-
                          ably reuse brownfields — defined as real property, the expansion, redevelopment, or reuse of which may be
                         complicated by the presence of a hazardous substance, pollutant, or contaminant. SRA has a long history of
                         delivering support to the program, which has become a nationally recognized model of an innovative and suc-
                          cessful public and private partnership.
                            SRA applies industry best practices in technical research and analytical support, legislation and policy analy-
                            sis, program planning, data analysis, communications and outreach, and facilitation and training to help
                            EPA’s Office of Brownfields Cleanup and Redevelopment (OBCR) effectively manage the program. we also
                            develop information management solutions to help OBCR manage, report, and communicate activities, ac-
                           complishments, and performance measures for the program. under two new contracts awarded to SRA
                         in FY07, we will continue to play a critical role providing the Brownfields Program with integrated, innovative
                       program implementation and IT solutions.
                                                                                                     2007 Annual Report | 3




enterprise Architecture and
Portfolio Management                                           Other SRA Business Solutions
   Federal agencies use information technology (IT)            » Case Management
investment and governance processes such as enter-             » Conflict Resolution and Facilitation
prise architecture (EA) — a framework or blueprint to
                                                               » Customer Relationship Management
identify and link processes, systems, databases, and
technology to outcomes — and portfolio management              » Economic and Statistical Analysis
to help them make informed investment decisions and            » geospatial Services
to best manage their portfolios of IT projects and pro-        » grants Management
grams with reduced risk and cost.                              » human Capital Management
                                                               » Independent Verification & Validation
   SRA offers complete EA solutions that combine best          » logistics
practices with our results-based, holistic EA approach         » Next generation Internet (IPv6)
that delivers measurable progress in both added value
and organizational maturity. we have led numerous fed-
                                                               » Outreach and Communications
eral and state government EA efforts, turning data into        » Performance Management
actionable information using a robust set of data and          » Strategic Consulting and Change Management
process visualization, governance, analysis, and report-       » Virtualization
ing tools. Our experience includes expertise in imple-         » Voice over Internet Protocol (VoIP)
menting and executing EA guidance from the Office
of Management and Budget (OMB), the Federal Chief
Information Officer (CIO) Council, and the government
Accountability Office (gAO).

   Our extensive EA and portfolio management experi-
ence has been gained during ongoing work with clients
including NIh, IRS, EPA, gAO, the Department of
Defense (DoD) Missile Defense Agency, the
u.S. Marine Corps, and the Depart-
ment of Justice.




                                                  Rebecca McHale
                                                  Information Assurance Analyst
4 | SRA International, Inc.



OuR BuSINESS


Business sOluTiOns
(CONTINuED)


                    enterprise Resource Planning                                of experience in providing public key-enabled applica-
                                                                                tions, smart card technology, and directory technolo-
                       SRA uses enterprise solutions, such as Oracle,           gies with proven processes, techniques, and method-
                    PeopleSoft, SAP, and Siebel applications and tech-          ologies to address the privacy, security, technology,
                    nologies, to help our federal government clients            and program and change management issues facing
                    improve their organizational performance. Through           our clients. These clients include the Departments of
                    strategic planning; software selection; implementation      health and human Services, Justice, and homeland
                    of commercial off-the-shelf (COTS) systems; training        Security; the EPA; and the Federal Deposit Insurance
                    and change management; and post-implementation              Corporation (FDIC).
                    processes and systems optimization, we enable our
                    clients to modernize, consolidate, and unify their finan-
                    cial, human resource, supply chain, and customer            Information Assurance and Privacy Solutions
                    relationship management systems.
                                                                                    By linking security and privacy considerations, we
                                                                                help clients maximize the value of policy and proce-
                       SRA combines rapid implementation tools and
                                                                                dure development and assessment activities through-
                    proven methodologies to enable clients to quickly
                                                                                out the systems development life cycle. Our innovative
                    realize value from new implementations, as well as
                                                                                approaches enable our clients to achieve regulatory
                    increase their return on investment in existing ones.
                                                                                compliance, ensure business continuity, limit liability,
                    Clients for whom we provide these services include
                                                                                and enhance privacy risk mitigation. Our extensive ex-
                    the u.S. Coast guard, for whom we designed and im-
                                                                                perience across the federal government includes secu-
                    plemented a service-wide human resources enterprise
                                                                                rity planning and engineering, threat and vulnerability
                    resource planning system, the Department of Agricul-
                                                                                analysis, penetration testing, computer forensic analy-
                    ture, and the Pension Benefit guaranty Corporation.
                                                                                sis, education and training, intrusion detection and
                                                                                response system support, systems certification and
                    Identity Management                                         accreditation, and privacy impact assessments. This
                                                                                year SRA was one of only four companies to receive
                        homeland Security Presidential Directive-12 (hSPD-      the National Security Agency’s information security as-
                    12) set policy for a secure, reliable, and common iden-     sessment capability maturity model version 3.1 rating,
                    tification standard for federal employees and contrac-      which helps organizations select qualified providers to
                    tors. SRA is a founding member of the Federation for        assess the security of their information systems.
                    Identity and Cross-Credentialing Systems (FiXs) con-
                    sortium, and is helping to provide the government with         SRA delivers a wide range of information assurance
                    the necessary security and standardization to meet          and privacy protection services to clients across gov-
                    hSPD-12. The consortium is currently working with           ernment, including the Departments of Agriculture, De-
                    the DoD to provide trusted, interoperable identity veri-    fense, Education, health and human Services, home-
                    fication and credential authentication for contractors      land Security, Justice, labor, and the Treasury; EPA;
                    accessing secure government facilities and networks.        FDIC; the Office of Personnel Management (OPM); the
                                                                                Securities and Exchange Commission; and the u.S.
                      SRA also offers services across every phase of the        Agency for International Development (uSAID).
                    identity management life cycle. we combine our years




                      U. S. Agency for International Development
                       Information Technology Services
                          Since 2003, SRA has provided a range of technical services to support uSAID, an independent federal agen-
                          cy that delivers economic, development, and humanitarian assistance around the world. In FY07, the SRA
                           team continued to work on critical Agency initiatives, including modernization of a worldwide procurement
                           system. The global Acquisition System developed by SRA supports the web-based procurement process at
                          uSAID and features a real-time interface with the Agency’s financial system, providing senior managers with
                         integrated system reports to aid in decision making. we also worked with the Peace Corps to install satellite
                        communications from 30 offices worldwide to the headquarters office in washington, DC.
                      Our work with uSAID’s Office of Economic growth, Agriculture, and Trade enables us to support the Agency’s
                      use of information and communication technology to help its global missions implement in-country aid programs.
                      For example, SRA installed a wireless network infrastructure for the government of haiti and brought phone and
                      Internet access to villages in Vietnam.
                                                                              2007 Annual Report | 5




                                                                                         debra leiss
                                                                                         Deputy Director,
                                                                                         Business Intelligence


Information Sharing and
Knowledge Management
   SRA provides strategic advice on informa-
tion sharing and uses our text and data mining,
privacy, security, and identity management ex-
pertise to design solutions to meet clients’ needs
for secure, efficient information sharing. we help our
clients meet homeland security mandates and exploit
the potential of the Internet for real-time analysis and
decision-making.

   Our knowledge management services and so-
lutions help agencies effectively access, capture,
retrieve, manage, use, and share enterprise informa-
tion to maximize communication and productivity. we
integrate commercial-off-the-shelf (COTS) and cus-
tom applications to increase organizational knowledge
flow and perform knowledge audits, portal design and
configuration, usability analysis, taxonomy and meta-
data services, and enterprise information manage-
ment governance and architectures (including access,
content, document, and records management) to en-
hance information sharing across systems and orga-
nizations. we provide these services for clients across
the federal government, including the u.S. Air Force.


outsourcing, Managed Services,
and Infrastructure Modernization
   we use outsourcing and managed services solu-
tions to help clients consolidate and modernize their
infrastructures while preserving inherent value,
improve customer service, and reduce their cost
of operations using industry best practices,
repeatable processes, and performance-
based contracting methods. we sup-
port clients with proven operations




                                                           Angie Ashe
                                                           Project Manager,
                                                           Department of
                                                           Veterans Affairs
6 | SRA International, Inc.



OuR BuSINESS


Business sOluTiOns
(CONTINuED)


                    management services and may oversee their technical         Our solutions provide best-practice delivery of IT
                    infrastructures, manage their applications and net-      Infrastructure library (ITIl) standards-based processes
                    works, or operate their entire business processes in     and the ISO 20000 standard for IT service manage-
                    accordance with service-level agreements. Clients we     ment. we deliver IT service management consulting,
                    provide these services for include the health Resourc-   education, and implementation services as part of
                    es and Services Administration, the National guard       a comprehensive delivery methodology, which we
                    Bureau, FDIC, gAO, OPM, and uSAID.                       integrate with our CMMI level 3 processes to ensure
                                                                             that we give our clients reliable, high-quality services to
                       SRA delivers infrastructure management solutions,     manage their infrastructures.
                    including IT service management consulting and enter-
                    prise systems management, to support our clients’
                    evolving business needs and missions. we help them       Service-oriented Architecture
                    to manage, successfully and cost-effectively, the           with constant advances in IT, our clients have
                    complexity of geographically dispersed IT infrastruc-    an ongoing need for a service-oriented architecture
                    tures and obtain increased operational efficiencies by   (SOA) — a disciplined, standards-based framework
                    aligning infrastructure and application performance      for building and managing enterprise systems using
                    measures with business performance measures.             shared services and infrastructure to increase busi-
                    we enable them to get the most value from their          ness agility, reduce redundancy, and enable new
                    existing information and knowledge assets while          modes of interaction. SRA applies SOA processes,
                    securely transmitting data through network design,       patterns, and technologies across the IT life cycle to
                    implementation, and migration; systems and database      align our clients’ resources with their missions, identify
                          administration; monitoring and managing network    redundant services, capture business processes, and
                               performance and availability; enterprise      implement governance structures in existing enter-
                                   backup and recovery; and video and        prise architectures. we have experience in applying
                                        data network consolidation.          a wide range of service-oriented technologies, tools,
                                                                             and platforms, including web service standards, ser-
                                                                             vice registries, enterprise service bus products, and
                                                                             large-scale integrated SOA application suites.

                                                                                SRA delivers SOA-based solutions to the Depart-
                                                                             ments of Agriculture and Defense; the library of Con-
                                                                             gress; and uSAID. Many of our ERP implementations
                                                                             are built on SOA-based templates, industry best prac-
                                                                             tices, and product roadmaps.


                                                                             Training, Modeling, and Simulation
                                                                                Our training services and solutions range from
                                                                                custom tools to integration of commercial systems;
                                                                                  all are designed to enhance workforce perfor-
                                                                                     mance at any level. we use our systematic
                                                                                      development approach, based on rigorous
                                                                                        Instructional System Development (ISD)




                                      Michael baker
                                      Systems Engineer
                                                               2007 Annual Report | 7




standards, to develop curriculum, computer- or web-
based distance learning, and e-learning solutions.
SRA provides full life cycle services for implementing
learning management systems and integrating the
systems with legacy or COTS products. Our closed                Mandana Sattari
loop system processes connect training to actual job            Enterprise Architect
performance and provide a mechanism to monitor,
evaluate, and validate that the training achieves the
desired outcomes through demonstrable on-the-
job performance outcomes. SRA has designed and
implemented training systems for clients across DoD
and civil agencies.


Wireless Integration Services
   Our wireless integration services include full life
cycle consulting and security planning, enterprise
deployment and integration, and application develop-
ment. These services enable our clients to cost-
effectively expand their infrastructures to the wireless
enterprise. This makes information more accessible
and offers essential portability, flexibility, security, and
reliability. The scope of our wireless services ensures
that SRA can provide the technical solution that best
addresses an organization’s mission.

   Clients for whom we provided wireless integration
services in FY07 included the Navy Exchange Ser-
vice Command, where we performed an assessment
and provided industry best practices for the security
of their wireless environment, and the FDIC, where
we developed and implemented cost savings
methodologies.




  National Institutes of Health
  Enterprise Architecture Support
  SRA supports NIh’s Office of Research Services in
  planning for and responding to a possible pandemic
  flu. This year we expanded the enterprise architec-
  ture model to aid executives and senior managers in
  responding to a pandemic involving an extreme loss
  of personnel. The architecture enhances manage-
  ment planning by providing a high-level view of the
  enterprise to aid managers who may be quickly
  put into new positions during a pandemic.
  It supports cross-organizational analysis by
  identifying essential functions and resources
  available through management dashboards.
  we also facilitated the development of an enter-
  prise-wide pandemic plan that saved time and
  improved planning effort results.
 | SRA International, Inc.



OuR BuSINESS


TOuChsTOne
COnsulTing grOuP
                       Touchstone Consulting group (Touchstone) has              In FY07, Virginia’s progress was elevated to a best
                    an established record of working with senior leaders         practices model for the nation for emergency plan-
                    in federal government and commercial organizations           ning. The Commonwealth received international rec-
                    to develop, launch, and manage their strategies to           ognition for implementing a common language pro-
                    achieve powerful outcomes. The management con-               tocol to standardize radio language, and established
                    sulting services and solutions we deliver — including        a statewide-deployable back-up communications
                    complex organizational and technical interoperability,       resource that is essential during large events or cata-
                    governance, change management, strategy develop-             strophic loss of communications.
                    ment, strategic communication, performance mea-
                    surement, program management, and workshop and                 The Small Business Administration’s Business gate-
                    meeting facilitation services — help our clients manage      way initiative provides businesses with a one-stop re-
                    their technological and transformational initiatives.        source to easily find compliance resources, tools, and
                                                                                 data from all major u.S. federal agencies regulating
                       Our work for the Virginia governor’s Office of Com-       or serving small businesses. Since 2004, Touchstone
                    monwealth Preparedness is helping the state’s pub-           has delivered strategic planning, stakeholder man-
                    lic safety community effectively communicate during          agement, and project management services for the
                    daily operations and major emergencies. Our practi-          business.gov Internet portal that serves as the center-
                    tioner-driven process for planning and implementation        piece of the initiative. In FY07, the team relaunched
                    leverages expertise throughout the state to improve          the site with new content and enhanced graphics and
                    standard operating procedures, technology, and train-        navigation functions to continue to meet the changing
                    ing and exercises for interoperable communications.          needs of the small business community.



                      Department of Homeland Security,
                      Office for Interoperability and Compatibility
                            Strategy and Execution Support Services
                                  The Department of homeland Security (DhS) established the Office for Interoperability and Com-
                                   patibility (OIC) in 2004 to strengthen efforts to improve local, tribal, state, and federal emergency
                                    preparedness and response. Key components of OIC include the SAFECOM and Disaster Man-
                                     agement (DM) programs. SAFECOM creates the capacity for increased levels of communica-
                                      tions interoperability. DM enables the secure, effective exchange of incident-related data and
                                      information. Touchstone has provided DhS with strategic consulting services and compre-
                                      hensive program management support to improve emergency response communications and
                                      interoperability since 2002.
                                       In 2006, DhS awarded Touchstone a new contract to continue to provide strategy and execution
                                      support services to OIC. The team delivers program management support; communications and
                                    outreach; governance and stakeholder coordination; development of near- and long-term strategies
                                  to improve interoperability and incident response; method and tool development; and standards and
                                    requirements development and acceleration. Recent accomplishments include the successful roll-
                                       out of incident management tools to all major u.S. Navy facilities and statewide strategic planning
                                         pilots in three states. Our services have had a positive impact on over 60,000 emergency re-
                                          sponse agencies and 2.5 million first responders. This year the Disaster Management initiative
                                           received an Excellence.gov award, which recognizes government programs that have dem-
                                           onstrated excellence in egovernment innovation, from the American Council for Technology’s
                                           Industry Advisory Council.
                                                                                          2007 Annual Report | 




Representative Clients
• City of los Angeles
• Department of Commerce: National Oceanic
  and Atmospheric Administration
• Department of Defense
   – Assistant Secretary of Defense for homeland
      Defense and America’s Security Affairs
   – Joint Staff logistics (J4)
   – Missile Defense Agency
   – National geospatial-Intelligence Agency               Martha Johnson
   – Office of the Army Chief Information                  Vice President and Director,
      Officer (CIO/g6)                                     Management Consulting,
• Department of homeland Security                          Touchstone Consulting Group
• Maricopa County, Arizona
• Metro Boston homeland Security Region
• Office of Management and Budget
• Office of Personnel Management
• Small Business Administration
• State of Virginia




                                   Tim Wang
                                   Principal Consultant,
                                   Touchstone Consulting
                                   Group
        20 | SRA International, Inc.



        OuR BuSINESS


        raBa TeChnOlOgies
                                         October 2006 marked the completion of our acquisition of RABA
                                       Technologies, llC, a privately held provider of high-end technical
Karl Gumtow                            services to the national security and intelligence communities.
Vice President and Director,
Intelligence and Space                   RABA brings highly skilled, security-cleared professionals and enables
                                       SRA to offer a more comprehensive suite of capabilities to address the
                                       complex challenges faced by the intelligence community and support
                                       national security by providing leading-edge software development and
                                        information technology engineering services. These comprehensive
                                           capabilities span the systems life cycle, from the analytics required
                                            for red teaming to hardware and software reverse engineering
                                              technical expertise. RABA is a part of the SRA Command and
                                                Control, Communications and Intelligence (C3I) business.


                                                  FY07 Highlights
                                                       A web-based reporting and management system we
                                                     have developed for a federal law enforcement agency is
                                                      helping to improve reporting time and data accuracy for
                                                      criminal investigations. The portal is accessed by thou-
                                                       sands of users across the united States to track and re-
                                                        port criminal investigations by local and state agencies
                                                        and features an advanced search capability and data
                                                        capture mechanism to quickly disseminate information
                                                         related to criminal activity. we have migrated over 30
                                                         years of legacy data into the new system and have
                                                         developed a web interface to simplify data entry.

                                                            Our AVAlON rapid prototyping environment supports
                                                        custom application development for the intelligence and
                                                       aerospace communities. using our experience and capa-
                                                       bilities in service-oriented architecture, we have designed
                                                       and developed a web-services capability to enable users
                                                      to access AVAlON’s analytic capabilities through a web
                                                      browser. we continue to enhance this solution through
                                                     government-funded research and development contracts.



                                                      U.S. Intelligence Community
                                                      Research and Development
                                                      Since 2004, RABA has performed a wide and expanding
                                                      range of research and development services for the u.S.
                                                        intelligence community, including software development
                                                          and engineering to support prototype implementation,
                                                          text mining, embedded programming, and analytical
                                                           support. These solutions support our client in pro-
                                                           ducing new organizational capabilities and providing
                                                           computer application integrity and system and net-
                                                          work protection.
                                                       we are conducting research into emerging computing
                                                      systems and technologies to produce smaller, faster com-
                                                      ponents with greater computing power. we are also build-
                                                      ing a prototype to ensure secure, user-specific downloads
                                                      with a newly designed data containment service that pro-
                                                      tects computer systems and networks from viruses and
                                                      worms and provides a safe area for users to work.
                                                                                                                 2007 Annual Report | 2




SRA welcomes the 185 employees of RABA Technologies, LLC
Robert Addison • Sharri Arnold • Ronald Aubin • Kathleen Bailey • Stephen Barney • Kevin Barrett • James Baruch • Robert Baruch
Curt Bathras • Tammy Bazinet • Kristen Bell • Ivan Bella • Bill Bieman • gregory Bishop • Michael Brazinski • Sherry Brewer • Emerson Brooks
Keith Brown • Joseph Bruce • Joe Budsock • Brian Burke • Mark Butler • gerald Caponera • Nathan Carpenter • Stephen Cavanaugh
Yaakov Chaikin • Kurt Christensen • John Coffie • Bruce Cohen • Kevin Colligan • Steven Colombo • lawrence Compton • Jim Costabile
Anna Critchfield • Set Cruz • Justin Cutler • Jeffrey Czorapinski • Mark Daniel • Scott Daw • Sherri Dembowski • Vincent Dilosa • Jason Dixon
David Dodge • John Dwyer • Delali Dzirasa • John Earnest • David Edwards • John Eiben • Mark Ellis • Jennifer Falk • Scott Finkelstein
Keith Fisher • Paul Franceus • Tad Franson • Craig Fuhrman • Toni Fung • Ricky garris • Anthony geminden • Paul gianni • Patrick gilroy
whitney gornichec • Michael gottleib • Peter gough • David grannas • Karl gumtow • Richard gumtow • Michael haberman • Alain hajjar
Mark hale • Joe harris • Peter haupt • Jacob hayes • Jeffrey hider • Richard hilton • Tarisa holbrook • James honeywell • Erik hudson
heidi hulett • Roger hunt • Sally hunt • Dominic hunter • Richard Impett • John Irish • Frank Jaworski • Kevin Jenkins • Andrew Jett
howard Johnson • horace Jones • Cathy Jung • Peter Kilpe • Jason Kirby • Eugene Kogan • Michael Kolodny • Courtney Koy • John Kreger
Keith lacey • Paula logan • Kenneth luquette • Alvin lyons • Cecil Maccannon • Jeremiah Mahoney • David Martin • Tracy Martin
Andria Mattsen • Kimberly Mayfield • Rogan McAllister • Timothy McCarthy • Jeffrey McIsaac • Rodney McJimpsey • Mark Mclarnon
Mark Messersmith • Jason Meyer • Brian Miller • Michael Miller • Troy Miller • James Moore • James Morgan • Michael Myers • Daren Nelson
Thomas Nelson • hieu Nguyen • Tu Nguyen • John O’loughlin • Bernadette Olean • John Ormonde • John Ortiz • Robert Overberg
Kyong Park • Brad Parlette • James Pell • James Peugh • Theresa Pines • Bruce Press • Julie Press • Clark Price • Jeffrey Qualls • Carl Rabbin
Jennifer Rager • Eric Ragin • Mark Raugas • John Reel • Robert Reese • Kevin Reid • Brent Reusing • Calvin Rich • gilbert Richardson
Clark Richey • David Ritch • Vicente Rodriguez • lynn Rogala • Thomas Rogers • David Rose • Todd Sauter • Frank Schick • Michael Schiller
Mark Schneider • Randy Schrickel • Michael Schumell • Ronald Scott • william Simonds • John Skordas • Jay Slagle • Calvin Smith
Shawn Smith • Natalie Smolyak • Donovan Snyder • Patrick Sponaugle • Kelley Stachurski • James Stafford • Ricardo Stewart • Kevin Suffecool
Phillip Swack • Richard Trappen • Jeffrey Turner • Joseph unger • Robert watson • Mark wehner • Michael west • Sally williams
Jonathan windsor • larry wolpert • Joseph Yaver • lawrence Young • Thomas Ziebro • Jon Zombek




       Robert baruch
       Vice President and Director,
       C3I Emerging Markets
22 | SRA International, Inc.



OuR BuSINESS


researCh &
develOPmenT
                       SRA is committed to helping clients stay on the lead-   semantic coverage in areas as diverse as national
                    ing edge of technology, and our research and develop-      security, law enforcement, and bioinformatics. This
                    ment (R&D) efforts focus on identifying and developing     year we added “smart geocoding,” or the ability to
                    next-generation solutions to help improve capabilities     assign correct latitude and longitude values to place
                    and solve current and future business challenges. we       names while eliminating ambiguity; e.g., Springfield,
                    have a long history of pursuing internally- and govern-    Massachusetts, rather than Springfield, Illinois. This
                    ment-funded R&D in such areas as data mining, natu-        capability significantly enhances our clients’ ability to
                    ral language understanding, knowledge management,          exploit NetOwl output in geospatial analysis. In ad-
                    information assurance, and wireless applications.          dition, NetOwl Extractor provides capabilities to sup-
                                                                               port large-scale solutions, including those utilizing
                                                                               web services.
                    Multilingual Text Mining Systems
                           NetOwl Extractor addresses our clients’ needs          Our NetOwl DocMatcherTM document comparison
                           to exploit large amounts of unstructured data       and categorization software uses advanced linguistic
                              and supports the analysis of documents           features and sophisticated machine learning algo-
                                 in English as well as Arabic, Chinese,        rithms for a variety of question-and-answer-matching
                                    Farsi, French, Korean, and Spanish.        tasks. These range from intelligence analysis applica-
                                        It identifies key concepts and auto-   tions that match incoming reports against established
                                            matically translates extracted     information needs to customer relationship manage-
                                              foreign language phrases to      ment, patent analysis, and résumé routing.
                                                 English, and offers broad
                                                                               Geollect™
                                                                                  Our geollect software combines real-time vehicle,
                                                                               personnel, and asset tracking; high-resolution imag-
                                                                               ery displays; in-vehicle navigation; vehicle telematics;
                                                                               text, audio, and video collaboration; and command
                                                                               and control features to enable clients to securely co-
                                                                               ordinate personnel and vehicles from their operation
                                                                               centers. They can monitor vehicle location and status,
                                                                               transmit destinations and turn-by-turn spoken direc-
                                                                               tions to drivers, and set up dynamic collaborations
                                                                               among deployed teams. geollect runs on wireless
                                                                               global positioning system-enabled personal digital
                                                                               assistants, cell phones, and navigation systems and
                                                                               is accessible through secure web programs. It mini-
                                                                               mizes necessary wireless bandwidth and supports
                                                                               high-resolution imagery and map displays for drivers
                                                                               even when the network is not available, giving users
                                                                               maximum flexibility.

                                                                                  geollect’s capabilities are currently being used by
                                                                               the Department of Defense and other national security
                                                                               clients to enhance information collection and mission
                                                                               planning for warfighters, who upload photographs,
                                                                               videos, and audio annotations to the system. The
                                                                               software’s powerful search capacity enables users to
                                                                               sketch their planned routes on maps and retrieve in-
                                                                               formation, such as where incidents have occurred, to
                                                                               plan safe, effective missions. users can also annotate
                                                                               photos and reports to share information. geollect’s
                                                                               applications in the national security community in-
                                                                               clude surveillance, battlefield handoffs, trend detec-
                                                                               tion, and reconnaissance; it is a powerful tool that
                                        Mike Gross                             enables users to visually convey a precise situation,
                                        Senior Software Engineer               location, or general area.
                                                            2007 Annual Report | 23




Radio Frequency location System
   Our radio frequency location system provides an
easy-to-use, web-based system to locate equipment
and staff in buildings, visualizing two- and three-di-
mensional, multi-floor facilities. users obtain a live
view of equipment locations, can automatically track
the movement of individual items, and can use auto-
mated path planning to find the shortest distance from
user to equipment. Secure, role-based authentication
enables clients to manage user access. The system,
which can be used in conjunction with state-of-the-
art wireless tracking technology, has been deployed
to facilities across the country.


Sensor network Analytical Platform
   The SRA Sensor Network Analytical Platform (SNAP)
is a situation awareness tool for operation center and
field personnel. It offers a portable, real-time environ-
ment for collecting, exploiting, and disseminating data
from deployed networked sensors. SNAP integrates
real-time sensor feeds with aerial and satellite images,
maps, video, and other sources to generate an ac-
curate, high-quality visual image of the location and
movement of objects, including unmanned vehicles.
The Defense Advanced Research Projects Agency
(DARPA) will use SNAP for a third time to provide situa-
tion awareness for its personnel during the 2007 DARPA
urban Challenge autonomous vehicle event. SRA is
enhancing SNAP’s simulation capabilities to include
realistic simulation of missions in urban terrain; these
capabilities will help optimize the missions assigned to
teams and will assist in training event personnel.


Virtual operations Center
   The SRA-developed Virtual Operations Center
(VOC) provides a real-time, interactive, three-dimen-
sional operations center in one desktop application.
The VOC aids clients who simultaneously monitor nu-
merous information sources — including news tick-
ers, real-time video, web pages, and other desktop              bill niehaus
applications — by combining them into a single, uni-            Senior Software Architect
fied view. Its innovative alerting capability shows users
critical changes that might occur across a large set
of monitored sources, panning and zooming a virtual
camera to those displays to highlight updates. The
VOC extends the benefits of organizations’ traditional
operations centers to remote users, and its remote
desktop control capabilities enable its use for such
applications as remote server administration and mo-
bile operations centers. The VOC has been enhanced
to launch from an organization’s web site, making it
easier to deploy and maintain.
24 | SRA International, Inc.




Year in review
July 27, 2006                                     January 8, 2007                                   March 28, 2007
Department of homeland Security Awards               Mark Connel Joins SRA as Vice President and    u.S. Marine Corps Awards $17.8 Million
$42.2 Million Contract to SRA to Provide Strategy Executive Director, Contracts and Procurement     Contract to SRA to Develop Integrated
and Execution Support to Office for Interoperability                                                Digital Environment
and Compatibility                                    January 8, 2007
                                                                                                    June 7, 2007
                                                  SRA on FORTUNE Magazine’s “100 Best
September 28, 2006
                                                  Companies to work For” list for Eighth            SRA Receives Award for Community Service at
SRA Awarded $30.6 Million Contract to             Consecutive Year                                  Annual human Resource leadership Awards of
Support Defense Technical Information Center                                                        greater washington
                                                  January 16, 2007
September 28, 2006                                                                                  June 11, 2007
                                                  SRA Receives Rating from National
Army National guard Awards $173 Million           Security Agency to Perform Information            SRA Promotes Timothy Atkin and John gilligan to
Enterprise Operations and Security Services       Security Assessments                              Senior Vice President
Contract to SRA
                                                  January 18, 2007                                  June 20, 2007
October 4, 2006
                                                  EPA Awards $40.3 Million Brownfields              SRA Announces Signing of Definitive
SRA Announces Signing of Definitive               Analytical and Technical Support                  Agreement to Acquire Constella group, llC
Agreement to Acquire RABA Technologies, llC       Contract to SRA
                                                                                                    June 29, 2007
October 16, 2006                                  January 30, 2007
                                                                                                    SRA Awarded $68.6 Million Task Order
Pension Benefit guaranty Corporation Awards       SRA Founder and Chairman Ernst Volgenau           to Support National Practitioner Data Bank/
$12.3 Million Contract to SRA to Develop New      Named Virginia Outstanding Industrialist by the   healthcare Integrity and Protection Data Bank
Transaction-Based System                          Science Museum of Virginia and
                                                  governor Timothy Kaine
November 7, 2006
                                                  February 23, 2007
general Services Administration Awards
$90.5 Million Department of Agriculture           SRA Announces CEO Succession:
Contract to SRA to Design web-Based               Renny DiPentima Retires as President and CEO
Supply Chain Management System                    on April 1; Stan Sloane Named Successor

December 18, 2006
                                                  March 5, 2007
SRA wins $10.5 Million Contract to Continue
                                                  SRA’s Jean-Paul Boucher and Tim wang
to Support Environmental Protection Agency’s
                                                  Named Federal 100 winners by
Brownfields Program
                                                  Federal Computer Week

December 20, 2006
                                                  March 7, 2007
Department of Defense Awards $13.6 Million
                                                  Jennifer Smith Joins SRA as Vice President and
Contract to SRA to Support TRICARE
                                                  Deputy Director, Marketing and Sales
Management Activity
                                              UNITED STATES
                                  SECURITIES AND EXCHANGE COMMISSION
                                                                Washington, D.C. 20549


                                                                  FORM 10-K
(Mark One)
    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
                                                  FOR THE FISCAL yEAR ENDED JUNE 30, 2007

    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
                                                          Commission File Number 001-31334


                                                    SRA International, Inc.
                                                     (Exact name of Registrant as Specified in its Charter)


                                Delaware                                                                        54-1360804
                      (State or Other Jurisdiction of                                                          (I.R.S. Employer
                     Incorporation or Organization)                                                           Identification No.)


              4300 Fair Lakes Court, Fairfax, Virginia                                                               22033
                 (Address of Principal Executive Offices)                                                        (Zip Code)
                                   Registrant’s telephone number, including area code: (703) 803-1500

                                               Securities registered pursuant to Section 12(b) of the Act:

                              Title of Class                                                      Name of Exchange on Which Registered
         Class A common stock, $0.004 par value per share                                                New york Stock Exchange

                                      Securities registered pursuant to Section 12(g) of the Act: None

     Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes                     No 
     Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes            No 
     Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months, and (2) has been subject to such filing requirements for the past 90 days. Yes                 No 
     Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not
be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this
Form 10-K or any amendment to this Form 10-K. 
     Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer.
           Large accelerated filer                                   Accelerated filer       	       	         	        Non-accelerated filer   
     Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).                  Yes     No 
      The aggregate market value of common stock held by non-affiliates of the registrant as of December 31, 2006, based upon the closing
price of SRA International, Inc. class A common stock on the New York Stock Exchange on December 29, 2006, was $1,103,408,730.
      As of August 10, 2007, there were 43,024,386 shares outstanding of the registrant’s class A common stock and 14,199,828 shares
outstanding of class B common stock.
                                           DOCUMENTS INCORPORATED By REFERENCE
      Certain portions of the definitive proxy statement to be used in connection with the SRA International, Inc. annual meeting of
stockholders, to be held on October 23, 2007, and to be mailed to stockholders of record as of September 10, 2007, are incorporated by
reference into Part III of this Form 10-K.
                                                                   SRA INTERNATIONAL, INC.
                                                                                  FORM 10-K
                                                                        TABLE OF CONTENTS

                                                                                                                                                                                  Page

Part I
Item 1.            Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     3
Item 1A.           Risk Factors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     19
Item 1B.           Unresolved Staff Comments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  31
Item 2.            Properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   31
Item 3.            Legal Proceedings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .          32
Item 4.            Submission of Matters to a Vote of Security Holders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                              32
Part II
Item 5.            Market for Registrant’s Common Equity, Related Stockholder Matters and
                     Issuer Purchases of Equity Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                        32
Item 6.            Selected Financial Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .            34
Item 7.            Management’s Discussion and Analysis of Financial Condition and
                     Results of Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .              35
Item 7A.           Quantitative and Qualitative Disclosures About Market Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                                     47
Item 8.            Financial Statements and Supplementary Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                            47
Item 9.            Changes in and Disagreements with Accountants on Accounting and
                     Financial Disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .             48
Item 9A.           Controls and Procedures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .             48
Item 9B.           Other Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .        51
Part III
Item 10.           Directors, Executive Officers and Corporate Governance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                                   52
Item 11.           Executive Compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               52
Item 12.           Security Ownership of Certain Beneficial Owners and Management and
                      Related Stockholder Matters. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  52
Item 13.           Certain Relationships and Related Transactions, and Director Independence . . . . . . . . . . . . . . . . . . . .                                              52
Item 14.           Principal Accountant Fees and Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                       52
Part IV
Item 15.           Exhibits and Financial Statement Schedules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                         53
Signatures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    55
                                                          PART I

Forward-Looking Statements
      Some of the statements under “Business,” “Management’s Discussion and Analysis of Financial Condition and
Results of Operations,” and elsewhere in this Form 10-K constitute forward-looking statements within the meaning of
The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties,
and other factors that may cause our actual results, levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance or achievements expressed or implied by such forward-
looking statements. In some cases, you can identify these statements by forward-looking words such as “anticipate,”
“believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “should,” “will,” and “would” or similar
words. You should read statements that contain these words carefully because they discuss our future expectations, contain
projections of our future results of operations or of our financial position, or state other forward-looking information. We
believe that it is important to communicate our future expectations to our investors. However, there may be events in the
future that we are not able to predict or control accurately. The factors listed in the section captioned “Risk Factors,” as
well as any cautionary language in this Form 10-K, provide examples of risks, uncertainties, and events that may cause
our actual results to differ materially from the expectations we describe in our forward-looking statements.
     Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot
guarantee future results, levels of activity, performance or achievements. You should not place undue reliance on these
forward-looking statements, which apply only as of the date of this Form 10-K. Subsequent events and developments may
cause our views to change. While we may elect to update these forward-looking statements at some point in the future,
we specifically disclaim any obligation to do so.

Item 1. BUSINESS

OVERVIEW
      We are a leading provider of technology and strategic consulting services and solutions to clients in national security,
civil government, and health care and public health. Our largest market, national security, includes the Department
of Defense, the National Guard, the Department of Homeland Security, the intelligence agencies, and other federal
organizations with homeland security missions. We offer a broad range of services that spans the information technology
life-cycle: strategic consulting; systems design, development, and integration; and outsourcing and managed services. In
addition, to address recurring client needs, we develop business solutions for contingency and disaster response planning,
information assurance, business intelligence, privacy protection, enterprise architecture, infrastructure management,
and wireless integration. We combine a comprehensive knowledge of our clients’ business processes with the practical
application of advanced information technology tools, techniques, and methods to create value-added solutions for our
clients.
      We have provided technology and strategic consulting services and solutions to federal government clients for
over 29 years and have longstanding relationships with many of them. We have served clients within the Departments
of the Army, Navy, and Air Force, the Joint Chiefs of Staff, the Office of the Secretary of Defense, the Department of
the Treasury, and the Federal Emergency Management Agency for over 25 years. We currently serve approximately 300
government clients on over 900 active engagements. Our business is diversified, with no single client or client group
accounting for more than 12% of our revenue during any of the last three fiscal years. For each of the last three fiscal
years, we have been the prime contractor on engagements representing over 86% of our total revenue.
     Our founder and chairman, Ernst Volgenau, has been with us since our inception. Our 86 officers have an average
tenure with our company of approximately 14 years, including any prior service with acquired companies. Our management
team is supported by a high quality staff of more than 5,200 people, approximately 97% of whom are professional staff.
Our professional staff is highly educated, with approximately one-third possessing advanced degrees. In addition, over
two-thirds of our employees hold federal government security clearances.
      From fiscal 2002 to fiscal 2007, we increased our revenue at a compound annual growth rate of approximately
28.6%. Our revenue for the fiscal year ended June 30, 2007 was $1.27 billion, a 7.6% increase over the prior fiscal year. As
of June 30, 2007, our backlog was approximately $3.4 billion, of which $600.4 million was funded. As of June 30, 2006,
our backlog was $3.3 billion, of which $512.8 million was funded. In January 2002, we acquired The Marasco Newton
Group, Ltd., or MNG, our first government services acquisition. In January 2003, we acquired Adroit Systems, Inc., or



                                                              3
Adroit, for its expertise in the areas of command and control, communications, computers, intelligence, surveillance,
and reconnaissance, or C4ISR. In January 2004, we acquired ORION Scientific Systems, or Orion, a privately-held
company focused on counterterrorism and counterintelligence. In April 2005, we acquired Touchstone Consulting
Group, Inc., or Touchstone, a privately-held management consultancy with an established track record of serving senior
executives in the federal government. In July 2005, we acquired Galaxy Scientific Corporation, or Galaxy, a provider
of systems engineering, information technology, and tactical communications services and solutions to the federal
government. In November 2005, we acquired Spectrum Solutions Group, Inc., or Spectrum, a privately-held provider
of enterprise solutions to clients throughout the federal government. In April 2006, we acquired Mercomms Unlimited,
Inc., or Mercomms, which specializes in advanced maritime and defense communications technologies for the federal
government. In October 2006, we acquired RABA Technologies, LLC, or RABA, a provider of high-end technical
services to the national security and intelligence communities. Subsequent to fiscal 2007, in August 2007, we acquired
Constella Group, LLC, or Constella, a provider of global health consulting services. We expect these acquisitions will
enable us to sell a more comprehensive set of services and solutions to a larger client base and to jointly pursue potential
new opportunities.

INDUSTRy BACKGROUND
      The federal government is the largest consumer of information technology services and solutions in the United
States. We believe that the federal government’s spending on information technology will continue to increase in the
next several years, driven by the expansion of national defense and homeland security programs, increased reliance on
information technology outsourcing, demand for greater government efficiency and effectiveness, and the continuing
impact of federal procurement reform. According to the Federal IT Market Forecast, FY 2007 - FY 2012 report published
by INPUT, an independent federal government market research firm, the contracted portion of federal government
spending on information technology is forecasted to grow at an annual rate of 5.6% from $65.2 billion in federal fiscal
year 2007 to $85.6 billion in federal fiscal year 2012.
      Increased Spending on National Defense and Homeland Security. The terrorist attacks of September 11, 2001, the
war in Iraq, and other recent international events have intensified the federal government’s commitment to strengthen our
country’s military, intelligence, and homeland security capabilities and increased the need for information technology
capable of supporting these functions. We believe intelligence agencies will increase demand for data and text mining
solutions to enable them to extract, analyze, and present data gathered from the massive volumes of information available
through open sources such as the Internet. This increased focus on national security, homeland security, and intelligence
has also reinforced the need for interoperability among the many disparate information technology systems throughout
the federal government. We believe the Department of Homeland Security, or DHS, and the intelligence agencies are
increasingly interested in enterprise systems that enable better coordination and communication within and among
agencies and departments.
      Increased Reliance on Information Technology Outsourcing. Outsourcing of information technology operations is
becoming an increasingly attractive alternative for federal agencies that are striving to maintain their core functions with
limited technical resources and a shrinking information technology workforce, while at the same time upgrading technology
and standardizing and streamlining operations. We expect reductions in the federal information technology workforce to
continue due to, among other factors, a projected increase in the number of retiring government employees.
      Demand for Greater Government Efficiency and Effectiveness. Budget-constrained federal government agencies
are under increasing pressure to cut costs, while at the same time continuing to improve and upgrade their technological
capabilities. We believe government chief information officers will increasingly pursue initiatives such as adopting an
enterprise architecture and requiring a business justification for program approvals. We believe new services, including web
and wireless services, will be particularly important as government agencies respond to the necessity for interoperability
among the information technology systems throughout the government and the demand for comprehensive electronic
services to the public.
      Continuing Impact of Federal Procurement Reform. Over the past decade, federal government agencies have
adopted procurement processes that are more similar to typical commercial contract acquisition practices. Changes
in the procurement process have streamlined the process of purchasing information technology services by reducing
procurement time and acquisition costs. These changes provide increased flexibility and enable government entities to
award contracts based on factors other than price alone, such as successful past performance and distinguishing corporate
and technical capabilities.




                                                             4
     There are currently two widely used contract methods in federal procurement, single award/defined statement of
work contracts and indefinite delivery/indefinite quantity contracts:

     •     Single award/defined statement of work contracts. Under this contract method, which can take a year or
           more to complete, an agency solicits, qualifies, and then requests proposals from interested contractors. The
           agency then evaluates the bids and typically awards the contract to a single contractor for a specified service.
           Historically, single award/defined statement of work contracts were the most prevalent type of contract award
           used by federal government clients; however, the use of this type of contract has been declining for the past
           several years.

     •     Indefinite delivery/indefinite quantity contracts. Under this contract method, a federal government agency
           can form preferred provider relationships with one or more contractors. This category includes agency-
           specific indefinite delivery/indefinite quantity, or ID/IQ, contracts; blanket purchase agreements, or BPAs;
           government-wide acquisition contracts, or GWACs; and General Services Administration, or GSA, schedule
           contracts. These umbrella contracts outline the basic terms and conditions under which federal government
           agencies may order services. ID/IQ contracts are typically managed by one agency, the sponsoring agency, and
           may be either for the use of a specific agency or available for use by any agency of the federal government. ID/
           IQ contracts available for use by any agency of the federal government are commonly referred to as GWACs.
           Contractors within the industry compete to be pre-selected to perform work under an ID/IQ contract. An
           ordering agency then issues delivery orders for services to be performed under the contract. If the ID/IQ
           contract has a single prime contractor, only that contractor may be awarded delivery orders. If the contract
           has multiple prime contractors, the award of each delivery order typically will be competitively determined
           among the pre-selected contractors.
           GSA schedules are listings of services and products, along with their respective prices, offered by federal
           government contractors. The schedules are maintained by the GSA for use by any federal agency or other
           authorized entity, including state and local governments. In order for a contractor to enter into a contract with
           the GSA and be listed on a GSA schedule, the contractor must be pre-qualified and selected by the GSA.
           When an agency selects services under a GSA schedule contract, the user agency, or the GSA on its behalf,
           will typically conduct a competitive process, limited to qualified GSA schedule contractors.
           Due to the lower contract procurement costs, reduced procurement time, and increased flexibility associated
           with ID/IQ contracts, BPAs, GWACs and GSA schedule contracts, these vehicles have been utilized frequently
           in the last several years.
      Market Opportunity. The federal government’s demand for information technology services has increased, and
is expected to continue to increase, as a result of planned increases in spending for national defense and homeland
security; increased reliance on outsourced information technology programs; demand for greater government efficiency
and effectiveness; and the continuing impact of federal procurement reform. We believe that for information technology
providers to win contract awards from the federal government they must possess strong and stable management, highly
skilled personnel, a deep knowledge of the government’s business processes, demonstrated technological expertise,
a strong record of past performance, and key positioning on multiple award contract vehicles such as GSA schedule
contracts, GWACs and agency-specific ID/IQ contracts.

OUR APPROACH
      We are a high-end technology and strategic consulting services and solutions provider focused on delivering results
that create tangible value for our clients. We maintain the comprehensive information technology skills required to support
the entire life-cycle of our clients’ systems, from strategic planning to operational support. We employ interdisciplinary
teams to staff our engagements, which enables us to deliver services and solutions that combine our comprehensive
knowledge of our clients’ business processes with the necessary technical expertise. Depending on client needs, we
may integrate commercially available products with existing systems or develop a comprehensive solution that involves
designing, integrating, maintaining, and upgrading a custom-built system.
      To maximize our ability to deliver consistent results that successfully meet client needs, we have developed a
proprietary project management and technical execution methodology, which we call ELITE. We train our project
managers and technical leaders on this methodology, which emphasizes using mature, repeatable processes that reduce
risk and maximize successful project completion. As a result, our company, including all its sectors and business units,
has received a Capability Maturity Model Integrated, or CMMI, level 3 rating under the standards established by the



                                                             5
Software Engineering Institute. This rating reflects that we have mature, repeatable processes that we believe help
reduce risk, improve technical delivery, improve product quality, contain costs, and meet demanding schedules. Often
the federal government requires a CMMI level 3 rating as a qualification to bid on complex software development and
systems integration projects.
     We believe we are able to execute our approach successfully as a result of five core strengths:

   Strong, Stable Management and Highly Skilled Personnel
       Our 86 officers have an average tenure with our company of approximately 14 years, including any prior service with
acquired companies, providing extensive industry experience and strong continuity of management. Several members
of our management team are former senior military officers or government officials who have deep knowledge of the
federal government and its information technology needs. Our corporate culture fosters teamwork and excellence, which
has contributed to our being named in 2007 by Fortune magazine as one of the “100 Best Companies to Work For” for the
eighth straight year. This, in turn, has enhanced our ability to recruit and retain highly skilled personnel. Our professional
staff is highly educated, with approximately one-third holding advanced degrees.

   Knowledge of Government Clients’ Business Processes
      We have served clients within the Departments of the Army, Navy, and Air Force, the Joint Chiefs of Staff, the
Office of the Secretary of Defense, the Department of the Treasury, and the Federal Emergency Management Agency
for over 25 years. As a result of these longstanding relationships, we have an in-depth knowledge of our clients’ business
processes, which enables us to design solutions that address their strategic goals and integrate with their existing systems.
We have also recruited strategic hires with significant governmental or technical experience who have added to our
knowledge of our clients’ business processes and who have extended our expertise into new areas.

   Technical Expertise
      We invest in research and development in areas such as data mining, natural language understanding, knowledge
management, information assurance, and wireless applications in order to offer clients the most up-to-date technological
solutions. We continue to use our domain expertise and advanced technical knowledge to anticipate, identify, and develop
forward-looking technologies to enable clients to meet their mission objectives. We use our proprietary intellectual
property, including our ELITE life-cycle methodology, to provide value-added solutions for our clients.

   Proven Record of Past Performance
      We have provided technology and strategic consulting services and solutions to the federal government for over 29
years and have longstanding relationships with many of our clients. In order to promote high quality results and client
satisfaction, we emphasize long-term assignment of required staff and consistently review our project performance,
including regularly surveying our customers regarding their perceptions of our performance. On competitively awarded
engagements on which we were the incumbent, we have a renewal rate of at least 90% for each of the last three fiscal
years. We calculate our contract renewal rate based on the number of engagements that come up for recompetition during
the period and the number of those recompetitions that we win.

   Key Positioning as a Prime Contractor
      We are currently a prime contractor on three of the federal government’s four largest information technology
services GWACs: Millennia, Millennia Lite, and CIO-SP2i. SRA was also recently awarded a prime contract under GSA’s
newest GWAC, Alliant. We hold six GSA schedule contracts and we are a prime contractor on more than 35 agency-
specific ID/IQ contracts. This broad contract portfolio gives us extensive reach as a preferred provider and enables us
to deliver the full range of our services and solutions to any organization in the federal government. Serving as a prime
contractor positions us to achieve better client relationships, to exert more control and influence over quality results, to
have clearer visibility into future opportunities, and to earn enhanced profit margins.

GROWTH STRATEGy
      Our objective is to continue to profitably grow our business as a leading provider of technology and strategic
consulting services and solutions to a wide variety of federal government organizations. Our growth strategy includes
the following.



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   Leverage Our Longstanding Client Relationships to Cross-Sell Our Full Range of Services
      We plan to continue expanding the scope of the services we provide to our existing clients. We are adept at penetrating,
cross-selling to, and building-out existing client accounts through our successful performance and comprehensive
knowledge of their business, which has led to many long-term contract relationships. We believe our high level of client
satisfaction and deep knowledge of our clients’ business processes enhance our ability to cross-sell additional services.

   Expand Our Client Base
      We believe that the federal government’s increasing reliance on outsourcing and the increased emphasis on national
security and homeland security, coupled with the changes in procurement reform, have significantly increased our market
opportunity. We have a longstanding heritage of supporting the federal government in the areas of contingency and disaster
response planning; information assurance; critical infrastructure protection; and command and control, communications,
and intelligence. We intend to leverage this broad experience to expand our client base to include organizations in the
federal government for which we have not historically worked. We believe our ability to win new clients is enhanced by
our position as a prime contractor on three of the four largest information technology services GWACs. These contracts
enable us to sell our services and solutions to virtually any federal government agency. In addition, we intend to continue
strategic hiring to expand the breadth of our expertise into new areas of the federal government or new technologies.
We have used strategic hires as a cost-effective way to build-out client accounts, to establish new competencies, and to
penetrate new markets.

   Focus Our Applied Research and Development Investments to Enhance Our Core Business
     We intend to continue to invest in applied research and development initiatives to enhance our competitive position
within our business. For example, we have employed proprietary intellectual property developed through these initiatives
in engagements relating to hyperspectral imagery, a virtual operations center, a sensor network analytical platform,
visual radio frequency identification analyzer, foreign language text analysis, and information extraction systems which
can automatically adapt to new extraction requirements.

   Pursue Strategic Acquisitions
      We plan to continue to pursue strategic acquisitions to complement internal growth and to position ourselves to
capitalize on anticipated high growth areas. For example, we acquired MNG in January 2002, Adroit in January 2003,
Orion in January 2004, Touchstone in April 2005, Galaxy in July 2005, Spectrum in November 2005, Mercomms in
April 2006, RABA in October 2006, and Constella in August 2007. Our acquisition strategy is focused on firms that will
enable us to cost-effectively add new clients, specific agency knowledge, or technical expertise. We intend to continue
to selectively acquire high quality companies that accelerate our access to existing or new markets that we believe have
strong growth dynamics.

OUR SERVICES AND BUSINESS SOLUTIONS

   Our Services
      We offer a broad range of technology and strategic consulting services that spans the information technology
life cycle, including: strategic consulting; systems design, development, and integration; and outsourcing and managed
services.
      Strategic Consulting. We help clients formulate business and execution plans to improve performance, cost
effectiveness, and quality of service. We assess current operations, develop targeted strategies and plans for improvement,
define key priorities and accountabilities, and design enterprise architectures that capitalize on client investments in
legacy systems while enabling them to make a seamless transition to modern technology environments. We work with
leaders and their management teams to develop specific implementation plans that achieve the established strategies,
effectively track and manage implementation efforts, and measure and validate results.
     Systems Design, Development, and Integration. Our services include project management, systems design, network
and systems integration, data analysis and integration, security engineering, software development, database design and
development, and independent test and evaluation. We analyze system concepts and assess data and information needs,
define requirements, develop operational prototypes, and integrate complex mission-critical systems and solutions that
comply with a client’s enterprise architecture. Based on client requirements, we may design custom-built systems;



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integrate and implement commercial off-the-shelf solutions, such as those for supply chain management, enterprise
resource planning, and case management; or combine both approaches using service-oriented architecture principles and
other industry best practices.
      Outsourcing and Managed Services. We partner with clients to consolidate and modernize existing infrastructures,
improve customer service, and reduce the total cost of operations through effective use of industry best practices and
performance-based contracting methods. We also support clients with operations management services, sometimes referred
to as co-sourcing. Based on client needs, we may oversee their technical infrastructure, manage their applications and
networks, or operate their entire business processes in accordance with service-level agreements.

   Our Business Solutions
      We have developed business solutions that focus on specific business requirements that are common to many of our
clients. These business solutions generally apply to clients within each of our target markets. Our core business solutions
include business intelligence: text and data mining; contingency and disaster planning; enterprise architecture and
portfolio management; enterprise resource planning; identity management; information assurance and privacy protection;
information sharing and knowledge management; outsourcing, managed services, and infrastructure modernization;
service-oriented architecture; training, modeling, and simulation; and wireless integration services. These business
solutions consist of repeatable tools, techniques, and methods that reflect the specific competencies we have gained from
significant experience in these areas. Our current business solutions are enhanced through our focus on applied research
and development in the areas of data mining, natural language understanding, knowledge management, and wireless
applications.
     Business Intelligence: Text and Data Mining. We provide data mining solutions to help clients analyze and identify
hidden patterns in large databases, data marts and warehouses, spreadsheets, and text. This gives them foresight into
future trends, as well as the ability to predict outcomes and classify transactions.
      We combine the capabilities of our NetOwl® text mining software and our ORIONMagic® knowledge management
software to offer our clients enhanced means of managing, exploiting, and analyzing large amounts of enterprise data.
ORIONMagic helps clients cull through gigabytes of information, store the most relevant pieces, and analytically scour
each piece. Our text mining tools collect, search, organize, analyze and turn large amounts of unstructured text data into
structured data for greater utilization. NetOwl software applies advanced natural language understanding technologies
to English, Arabic, Chinese, Farsi, French, Korean, and Spanish text to extract content.
      In fiscal 2007, we developed and applied new predictive models for the Internal Revenue Service, or IRS, to detect
refund fraud at lower cost than previous statistics-based solutions and to detect noncompliance in tax-exempt entity
filings. We are also developing a suite of predictive models to detect earned income tax credit noncompliance. For the
Environmental Protection Agency, or EPA, we are developing data warehousing and reporting solutions for the ENERGY
STAR program.
      Contingency and Disaster Planning. We offer a broad spectrum of solutions to help clients prepare for, respond
to, and recover from events that could adversely affect operations. Our services include continuity of operations and
government, disaster response and recovery, crisis communications, and critical infrastructure planning. We have over
25 years’ experience supporting clients in these areas across federal, state, and local government. For example, we support
the Transportation Security Administration, or TSA, with technical services for a comprehensive TSA-wide continuity
of operations program. We provide technical and support services for program, policy, and document development;
planning support; tests, training and exercises; and technical assistance and review as well as operations and support
services at various facilities. For the Department of Homeland Security’s, or DHS’s, Office of Infrastructure Protection,
or OIP, we provide strategic consulting and operations support, including support to critical infrastructure councils,
such as the Sector Partnership Framework and the National Infrastructure Advisory Council. We also support DHS in
preparing the private sector for a possible pandemic influenza outbreak. We developed the initial pandemic strategy
for OIP and constructed a pandemic preparedness guide for the private sector. We are currently supporting DHS in the
implementation of a pandemic guide.
      Our work for the Virginia Governor’s Office of Commonwealth Preparedness is helping the state’s public safety
community effectively communicate during daily operations and major emergencies. Our practitioner-driven process
for planning and implementation makes use of expertise throughout the state to improve standard operating procedures,
technology, and training and exercises for interoperable communications.




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      In 2006, we received a contract to continue to provide strategy and execution support services to DHS’s Office
for Interoperability and Compatibility. We deliver program management support; communications and outreach;
governance and stakeholder coordination; development of near- and long-term strategies to improve interoperability and
incident response; method and tool development; and standards and requirements development and acceleration. Recent
accomplishments include the successful roll-out of incident management tools to all major U.S. Navy facilities and
statewide strategic planning pilots in three states.
      Enterprise Architecture and Portfolio Management. Federal agencies use information technology, or IT, investment
and governance processes such as enterprise architecture — a framework or blueprint to identify and link processes,
systems, databases, and technology to outcomes — and portfolio management to help them make informed investment
decisions and to best manage their portfolios of IT projects and programs with reduced risk and cost.
      We offer enterprise architecture solutions that combine best practices with our results-based, holistic enterprise
architecture approach that delivers measurable progress in both added value and organizational maturity. We have led
numerous federal and state government enterprise architecture efforts, turning data into actionable information using a
robust set of data and process visualization, governance, analysis, and reporting tools. Our experience includes expertise
in implementing and executing enterprise architecture guidance from the Office of Management and Budget, or OMB,
the Federal Chief Information Officer, or CIO, Council, and the Government Accountability Office, or GAO.
      We have gained extensive enterprise architecture and portfolio management experience during ongoing work with
clients including NIH, IRS, EPA, GAO, the Department of Defense, or DoD, Missile Defense Agency, the U.S. Marine
Corps, and the Department of Justice.
      We support NIH’s Office of Research Services in planning for and responding to a possible pandemic flu. This
year we expanded the enterprise architecture model to aid executives and senior managers in responding to a pandemic
involving an extreme loss of personnel. The architecture enhances management planning by providing a high-level
view of the enterprise to aid managers who may be quickly put into new positions during a pandemic. It supports cross-
organizational analysis by identifying essential functions and resources available through management dashboards. We
also facilitated the development of an enterprise-wide pandemic plan.
     Enterprise Resource Planning. We use enterprise solutions, such as Oracle, PeopleSoft, SAP, and Seibel applications
and technologies, to help our federal government clients improve performance by modernizing, consolidating, and
unifying their financial, human resource, supply chain, and customer relationship management systems.
      Clients for whom we provide these services include the U.S. Coast Guard, for whom we designed and implemented
a service-wide human resources enterprise resource planning system, the Department of Agriculture, and the Pension
Benefit Guaranty Corporation.
      The Department of Agriculture, or USDA, relies on a large network of suppliers, warehouses, distribution centers,
and transportation channels to distribute commodities to over 30 million Americans and 280 million people abroad.
This includes school lunch programs for children across the U.S. We designed and maintain a Web-based supply
chain management which enables USDA to manage the many components of this supply chain more effectively. This
performance-based contract, worth an estimated $90.5 million over five years if all options are exercised, represents our
largest enterprise resource planning implementation to date. When fully operational, the system will feature commercial
off-the-shelf products and software and help improve USDA’s ability to view the status of their food commodity requests
at any stage of the order and fulfillment cycle, with improved demand and supply planning, an enhanced procurement
process, reduction in order cycle times, timely and more accurate financial processing, and other customer relationship
management areas to reduce costs for both USDA and its customers.
      Identity Management. Homeland Security Presidential Directive-12 set policy for a secure, reliable, and common
identification standard for federal employees and contractors. We are a founding member of the Federation for Identity
and Cross-Credentialing Systems consortium, and are helping to provide the government with the necessary security and
standardization to meet this directive. The consortium is currently working with the DoD to provide trusted, interoperable
identity verification and credential authentication for contractors accessing secure government facilities and networks.
      We combine our experience in providing public key-enabled applications, smart card technology, and directory
technologies with processes, techniques, and methodologies to address the privacy, security, technology, and program
and change management issues facing our clients. These clients include the Departments of Health and Human Services,
Justice, and Homeland Security; the EPA; and the Federal Deposit Insurance Corporation, or FDIC.




                                                            9
      Information Assurance and Privacy Solutions. Our information assurance and privacy solutions enable our clients
to achieve regulatory compliance, ensure business continuity, limit liability, and enhance privacy risk mitigation. Our
experience in the federal government includes security planning and engineering, threat and vulnerability analysis,
penetration testing, computer forensic analysis, education and training, intrusion detection and response system support,
systems certification and accreditation, and privacy impact assessments.
      We deliver a wide range of information assurance and privacy protection services to clients across government,
including the Departments of Agriculture, Defense, Education, Health and Human Services, Homeland Security, Justice,
Labor, and the Treasury; EPA; FDIC; the Office of Personnel Management, or OPM; the Securities and Exchange
Commission; and the U.S. Agency for International Development, or USAID.
      Information Sharing and Knowledge Management. We provide strategic advice on information sharing and we use
our text and data mining, privacy, security, and identity management expertise to design solutions to meet clients’ needs
for secure, efficient information sharing. We help our clients meet homeland security mandates and exploit the potential
of the Internet for real-time analysis and decision-making.
     Our knowledge management services and solutions help agencies effectively access, capture, retrieve, manage, use,
and share enterprise information to maximize communication and productivity. We integrate commercial-off-the-shelf
and custom applications to increase organizational knowledge flow and perform knowledge audits, portal design and
configuration, usability analysis, taxonomy and metadata services, and enterprise information management governance
and architectures, including access, content, document, and records management to enhance information sharing across
systems and organizations. We provide these services for clients in the federal government, including the U.S. Air
Force.
      Outsourcing, Managed Services, and Infrastructure Modernization. We provide outsourcing and managed
services solutions to help clients consolidate and modernize their infrastructures while preserving inherent value,
improving customer service, and reducing the cost of operations using industry best practices, repeatable processes,
and performance-based contracting methods. We support clients with operations management services and we may
oversee their technical infrastructures, manage their applications and networks, or operate their entire business processes
in accordance with service-level agreements. Clients we provide these services for include the Health Resources and
Services Administration, the National Guard Bureau, FDIC, GAO, OPM, and USAID.
      We deliver infrastructure management solutions, including IT service management consulting and enterprise
systems management, to support our clients’ evolving business needs and missions. We help them to manage, successfully
and cost-effectively, the complexity of geographically dispersed IT infrastructures and obtain increased operational
efficiencies by aligning infrastructure and application performance measures with business performance measures.
      Our solutions provide delivery of IT Infrastructure Library standards-based processes and the ISO 20000 standard
for IT service management. We deliver IT service management consulting, education, and implementation services as
part of a delivery methodology, which we integrate with our CMMI Level 3 processes.
      Service-Oriented Architecture. With constant advances in IT, our clients have an ongoing need for a service-
oriented architecture — a disciplined, standards-based framework for building and managing enterprise systems using
shared services and infrastructure to increase business agility, reduce redundancy, and enable new modes of interaction.
We apply service-oriented architecture processes, patterns, and technologies across the IT life cycle to align our clients’
resources with their missions, identify redundant services, capture business processes, and implement governance
structures in existing enterprise architectures. We have experience in applying a wide range of service-oriented
technologies, tools, and platforms, including Web service standards, service registries, enterprise service bus products,
and large-scale integrated service-oriented architecture application suites.
     We deliver service-oriented architecture-based solutions to the Departments of Agriculture and Defense; the Library
of Congress; and USAID. Many of our ERP implementations are built on service-oriented architecture-based templates,
industry best practices, and product roadmaps.
      Training, Modeling, and Simulation. Our training services and solutions range from custom tools to integration
of commercial systems. All are designed to enhance workforce performance at any level. We use our systematic
development approach, based on rigorous Instructional System Development standards, to develop curriculum, computer-
or Web-based distance learning, and e-learning solutions. We provide full life cycle services for implementing learning
management systems and integrating the systems with legacy or commercial off-the-shelf products. Our closed loop
system processes connect training to actual job performance and provides a mechanism to monitor, evaluate, and validate
that the training achieves the desired outcomes through demonstrable on-the-job performance outcomes. We have
designed and implemented training systems for clients across DoD and civil agencies.
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      Wireless Integration Services. Our wireless integration services include full life cycle consulting and security
planning, enterprise deployment and integration, and application development. These services enable our clients to cost-
effectively expand their infrastructures to the wireless enterprise. This makes information more accessible and offers
portability, flexibility, security, and reliability.
     Clients for whom we provided wireless integration services in fiscal 2007 include the Navy Exchange Service
Command, where we performed an assessment and provided industry best practices for the security of their wireless
environment, and the FDIC, where we developed and implemented cost savings methodologies.

TARGET MARKETS
     We deliver our technology and strategic consulting services and solutions primarily to federal government clients
within three target markets:

        •       national security, which consists of two components:

                •        command and control, communications, and intelligence, and

                •        information systems for the Department of Defense;

        •       civil government; and

        •       health care and public health.
        We also provide technology and strategic consulting services and solutions to a few commercial clients.
        The following is a summary of our business in each of our markets:
                                                                                                          Total Revenue                    Contract
                                                                                            Fiscal year ended        Fiscal year ended   Backlog as of
Market                                                                                        June 30, 2007            June 30, 2006     June 30, 2007
                                                                                                                        (in millions)
National security . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                $ 745.3                  $ 697.2           $ 1,953.3
Civil government . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                       395.6                    374.5           1,030.1
Health care and public health . . . . . . . . . . . . . . . . . . . . .                            115.5                    100.0             416.6
Commercial . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                    12.5                      7.6              10.2
   Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .           $ 1,268.9                $ 1,179.3         $ 3,410.2

     National Security
    We view the national security market as consisting of two distinct components: command and control,
communications, and intelligence, and defense information systems.
     Command and Control, Communications, and Intelligence. The broad range of services we deliver to national
security, law enforcement, and intelligence agencies and organizations includes program management; research, systems
analysis, and engineering; intelligence, surveillance, and reconnaissance; and counterintelligence and counterterrorism.
      Our work on the U.S. Air Force Flexible Access Secure Transfer Technology Evaluation Project will help enhance
coalition force interoperability and improve Joint forces situational awareness and communications. The program
management, acquisition planning, spectrum management, modeling and simulation, and systems engineering services
we provide are designed to enable U.S. and NATO military units to exchange secure, real-time data, voice, and video
over the air across hundreds of miles.
      The U.S. Army Natick Soldier Research Development and Engineering Center’s Future Force Warrior Advanced
Technology Demonstration, the research and development foundation for the Ground Soldier System, is enhancing the
safety, mobility, and situational awareness capabilities of U.S. soldiers. We play an integral role in this program through
our work with the Air Force Research Laboratory Human Effectiveness Directorate and Future Force Warrior engineers
and soldiers. For example, the leader system software we are developing condenses a large volume of information
into a manageable interface, improving situational awareness for field platoon leaders. We are also integrating existing
and emerging technologies, including speech recognition and the Air Force standard XML “Cursor on Target,” and
helping to improve and augment ground operations to include route navigation planning, medical evacuation and remote
physiological monitoring, unmanned ground sensor data management, and target prosecution and engagement.



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      The hyperspectral and synthetic imagery analysis we provide to the Army Space and Missile Defense Command is
contributing to enhanced force protection for coalition forces in combat zones. In addition, our analysts are pioneering
new technical analysis capabilities for homeland security, border security, and missile defense.
      We perform a wide and expanding range of research and development services for the U.S. intelligence community,
including software development and engineering to support prototype implementation, text mining, embedded
programming, and analytical support. These solutions support our client in producing new organizational capabilities
and providing computer application integrity and system and network protection.
     Violent gang-related crimes are a growing trend across the country, and solving them is complicated by gang
members’ mobility and growing realm of influence. Our GangNet database system is a browser-based investigative,
analysis, and statistical resource used by law enforcement officials to record and track gang members and their activities.
The system includes the individuals’ photos, street names, addresses and known associates, along with gang hand signals
and images of their tattoos. The system is continuously updated with additional features, such as mapping and facial
recognition. GangNet is used by law enforcement officers in 14 states (including cities such as Las Vegas, Los Angeles,
and Minneapolis); the Bureau of Alcohol, Tobacco, Firearms, and Explosives; the Department of Homeland Security’s
Immigration and Customs Enforcement; and the Federal Bureau of Investigation. It is also being used in Canada.
Investigators can use the solution’s collaboration and information sharing capabilities across jurisdictions.
     A Web-based reporting and management system we have developed for a federal law enforcement agency is helping
to improve reporting time and data accuracy for criminal investigations. The portal is accessed by thousands of users
across the United States to track and report criminal investigations by local and state agencies and features an advanced
search capability and data capture mechanism to quickly disseminate information related to criminal activity. We have
migrated over 30 years of legacy data into the new system and have developed a Web interface to simplify data entry.
     Our AVALON rapid prototyping environment supports custom application development for the intelligence and
aerospace communities. Using our experience and capabilities in service-oriented architecture, we have designed and
developed a Web-services capability to enable users to access AVALON’s analytic capabilities through a Web browser.
We continue to enhance this solution through government-funded research and development contracts.
     We are conducting research into emerging computing systems and technologies to produce smaller, faster
components with greater computing power. We are also building a prototype to ensure secure, user-specific downloads
with a newly designed data containment service that protects computer systems and networks from viruses and worms
and provides a safe area for users to work.
     Defense Information Systems. We design, develop, integrate, and implement complex systems in accordance with
network-centric and service-oriented enterprise architectures. We have subject matter expertise in logistics, transportation,
acquisition, personnel, finance, and installation management.
      In fiscal 2007, we were awarded a new contract to help the U.S. Marine Corps develop an integrated digital work
environment for acquisition and life cycle systems management functions. The system will provide a secure and easily
accessible common work environment for Marine Corps Systems Command personnel to work collaboratively with
other internal and external stakeholders using consistent, automated business processes leveraging a fully integrated data
environment. We are delivering a commercial off-the-shelf-based solution and providing requirements analysis, data
architecture, systems engineering and integration, knowledge management, and training services.
      For 20 years, we have supported the U.S. Transportation Command in its mission to deliver transportation,
sustainment, and distribution services to the nation’s troops. The range of services we currently provide to Directorates
across the Command includes joint exercise program management, enterprise architecture and portfolio management,
training, critical infrastructure protection, and data management. In fiscal 2007, we expanded our support with new
contracts to design and execute tabletop exercises for contingency planning, and to identify geographic information
system technologies and best practices for resource management.
     In 2003, the Army Communications-Electronics Command selected Galaxy Scientific Corporation, which we
acquired in 2005, as a prime contractor on the Rapid Response contract. The information technology services we deliver
under this contract help quickly deploy systems to satisfy the nation’s security, defense, and business needs. We received
over 20 new task order awards in fiscal 2007 to deliver services to support Army programs around the world. For
example, the systems analysis and architecture development work we performed has improved network infrastructure
capabilities and will help develop a roadmap for future systems development. Our information assurance services support
the Army’s Communications Security Logistics Activity’s supply chain management initiatives.



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      We have managed and operated the enterprise operations center for GuardNet XXI, the Army National Guard’s
enterprise network communications structure, since 2001. GuardNet XXI serves as the communication channel for
data and video between the Department of the Army and the National Guard Bureau, encompassing 54 states, U.S.
territories, the National Capital Region, and the District of Columbia. The network delivers services to support command
and control, mobilization, readiness training, and distance learning. In 2006, we were awarded a new performance-
based contract to continue support to the enterprise Army National Guard IT environment. We manage several critical
enterprise Army National Guard IT services. This includes wide area network services and other enterprise systems such
as Microsoft’s Active Directory and Exchange Messaging, service desk, and international video operations. We provide
network engineering, operations, and security; systems design, integration, implementation, and management; facility
operations; equipment maintenance; and support for a full time centralized service desk that receives, routes, and resolves
IT support requests from users across all of the states and territories. We developed and have begun implementation of
IT Infrastructure Library best practices designed to maximize performance targets in the areas of service availability,
capacity, and responsiveness to service level objectives.

   Civil Government and Health Care and Public Health
      We help clients in civil agencies develop and implement strategies and use advanced technology to enable operational
efficiencies and delivery of service-oriented solutions to citizens. Our clients include the Departments of Agriculture,
Commerce, Justice, Labor, Transportation, the Treasury, and Veterans Affairs; the Environmental Protection Agency;
the Federal Deposit Insurance Corporation; the Government Accountability Office; the Library of Congress; the National
Archives and Records Administration; the U.S. Agency for International Development; and the Department of Health and
Human Services including such agencies as the National Institutes of Health and the Food and Drug Administration.
      As the single systems integrator providing enterprise-wide IT infrastructure management services to the Federal
Deposit Insurance Corporation, or FDIC, we support approximately 7,000 users at FDIC headquarters and 94 field offices
nationwide. The services we deliver to this client include program management; client and help desk support; data center
and local-area network operations; information security operations; systems and telecommunications engineering and
integration support; and hardware/software procurement, distribution, and maintenance. During fiscal 2007, we led
and supported key reengineering and process improvement initiatives — including desktop refresh for users, year-end
processing to meet legislative changes, and automated server builds — to simplify the infrastructure, improve customer
service, and reduce costs.
      The comprehensive enterprise management infrastructure services we deliver to the Office of Personnel
Management, or OPM, are helping modernize and improve network operations and processes. We are responsible for the
design, architecture, and installation of the current infrastructure to ensure it is available, secure, and responsive to users;
compliant with Federal requirements; and scalable to meet OPM’s current and future program needs. We are currently
developing a strategic plan for modernizing the Personnel Investigations Processing System and integrating all systems
that support the OPM personnel security program.
      Since 2003, we have provided enterprise-wide technology services to help the National Archives and Records
Administration, or NARA, increase the performance and reliability of its IT infrastructure aimed at helping this client
meet a growing demand for electronic federal records and online services. We manage and maintain a nationwide
network that ties together NARA’s users and offices, including the nationwide records centers and the Presidential
Libraries. In addition to the program management, help desk, and network design, operations, and security services
we contribute, we continue to analyze and implement emerging technologies to enhance customer support and upgrade
network capabilities. In fiscal 2007, we engineered and implemented a major upgrade to NARA’s enterprise-wide
directory and communications infrastructure, enhancing service to all NARA sites.
      We developed and manage the National Practitioner Data Bank, or NPDB, and the Healthcare Integrity and
Protection Data Bank, or HIPDB, on behalf of the U.S. Health Resources and Services Administration. These national
flagging systems protect the public by collecting and disclosing adverse actions taken against health care practitioners,
providers, and suppliers to authorized health care entities. In fiscal 2007 we were awarded a new contract to continue to
operate, maintain, and enhance the data banks. The NPDB, a fee-for-query system, helps to ensure quality health care
by providing a national system to verify adverse actions taken against practitioners and also helps to safeguard against
high-risk practitioners moving from state to state or job to job without disclosing their past history. The HIPDB, also a
fee-for query system, provides information on health care practitioners, providers, and suppliers and related fraud and




                                                              13
abuse. The HIPDB serves the public by promoting quality health care and deterring health care fraud and abuse. Our
services include software development, systems engineering, operations services, systems administration, testing, and
security services.
     We have a long history of delivering support to the EPA’s Brownfields Program. We provide technical research
and analytical support, legislation and policy analysis, program planning, data analysis, communications and outreach,
and facilitation and training to help EPA’s Office of Brownfields Cleanup and Redevelopment effectively manage the
program. We also develop information management solutions to help them manage, report, and communicate activities,
accomplishments, and performance measures for the program. Under two new contracts awarded in fiscal 2007, we will
continue to provide the Brownfields Program with integrated program implementation and IT solutions.
      Since 2003, we have provided a range of technical services to support USAID, a federal agency that delivers
economic, development, and humanitarian assistance around the world. In fiscal 2007, we continued to work on critical
agency initiatives, including modernization of a worldwide procurement system. The Global Acquisition System we
developed supports the Web-based procurement process at USAID and features a real-time interface with the agency’s
financial system, providing senior managers with integrated system reports to aid in decision making. We also worked
with the Peace Corps to install satellite communications from 30 offices worldwide to the headquarters office in
Washington, DC. We work with USAID’s Office of Economic Growth, Agriculture, and Trade to support their use
of information and communication technology to help their global missions implement in-country aid programs. For
example, we installed a wireless network infrastructure for the Government of Haiti and helped bring phone and Internet
access to villages in Vietnam.

EXISTING CONTRACT PROFILE
     Contract Types. As of June 30, 2007 we had over 900 active contract engagements, each employing one of three
types of price structures: cost-plus-fee, time-and-materials, and fixed-price.
      Cost-plus-fee contracts. Cost-plus-fee contracts provide for reimbursement of allowable costs and the payment of
a fee, which is our profit. Cost-plus-fixed-fee contracts specify the contract fee in dollars. Cost-plus-award-fee contracts
may provide for a base fee amount plus an award fee that varies, within specified limits, based upon the client’s assessment
of our performance as compared to contractual targets for factors such as cost, quality, schedule, and performance.
      Time-and-materials contracts. Under a time-and-materials contract, we are paid a fixed hourly rate for each direct
labor hour expended and we are reimbursed for allowable material costs and out-of-pocket expenses. To the extent our
actual direct labor and associated costs vary in relation to the fixed hourly billing rates among various labor categories
provided in the contract, we will generate more or less profit or could incur a loss.
      Fixed-price contracts. Under a fixed-price contract, we agree to perform the specified work for a pre-determined
price. To the extent our actual costs vary from the estimates upon which the price was negotiated, we will generate more
or less than the anticipated amount of profit or could incur a loss. Some fixed-price contracts have a performance-based
component, pursuant to which we can earn incentive payments or incur financial penalties based on our performance. We
generally do not undertake complex, high-risk work under fixed-price terms.
      Our historical contract mix, measured as a percentage of total revenue for the periods indicated, is summarized in
the table below.
                                                                                                       year Ended June 30,
                                                                                                     2007    2006      2005
                     Cost-plus-fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   43%      45%      46%
                     Time-and-materials . . . . . . . . . . . . . . . . . . . . . . . . . .          42       40       34
                     Fixed-price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   15       15       20

     Government Wide Acquisition Contracts and GSA Schedule Contracts. We are a leading supplier of technology
and strategic consulting services and solutions to federal government clients under GWACs and are currently a prime
contractor on three of the four largest information technology services GWACs, measured by the aggregate dollar
amount of delivery order awards as of June 30, 2007. We also hold six GSA schedule contracts: Schedule 70, MOBIS,
Environmental Advisory Services, Professional Engineering Services, Training and Course Development, and Logistics
Worldwide. Despite recent reorganization challenges at GSA, GWACs and GSA schedule contracts remain popular
contract award methods, offering flexible, cost-effective, and rapid procurement processes.



                                                                             14
     The following table sets forth our GSA schedule contracts and the GWAC contracts on which we currently act as a
prime contractor. The period of performance indicated below includes all option years.
Contract name                                                           Host agency   Period of performance         Contract ceiling value
                                                                                                                           (in billions)
CIO-SP2i . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      NIH           December 2000–December 2010      $        20.0
Millennia. . . . . . . . . . . . . . . . . . . . . . . . . . . . .      GSA FAS       April 1999–April 2009                     25.0
Millennia Lite . . . . . . . . . . . . . . . . . . . . . . . . .        GSA FAS       June 2000–June 2010                       20.0
Alliant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   GSA FAS       August 2007–August 2017                   50.0
GSA Schedule 70 . . . . . . . . . . . . . . . . . . . . . .             GSA FAS       May 1997–August 2007                 No ceiling
GSA MOBIS . . . . . . . . . . . . . . . . . . . . . . . . . .           GSA FAS       June 1998–September 2007             No ceiling
GSA EAS . . . . . . . . . . . . . . . . . . . . . . . . . . . .         GSA FAS       September 1999–August 2009           No ceiling
GSA PES . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       GSA FAS       October 2000–October 2010            No ceiling
GSA LOGWORLD . . . . . . . . . . . . . . . . . . . . .                  GSA FAS       August 2004–August 2009              No ceiling
GSA Training and Course Development . . . .                             GSA FAS       December 2006-December 2011          No ceiling

      Revenue under our GWAC and GSA schedule contracts accounted for 54% of our total federal government revenue
in fiscal year 2007, 59% in fiscal year 2006 and 60% in fiscal year 2005.
      We were awarded a prime contract by GSA under the new Alliant contract in 2007. Although GSA’s intent is for
Alliant to replace the Millennia and ANSWER contracts, task orders on the Millennia contract may be extended for up
to five years beyond April 2009, the current end date for its period of performance.

BACKLOG
      As of June 30, 2007, our backlog was approximately $3.4 billion, of which $600.4 million was funded. As of June
30, 2006, our backlog was $3.3 billion, of which $512.8 million was funded. We define backlog to include funded and
unfunded orders for services under existing signed contracts, assuming the exercise of all options relating to those
contracts, less the amount of revenue we have previously recognized under those contracts. Backlog includes all contract
options that have been priced but not yet funded. Backlog also includes the contract value under single award ID/IQ
contracts against which we expect future task orders to be issued without competition. Backlog does not take contract
ceiling value into consideration under multiple award contracts, nor does it include any estimate of future potential
delivery orders that might be awarded under multiple award ID/IQ vehicles, GWACs, or GSA schedule contracts. We
define funded backlog to be the portion of backlog for which funding currently is appropriated and obligated to us under
a contract or other authorization for payment signed by an authorized purchasing authority.
      We currently expect to recognize revenue during fiscal year 2008 from approximately 25% of our total backlog as
of June 30, 2007. Our backlog includes orders under contracts that in some cases extend for several years, with the latest
expiring at the end of calendar year 2016.
      We cannot guarantee that we will recognize any revenue from our backlog. The federal government has the
prerogative to cancel any contract or delivery order at any time. Most of our contracts and delivery orders have cancellation
terms that would permit us to recover all or a portion of our incurred costs and potential fees in such cases. Backlog
varies considerably from time to time as current contracts or delivery orders are executed and new contracts or delivery
orders under existing contacts are won. Our estimate of the portion of the backlog as of June 30, 2007 from which we
expect to recognize revenue during fiscal year 2008 is likely to be inaccurate because the receipt and timing of any
revenue is subject to various contingencies, many of which are beyond our control.

SUBCONTRACTORS
      When we act as a prime contractor, as we typically do, we derive revenue primarily through our own direct labor
services, but also through the efforts of our subcontractors. As part of the contract bidding process, we may enter
into teaming agreements with subcontractors to enhance our ability to bid on large, complex engagements or to more
completely address a particular client’s requirements. Teaming agreements and subcontracting relationships are useful
because they permit us as a prime contractor to compete more effectively on a wider range of projects. In addition, we
may engage a subcontractor to perform a discrete task on a project, or a subcontractor may approach us because of our
position as a prime contractor. When we are a prime contractor on an engagement, we are ultimately responsible for
the overall engagement as well as the performance of our subcontractors. Revenue derived from work performed by



                                                                                 15
subcontractors represented approximately 29%, 30%, and 32% of our revenue for fiscal year 2007, 2006, and 2005,
respectively. No single subcontractor performed work that accounted for more than 5% of our revenue during any of the
last three fiscal years.

APPLIED RESEARCH AND DEVELOPMENT AND INTELLECTUAL PROPERTy
      We are dedicated to giving our clients the innovative solutions they need to meet their most difficult technology
challenges, both now and in the future. Our research and development, or R&D, team works with professionals across
the company to assess client needs and ensure that our investments focus on meeting them.
      For over 25 years, we have pursued internally- and government-funded R&D in such areas as data mining, natural
language understanding, knowledge management, information assurance, and wireless applications. We continue to use
our domain expertise and advanced technical knowledge to anticipate, identify, and develop forward-looking technologies
to enable clients to meet their mission objectives.
     We rely upon a combination of nondisclosure and other contractual arrangements and copyright, trademark,
patent, and trade secret laws to protect our proprietary rights. We also enter into confidentiality and intellectual property
agreements with all of our employees that require them to disclose any inventions created during employment, that
convey all rights to inventions to us, and that restrict the distribution of proprietary information.

CLIENTS
      Our federal government clients typically exercise independent contracting authority, and even offices or divisions
within an agency or department may directly, or through a prime contractor, use our services as a separate client so
long as that client has independent decision-making and contracting authority within its organization. We consider each
office or division within an agency or department, which engages us directly or through a prime contractor, to be a
separate client. The National Guard, as a client group, accounted for approximately 10%, and 11% of our revenue in fiscal
years 2006, and 2005, respectively. The United States Agency for International Development, as a client, accounted for
approximately 10%, and 12% of our revenue in fiscal years 2006, and 2005, respectively. No other client or client group
accounted for more than 10% of our revenue in any of the last three fiscal years.
      In our fiscal year ended June 30, 2007, federal government clients accounted for 99% of our revenue, with
approximately 1% attributable to commercial clients. In our fiscal year ended June 30, 2007, we derived approximately 58%
of our revenue from national security clients, approximately 31% from civilian agencies and departments, approximately
9% from health care and public health clients, and approximately 1% from commercial clients. We currently support 14
of the 15 federal departments in the executive branch, all branches of the military services, and the judicial and legislative
branches of the federal government.




                                                             16
              The following table sets forth some of our current clients for each of our federal government businesses.
                                             Selected current federal government clients
            National security                            Civil government                            Health care and public health
Department of Defense:                   Department of the Treasury:                      Department of Health and Human Services:
   Department of the Army                   Internal Revenue Service                         Office of the Secretary
   Department of the Navy                   U.S. Mint                                        National Institutes of Health
   Department of the Air Force           Department of Education                             Food and Drug Administration
   U.S. Army Reserves                    Department of Energy                                Centers for Disease Control and Prevention
   U.S. Marine Corps                     Department of Justice                               Health Resources and Services Administration
   Joint Chiefs of Staff                 Department of the Interior                          Administration for Children and Families
   U.S. Transportation Command           Department of Labor                                 Centers for Medicare & Medicaid Services
   Air Mobility Command                  Department of State                              Department of Defense:
   Military Sealift Command                 U.S. Agency for International Development         Assistant Secretary of Defense for Health
   Surface Deployment and Distribution   Department of Commerce                                  Affairs
      Command                            Department of Veterans Affairs                       Army Medical Command
   U.S. Army Forces Command              Department of Transportation:                        Office of the Army Surgeon General
   Office of the Secretary of Defense       Federal Aviation Administration
   Defense Manpower Data Center          Department of Agriculture
   Defense Advanced Research Projects    U.S. Peace Corps
      Agency                             Environmental Protection Agency
   Defense Logistics Agency              Small Business Administration
   Defense Information Systems Agency    National Archives and Records Administration
National Guard Bureau                    Library of Congress
Various intelligence agencies            General Services Administration
Department of Homeland Security          Government Accountability Office
Defense Threat Reduction Agency          Administrative Office of the U.S. Courts
                                         Pension Benefit Guaranty Corporation
                                         National Science Foundation
                                         Office of Personnel Management
                                         Federal Deposit Insurance Corporation
                                         Securities and Exchange Commission
                                         Executive Office of the President
                                           Office of Management and Budget
                                         US Nuclear Regulatory Commission

        SALES AND MARKETING
              We have a highly disciplined sales and marketing process that relies upon the business units addressing each of our
        target markets to further penetrate and build-out their existing accounts and our centralized federal sales and marketing
        organization to win new competitive procurements. Primary responsibility for selling additional services to existing
        clients, including client account build-out and capture of follow-on work, rests with our business units. Recognizing
        the importance of client account management, we assign entrepreneurial managers and executives to oversee our major
        accounts.
              Primary responsibility for identifying, qualifying, bidding, and winning new competitive procurements, either
        for new clients or for large strategic new programs within existing clients, rests with our centralized federal sales and
        marketing organization. We have approximately 70 experienced sales and marketing professionals that perform business
        development, task order sales, corporate communications, procurement support, pricing, and proposal development.
        Members of our sales and marketing organization work closely with their counterparts in our business units as we
        compete to win new business.

        COMPETITION
              We compete to win single award contracts and multiple award contracts, such as agency-specific indefinite delivery/
        indefinite quantity, GWACs, and GSA schedule contracts. After we have won a multiple award contract, we then compete
        for individual delivery orders under the contract. For example, GSA schedule contracts and prime contractor positions
        on GWACs are typically awarded to multiple contractors. A multiple award contract will list both the providers and the
        labor categories of products and services that can be performed under the contract. An individual agency that desires to
        obtain a service typically invites approved providers to compete based on technological expertise, resources, price, or
        some other basis.

                                                                   17
     We encounter many of the same competitors in each of our three target markets. These competitors include:

     •     Federal systems integrators such as Booz Allen Hamilton Inc., CACI International Inc., Computer Sciences
           Corporation, Electronic Data Systems Corporation, ManTech International Corporation, Science Applications
           International Corporation, and Unisys Corporation;

     •     Divisions of large defense contractors such as General Dynamics Corporation, Lockheed Martin Corporation,
           Northrop Grumman Corporation, and Raytheon Company;

     •     Consulting firms such as Accenture Ltd, BearingPoint, Inc., and International Business Machines Corporation;
           and

     •     Other smaller and specialized government information technology contractors.

EMPLOyEES AND CORPORATE CULTURE
      Our success as a technology and strategic consulting services and solutions company is highly dependent on our
employees. We believe we have been successful in developing a culture that enables our employees to succeed. We
emphasize three essential attributes—an ethic of honesty and service, quality work and client satisfaction, and caring
about our people. We reinforce these principles regularly in our recruiting process, training programs, proposals, company
meetings, and internal communications. Our active recruiting effort is aligned with our strategic business units and relies
heavily on employee referrals in addition to a variety of other recruiting methods. Our primary source of our new recruits
is employee referrals, which accounted for approximately 51% of our new hires in fiscal 2007. We have found these
referrals to be a reliable source of excellent employees. As a result of our continued focus on our employees, in 2007 we
were named by FORTUNE magazine as one of the “100 Best Companies to Work for” for the eighth consecutive year.
     As of June 30, 2007, we had over 5,200 employees. Over two-thirds of our employees have federal government
security clearances. Approximately 97% of our employees are professionals or managers with technology or domain
expertise, and approximately 3% are administrative managers or support specialists. Our professional staff is highly
educated, with approximately one-third holding advanced degrees. We have no employees represented by collective
bargaining agreements, and we consider our relations with our employees to be good.

CORPORATE INFORMATION
     We were incorporated as Systems Research and Applications Corporation in Virginia in 1976 and began operations
in 1978. We reincorporated in Delaware as SRA International, Inc. in 1984. We generally contract with the federal
government through our wholly-owned subsidiary, Systems Research and Applications Corporation, but we do business
as SRA International, Inc.

WEBSITE ACCESS TO SEC REPORTS
      Our Internet website can be found at http://www.sra.com. Information contained on our Internet website is not part of
this report. Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and any
amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934,
and the Section 16 filings of our officers, directors, and shareholders beneficially owning 10% or more of our common
stock are available on our website, free of charge, as soon as reasonably practicable after such reports are filed with or
furnished to the SEC. Alternatively, you may access these reports at the SEC’s Internet website: http://www.sec.gov.




                                                            18
EXECUTIVE OFFICERS OF THE REGISTRANT
       Our executive officers and their ages as of July 31, 2007, are as follows:
                        Name                             Age                                 Title

Stanton D. Sloane . . . . . . . . . . . . . . . . . .    56    President and chief executive officer
Stephen C. Hughes . . . . . . . . . . . . . . . . .      50    Chief financial officer and executive vice president operations
Barry S. Landew . . . . . . . . . . . . . . . . . . .    48    Executive vice president for strategic development
Ernst Volgenau . . . . . . . . . . . . . . . . . . . .   73    Chairman of board of directors
     Stanton D. Sloane joined us in April 2007 as our president and chief executive officer. He became a member of
the Board of Directors in August 2007. Previously, Dr. Sloane served as executive vice president for Integrated Systems
and Solutions at Lockheed Martin Corporation from 2004 to 2007 and as president for Lockheed Martin Management/
Data Systems from 2003 to 2004. He began his career with General Electric Aerospace in 1984 and progressed through
engineering, program management, and business development assignments in a variety of General Electric Aerospace
and subsequently Lockheed Martin businesses. Dr. Sloane also served as an officer in the United States Navy.
      Stephen C. Hughes is our chief financial officer and executive vice president operations. He has served as our chief
financial officer since March 1996 and became executive vice president in August 2005. From May 1993 to August 2005
he served as senior vice president of finance and accounting. From March 1989 to May 1993, he was our vice president of
finance; from April 1986 to March 1989, he served as our comptroller; and from 1984 to 1986, he served as our manager
of accounting. Mr. Hughes practiced in the computer audit and tax groups of Coopers and Lybrand, which is now a part
of PricewaterhouseCoopers LLP, from 1983 to 1984.
     Barry S. Landew is our executive vice president for strategic development. He has served as our vice president for
corporate development from 1989 through April 1993 and became executive vice president in August 2005. From 1980 to
1989, he served in various positions with us, including software engineer, program manager, and the head of marketing
and sales and proposal development.
      Ernst Volgenau is our founder and has served as our chairman of the Board of Directors since October 2003. He
served as the Company’s chief executive officer from October 2003 until December 2004. From 1978 to October 2003,
he served as the Company’s president and as a director. From 1976 to 1978, he served as the director of inspection and
enforcement for the U.S. Nuclear Regulatory Commission. Dr. Volgenau retired from active duty with the U.S. Air Force
as Colonel in 1976. His military service included positions in the Office of the Secretary of Defense and as director of
data automation for the Air Force Logistics Command.

Item 1A. RISK FACTORS

Risks Related To Our Industry

A reduction in the U.S. defense budget or the diversion of funding from IT services and solutions to support the war
against terrorism or the reconstruction of Iraq could result in a substantial decrease in our revenue.
      Revenue from contracts with clients in the Department of Defense and the National Guard accounted for 48%, 49%,
and 53% of our revenue for the fiscal years ended June 30, 2007, 2006, and 2005, respectively. A decline in overall U.S.
military expenditures, or in the portion of those expenditures allocated to information technology services and solutions,
could cause a decrease in our revenue and profitability. The reduction in the U.S. defense budget during the early 1990s
caused some defense-related government contractors to experience decreased sales, reduced operating margins and, in
some cases, net losses. Defense spending levels may not continue at present levels, and future levels of expenditures and
authorizations for existing programs may decline, remain constant, or shift to agencies or programs in areas where we do
not currently have contracts. A significant decline in defense expenditures, or a shift in expenditures away from agencies
or programs that we support, could cause a material decline in our revenue.

A reduction in U.S. civil government agency budgets, including a reduction caused by the diversion of funding to
support the war against terrorism, the reconstruction of Iraq, or natural disaster recovery could result in a substantial
decrease in our revenue.




                                                                  19
      Revenue from contracts with civil agency clients accounted for 51%, 50%, and 46% of our revenue for the fiscal
years ended June 30, 2007, 2006, and 2005, respectively. We expect civil agency clients will continue to represent a
substantial portion of our future revenue. A decline in expenditures by civil agencies, or in the portion of those
expenditures allocated to information technology services and solutions, could cause a material decrease in our revenue
and profitability. In particular, a shift of funds away from civil agencies to pay for programs within other agencies, for
example the Department of Defense, to reduce federal budget deficits, or to fund tax reductions, could cause a material
decline in our revenue. In particular, it is possible that funding for civil agencies may be diverted to support the ongoing
war against terrorism, the reconstruction of Iraq, natural disaster recovery, or other international conflicts.

Changes in the spending policies or budget priorities of the federal government could cause us to lose revenue.
    We derived 99% of our revenue for all periods presented herein from contracts with federal government agencies.
Accordingly, changes in federal government fiscal or spending policies could directly affect our financial performance.
Among the factors that could harm our federal government contracting business are:

     •     the curtailment of the federal government’s use of technology services firms;

     •     a significant decline in spending by the federal government in general, or by specific departments or agencies
           in particular;

     •     a reduction in spending or shift of expenditures from existing programs to pay for an international conflict or
           related reconstruction efforts;

     •     a failure of Congress to pass adequate supplemental appropriations to pay for an international conflict, or to
           pay for the cost of related reconstruction efforts;

     •     reductions in federal government programs or requirements;

     •     the adoption of new laws or regulations that affect companies that provide services to the federal
           government;

     •     delays in the payment of our invoices by government payment offices;

     •     new legislation, procurement regulations, or union pressure that cause federal agencies to adopt restrictive
           procurement practices regarding the use of outside information technology providers;

     •     changes in policy and goals by the government providing set aside funds to small businesses, disadvantaged
           businesses, and other socio-economic requirements in the allocation of contracts; and

     •     general economic and political conditions.
     These or other factors could cause federal government agencies and departments to reduce their purchases under
contracts, to exercise their right to terminate contracts, or not to exercise options to renew contracts, any of which could
cause us to lose revenue. We have substantial contracts in place with many federal departments and agencies, and our
continued performance under these contracts, or award of additional contracts from these agencies, could be materially
harmed by federal government spending reductions or budget cutbacks at these departments or agencies.

The failure by Congress to approve budgets on a timely basis for the federal agencies we support could delay or reduce
spending and cause us to lose revenue.
      On an annual basis, Congress must approve budgets that govern spending by each of the federal agencies we
support. When Congress is unable to agree on budget priorities and is unable to pass the annual budget on a timely
basis, Congress typically enacts a continuing resolution. A continuing resolution allows government agencies to operate
at spending levels approved in the previous budget cycle. When government agencies must operate under a continuing
resolution, it may delay funding we expect to receive from clients on work we are already performing and will likely
result in any new initiatives being delayed, and potentially cancelled.




                                                            20
The Office of Management and Budget process for ensuring government agencies properly support capital planning
initiatives, including information technology investments, could reduce or delay federal information technology
spending and cause us to lose revenue.
      The Office of Management and Budget, or OMB, supervises spending by federal agencies, including enforcement
of the Government Performance Results Act. This Act requires, among other things, that federal agencies make an
adequate business justification to support capital planning initiatives, including all information technology investments.
The factors considered by the OMB include, among others, whether the proposed information technology investment is
expected to achieve an appropriate return on investment, whether related processes are contemporaneously reviewed,
whether inter-operability with existing systems and the capacity for these systems to share data across government has
been considered, and whether existing off-the-shelf products are being utilized to the extent possible. If our clients do not
adequately justify proposed information technology investments to the OMB, the OMB may refuse funding for their new
or continuing information technology investments, and we may lose revenue as a result.

Federal government contracts contain provisions giving government clients a variety of rights that are unfavorable
to us, including the ability to terminate a contract at any time for convenience.
       Federal government contracts contain provisions and are subject to laws and regulations that provide government
clients with rights and remedies not typically found in commercial contracts. These rights and remedies allow government
clients, among other things, to:

     •     terminate existing contracts, with short notice, for convenience, as well as for default;

     •     reduce or modify contracts or subcontracts;

     •     terminate our facility security clearances and thereby prevent us from receiving classified contracts;

     •     cancel multi-year contracts and related orders if funds for contract performance for any subsequent year
           become unavailable;

     •     decline to exercise an option to renew a multi-year contract;

     •     claim rights in products, systems, and technology produced by us;

     •     prohibit future procurement awards with a particular agency due to a finding of organizational conflict
           of interest based upon prior related work performed for the agency that would give a contractor an unfair
           advantage over competing contractors;

     •     subject the award of GSA schedule contracts, GWACs, and other ID/IQ contracts to protest by competitors,
           which may require the contracting federal agency or department to suspend our performance pending
           the outcome of the protest and may also result in a requirement to resubmit bids for the contract or in the
           termination, reduction, or modification of the awarded contract; and

     •     suspend or debar us from doing business with the federal government or with a particular governmental
           agency.
      If a government client terminates one of our contracts for convenience, we may recover only our incurred or
committed costs, settlement expenses, and profit on work completed prior to the termination. If a federal government
client were to unexpectedly terminate, cancel, or decline to exercise an option to renew with respect to one or more of our
significant contracts or suspend or debar us from doing business with government agencies, our revenue and operating
results would be materially harmed.

Our failure to comply with complex procurement laws and regulations could cause us to lose business and subject us
to a variety of penalties.
     We must comply with laws and regulations relating to the formation, administration, and performance of federal
government contracts, which affect how we do business with our government clients and may impose added costs on our
business. Among the most significant regulations are:




                                                             21
     •     the Federal Acquisition Regulation, and agency regulations analogous or supplemental to the Federal Acquisition
           Regulation, which comprehensively regulate the formation, administration, and performance of government
           contracts, including provisions relating to the avoidance of conflicts of interest and intra-organizational
           conflicts of interest;

     •     the Truth in Negotiations Act, which requires certification and disclosure of all cost and pricing data in
           connection with some contract negotiations;

     •     the Procurement Integrity Act, which requires evaluation of ethical conflicts surrounding procurement activity
           and establishing certain employment restrictions for individuals who participate in the procurement process;

     •     the Cost Accounting Standards, which impose accounting requirements that govern our right to reimbursement
           under some cost-based government contracts;

     •     laws, regulations, and executive orders restricting the use and dissemination of information classified for
           national security purposes and the exportation of specified products, technologies, and technical data;

     •     laws surrounding lobbying activities a corporation may engage in and operation of a Political Action Committee
           established to support corporate interests; and

     •     compliance with antitrust laws.
      If a government review or investigation uncovers improper or illegal activities, we may be subject to civil and
criminal penalties and administrative sanctions, including termination of contracts, forfeiture of profits, harm to our
reputation, suspension of payments, fines, and suspension or debarment from doing business with federal government
agencies. The government may in the future reform its procurement practices or adopt new contracting rules and
regulations, including cost accounting standards, that could be costly to satisfy or that could impair our ability to obtain
new contracts. Any failure to comply with applicable laws and regulations could result in contract termination, price or
fee reductions, or suspension or debarment from contracting with the federal government, each of which could lead to a
material reduction in our revenue.

Risks Related To Our Business

We depend on contracts with U.S. federal government agencies for substantially all of our revenue, and if our
relationships with these agencies were harmed, our business would be threatened.
      Revenue from contracts with U.S. federal government agencies accounted for 99% of our revenue for all periods
presented herein. Revenue from contracts with clients in the Department of Defense and the National Guard accounted
for 48%, 49%, and 53%, of our revenue for the fiscal years ended June 30, 2007, 2006, and 2005, respectively. For this
reason, any issue that compromises our relationship with agencies of the federal government in general, or within the
Department of Defense and the National Guard in particular, would cause serious harm to our business.
      Among the key factors in maintaining our relationships with federal government agencies and departments are our
performance on individual contracts and delivery orders, the strength of our professional reputation, and the relationships
of our senior management with client personnel. The loss of any member of our senior management could impair our
ability to identify and secure new contracts and to maintain good client relations. Additionally, to the extent that our
performance does not meet client expectations, or our reputation with one or more key clients is impaired, our revenue
and operating results could be materially harmed.

We face intense competition from many competitors that have greater resources than we do, which could result in
price reductions, reduced profitability, and loss of market share.
      We operate in highly competitive markets and generally encounter intense competition to win contracts. If we are
unable to successfully compete for new business or win recompetitions of existing business, our revenue growth and
operating margins may decline. Many of our competitors are larger and have greater financial, technical, marketing,
and public relations resources, larger client bases, and greater brand or name recognition than we do. Larger competitors
include federal systems integrators such as Computer Sciences Corporation and Science Applications International
Corporation, divisions of large defense contractors such as General Dynamics Corporation, Lockheed Martin Corporation,
and Northrop Grumman Corporation, and consulting firms such as Accenture Ltd. and BearingPoint, Inc. Our larger
competitors may be able to compete more effectively for very large-scale government contracts. Our larger competitors



                                                            22
also may be able to provide clients with different or greater capabilities or benefits than we can provide in areas such
as technical qualifications, past performance on large-scale contracts, geographic presence, the ability to provide a
broader range of services without creating conflicts of interest or intra-organizational conflicts of interest, price, and the
availability of key professional personnel. Our competitors also have established or may establish relationships among
themselves or with third parties, including through mergers and acquisitions, to increase their ability to address client
needs. Accordingly, it is possible that new competitors or alliances among competitors may emerge.

We derive significant revenue from contracts awarded through a competitive bidding process, which can impose
substantial costs upon us, and we will lose revenue if we fail to compete effectively.
     We derive significant revenue from federal government contracts that are awarded through a competitive bidding
process. We expect that most of the government business we seek in the foreseeable future will be awarded through
competitive bidding. Competitive bidding imposes substantial costs and presents a number of risks, including:

     •     the need to bid on engagements in advance of knowing the complete design or full requirements, which may
           result in unforeseen difficulties in executing the engagement and cost overruns;

     •     the substantial cost and managerial time and effort that we spend to prepare bids and proposals for contracts
           that may not be awarded to us;

     •     the need to accurately estimate the resources and costs that will be required to service any contract we are
           awarded;

     •     the possibility that difficult market conditions will cause our competitors to strive for growth by reducing their
           bid pricing and compel us to choose between bidding at unprofitable levels or losing contracts and foregoing
           revenue;

     •     the expense and delay that may arise if our competitors protest or challenge contract awards made to us
           pursuant to competitive bidding, and the risk that any such protest or challenge could result in the resubmission
           of bids on modified specifications, or in termination, reduction, or modification of the awarded contract; and

     •     the opportunity cost of not bidding on and winning other contracts we might otherwise pursue.
      To the extent we engage in competitive bidding and are unable to win particular contracts, we not only incur
substantial costs in the bidding process that would negatively affect our operating results, but we may be precluded
from operating in the market for services that are provided under those contracts for a number of years. Even if we win
a particular contract through competitive bidding, our profit margins may be depressed as a result of the costs incurred
through the bidding process.

Loss of our General Services Administration, or GSA, schedule contracts or our position as a prime contractor on
one or more of our government-wide acquisition contracts, or GWACs, or our other multiple-award contracts would
impair our ability to win new business.
     We believe that one of the key elements of our success is our position as the holder of six GSA schedule contracts
and as a prime contractor under three GWACs and more than 35 agency-specific indefinite delivery/indefinite quantity,
or ID/IQ, contracts. For the fiscal years ended June 30, 2007, 2006, and 2005, revenue from GSA schedule contracts,
GWACs, and other ID/IQ contracts accounted for approximately 77%, 76%, and 77%, respectively, of our revenue from
federal government clients. If we were to lose our position on one or more of these contracts, we could lose revenue and
our operating results could suffer.
      The Department of Defense has issued guidance providing that procurements of services that are not performance-
based or that are to be procured using a contract vehicle outside of the Department of Defense must be approved in
advance. This could result in the Department of Defense limiting its future use of GWACs and GSA schedule contracts.
Initiatives taken by the Department of Defense or other government agencies and departments, or the impact of the
ongoing reorganization by the GSA, could cause services we provide on existing contracts to migrate to contract vehicles
on which we are not a prime contractor. Should this occur, our ability to compete for business from these organizations
in the future may be harmed.
     Orders under GSA schedule contracts, GWACs, and other ID/IQ contracts typically have a one- or two-year initial
term with multiple options that may be exercised by our government clients to extend the contract for successive periods
of one or more years. We can provide no assurance that our clients will exercise these options.



                                                             23
If subcontractors on our prime contracts are able to secure positions as prime contractors, we may lose revenue.
      For each of the past several years we have received substantial revenue from government clients relating to work
performed by other information technology providers acting as subcontractors to us. In some cases, companies that have
not held GSA schedule contracts or secured positions as prime contractors on GWACs have approached us in our capacity
as a prime contractor, seeking to perform services as our subcontractor for a government client. Some of these providers
that are currently acting as subcontractors to us may in the future secure positions as prime contractors. If one or more
of our current subcontractors are awarded prime contractor status in the future, it could reduce or eliminate our revenue
for the work they were performing as subcontractors to us. Revenue derived from work performed by our subcontractors
represented approximately 29%, 30%, and 32% of our revenue for the fiscal years ended June 30, 2007, 2006, and 2005,
respectively.

If our subcontractors fail to perform their contractual obligations, our performance and reputation as a prime
contractor and our ability to obtain future business could suffer.
      As a prime contractor, we often rely significantly upon other companies as subcontractors to perform work
we are obligated to deliver to our clients. Revenue derived from work performed by our subcontractors represented
approximately 29%, 30%, and 32% of our revenue for the fiscal years ended June 30, 2007, 2006, and 2005, respectively.
A failure by one or more of our subcontractors to satisfactorily perform the agreed-upon services on a timely basis may
compromise our ability to perform our obligations as a prime contractor. In some cases, we have limited involvement in
the work performed by the subcontractor and may have exposure as a result of problems caused by the subcontractor. In
extreme cases, performance deficiencies on the part of our subcontractors could result in a government client terminating
our contract for default. A default termination could expose us to liability for the agency’s costs of re-procurement,
damage our reputation, and hurt our ability to compete for future contracts. Additionally, we may have disputes with our
subcontractors that could impair our ability to execute our contracts as required.

Our quarterly operating results may fluctuate significantly as a result of factors outside of our control, which could
cause the market price of our class A common stock to decline.
     Our revenue and operating results could vary significantly from quarter to quarter. In addition, we cannot predict
with certainty our future revenue or results of operations. As a consequence, our operating results may fall below the
expectations of securities analysts and investors, which could cause the price of our class A common stock to decline.
Factors that may affect our operating results include:

     •     fluctuations in revenue earned on contracts;

     •     commencement, completion, or termination of contracts during any particular quarter;

     •     variable purchasing patterns under GSA schedule contracts, GWACs, and agency-specific indefinite delivery/
           indefinite quantity contracts;

     •     providing services under a share-in-savings or performance-based contract;

     •     additions and departures of key personnel;

     •     strategic decisions by us or our competitors, such as acquisitions, divestitures, spin-offs, joint ventures,
           strategic investments, or changes in business strategy;

     •     timing of significant bid and proposal costs;

     •     contract mix, the extent of use of subcontractors, and the level of third-party hardware and software purchases
           for customers;

     •     changes in presidential administrations and senior federal government officials or their priorities that affect
           the timing of technology procurement;

     •     changes in policy or budgetary measures that adversely affect government contracts in general;

     •     interruption by events beyond our control such as earthquakes, power losses, telecommunications failures,
           hurricanes, and incidents of terrorism; and

     •     the seasonality of our business.




                                                           24
      Reductions in revenue in a particular quarter could lead to lower profitability in that quarter because a relatively
large amount of our expenses are fixed in the short-term. We may incur significant operating expenses during the start-up
and early stages of large contracts and may not receive corresponding payments or revenue in that same quarter. We may
also incur significant or unanticipated expenses when contracts expire, when they are terminated, or when they are not
renewed. In addition, payments due to us from government agencies may be delayed due to billing cycles or as a result of
failures of governmental budgets to gain Congressional and administration approval in a timely manner.

If we fail to attract and retain skilled employees, we might not be able to staff recently awarded engagements and
sustain our profit margins and revenue growth.
      We must hire significant numbers of highly qualified individuals who have advanced information technology and
technical services skills and who work well with our clients in a government environment. In some cases, they are required
to have security clearances issued by the Department of Defense or other government agencies. These employees are in
great demand and are likely to remain a limited resource for the foreseeable future. If we are unable to recruit and retain
a sufficient number of these employees, our ability to staff recently awarded engagements and to maintain and grow our
business could be limited. We are operating in a tight labor market and, if it continues to tighten, we could be required to
engage larger numbers of subcontractor personnel, which could cause our profit margins to suffer. In addition, some of
our contracts contain provisions requiring us to commit to staff an engagement with personnel the client considers key to
our successful performance under the contract. In the event we are unable to provide these key personnel or acceptable
substitutions, the client may terminate the contract, and we may not be able to recover our costs.

We may lose revenue and our cash flow and profitability could be negatively affected if expenditures are incurred
prior to final receipt of a contract or contract funding modification.
      We provide professional services and sometimes procure materials on behalf of our government clients under
various contract arrangements. From time to time, in order to ensure that we satisfy our clients’ delivery requirements
and schedules, we may elect to initiate procurements or provide services in advance of receiving formal contractual
authorization from the government client or a prime contractor. If our government or prime contractor requirements
should change or the government directs the anticipated procurement to a contractor other than us, or if the materials
become obsolete or require modification before we are under contract for the procurement, our investment might be
at risk. If we do not receive the required funding, our cost of services incurred in excess of contractual funding may
not be recoverable. This could reduce anticipated revenue or result in a loss, negatively affecting our cash flow and
profitability.

We may lose money on some contracts if we underestimate the resources we need to perform under the contract.
       We provide services to the federal government under three types of contracts: cost-plus-fee, time-and-materials,
and fixed-price. For the fiscal year ended June 30, 2007, we derived 43%, 42%, and 15% of our revenue from cost-plus-
fee, time-and-materials, and fixed-price contracts, respectively. Each of these types of contracts, to differing degrees,
involves the risk that we could underestimate our cost of fulfilling the contract, which may reduce the profit we earn or
lead to a financial loss on the contract.

     •     Under cost-plus-fee contracts, which are subject to a ceiling amount, we are reimbursed for allowable costs
           and paid a fee, which may be fixed or performance-based. However, if our costs exceed the ceiling or are
           not allowable under the terms of the contract or applicable regulations, we may not be able to recover those
           costs.

     •     Under time-and-materials contracts, we are reimbursed for labor at negotiated hourly billing rates along with
           the cost of certain expenses, and we assume the risk that our costs of performance may exceed the negotiated
           hourly rates.

     •     Under fixed-price contracts, we perform specific tasks for a fixed price. Compared to cost-plus-fee contracts
           and time-and-materials contracts, fixed-price contracts involve greater financial risk due to the potential for
           cost overruns. To the extent our actual costs exceed the estimates upon which the price was negotiated, we
           will generate less than the anticipated amount of profit or could incur a loss.
     For all three contract types, we bear varying degrees of risk associated with the assumptions we use to formulate
our pricing for the work. To the extent our working assumptions prove inaccurate, we may lose money on the contract,
which would adversely affect our operating results.



                                                            25
We may lose money or incur financial penalties if we agree to provide services under a performance-based contract
arrangement.
      Under certain performance-based contract arrangements, we are paid only to the extent our customer actually
realizes savings or achieves some other performance-based improvements that result from our services. In addition, we
may also incur certain penalties. Performance-based contracts could impose substantial costs and risks, including:

     •     the need to accurately understand and estimate in advance the improved performance that might result from
           our services;

     •     the lack of experience both we and our primary customers have in using this type of contract arrangement;
           and

     •     the requirement that we incur significant expenses with no guarantee of recovering these expenses or realizing
           a profit in the future.
      Even if we successfully execute a performance-based contract, our interim operating results and cash flows may
be negatively affected by the fact that we may be required to incur significant up-front expenses prior to realizing any
related revenue.

Contracts with state and local governments, other governments, international entities, or other organizations with
special standing, could impose substantial additional liability and costs upon us.
      As organizations seek to enhance their security, particularly state and local governments, other governments,
international entities, and other organizations with special standing, such as the World Bank, we have the opportunity to
expand our services beyond our core federal government client base. Contracting with such entities involves additional
risks that may result in additional costs to us, including:

     •     the additional costs associated with evaluating, qualifying, and negotiating such opportunities;

     •     a requirement to understand and comply with the specific procurement laws and/or regulations of each
           individual state, locality, other government, international entity, or other party with special standing;

     •     the contractual acceptance of liability provisions that impose, for example, liquidated damages or other
           monetary damages in excess of the amount of services we provide, which in some cases are unlimited;

     •     the unavailability of certain protections that would typically be available under federal or common law; and

     •     an increased risk of additional costs associated with dispute resolution.

International sales may pose potentially greater risks.
      International business may pose greater risks than domestic business due to the potential for changes in foreign
economic, regulatory and political environments. International business may also be highly sensitive to changes in
foreign national priorities and government budgets.
     Work performed in foreign locations may be subject to foreign income and other taxes. We will incur costs in
monitoring and complying with the tax laws and regulations in the various foreign locations where we do business,
and these costs could be significant. Among other things, we could face scrutiny of transfer pricing arrangements by
authorities in countries in which we operate. Failure to comply with all foreign tax laws and regulations may result in
penalties and interest in addition to any tax liability owed. There are also U.S. and international regulations relating to
investments, exchange controls and repatriation of earnings, as well as varying currency, political and economic risks.
     It may be more difficult to enforce contracts and collect accounts receivable in foreign markets, and we may encounter
longer payment cycles. In addition, some countries may provide reduced protection for our intellectual property rights.
We will also be required to comply with complex U.S. laws regulating the export of technology.




                                                            26
We may not be successful in identifying acquisition candidates and, if we undertake acquisitions, they could be
expensive, increase our costs or liabilities, or disrupt our business. Additionally, if we are unable to successfully
integrate companies we acquire, our revenue and operating results may be impaired.
      One of our strategies is to augment our organic growth through acquisitions. We have completed nine acquisitions of
complementary companies that provide services in one of our three target markets. We may not be able to identify suitable
acquisition candidates at prices that we consider appropriate or to finance acquisitions on terms that are satisfactory to
us. Acquisitions of businesses or other material operations may require additional debt or equity financing, resulting in
leverage or dilution of ownership. Additionally, negotiations of potential acquisitions and the integration of acquired
business operations could disrupt our business by diverting management attention away from day-to-day operations
and we may not be able to successfully integrate the companies we acquire. We also may not realize cost efficiencies
or synergies that we anticipated when selecting our acquisition candidates. Acquired companies may have liabilities or
adverse operating issues that we fail to discover through due diligence. Any costs, liabilities, or disruptions associated
with future acquisitions could harm our operating results. In addition, following the integration of acquired companies,
we may experience increased attrition, including but not limited to key employees of acquired companies, which could
reduce our future revenue.
      Our most recent acquisition of Constella Group, LLC, or Constella, is our largest acquisition to date. While
substantially all of Constella’s revenues are generated in the health care and public health market, primarily under
contracts with the U.S. government, approximately 40% of Constella’s revenues are from work performed outside the
United States, and approximately 30% of its revenues are from commercial contracts primarily with customers in the
pharmaceutical industry. The Constella acquisition expands our capabilities in the health care and public health market,
but also exposes us to greater risks related to international and commercial work. We will likely be required to devote
significant management attention and resources to manage and staff Constella’s international operations and we expect
to incur increased travel, infrastructure and legal compliance costs associated with multiple international locations. In
particular, Constella’s decentralized operations and financial systems will require us to incur significant costs to upgrade
internal controls to become compliant with the Sarbanes Oxley Act of 2002.

Unfavorable government audit results could force us to adjust previously reported operating results and could subject
us to a variety of penalties and sanctions.
      The federal government audits and reviews our performance on contracts, pricing practices, cost structure, and
compliance with applicable laws, regulations, and standards. Like most large government contractors, our contracts are
audited and reviewed on a continual basis by federal agencies, including the Defense Contract Management Agency, or
DCMA and the Defense Contract Audit Agency, or DCAA. An audit of our work, including an audit of work performed
by companies we have acquired or may acquire or subcontractors we have hired or may hire, could result in a substantial
adjustment to our previously reported operating results.
      Audits for costs incurred on work performed after fiscal year 2005 have not yet been completed. In addition, non-
audit reviews by the government may still be conducted on all our government contracts. If a government audit uncovers
improper or illegal activities, we may be subject to civil and criminal penalties and administrative sanctions, including
termination of contracts, forfeiture of profits, suspension of payments, fines, and suspension or debarment from doing
business with U.S. federal government agencies. In addition, we could suffer serious harm to our reputation if allegations
of impropriety were made against us, whether or not true.
      If we were suspended or debarred from contracting with the federal government generally, or any specific agency,
if our reputation or relationship with government agencies were impaired, or if the government otherwise ceased doing
business with us or significantly decreased the amount of business it does with us, our revenue and operating results
would be materially harmed.

If we experience systems, service, or product failure, our reputation could be harmed and our clients could assert
claims against us for damages or refunds.
      We create, implement, and maintain information technology solutions, as well as sell products, that are often critical
to our clients’ operations, including operations in war zones and other hazardous environments. We have experienced
and may in the future experience some systems and service failures, schedule or delivery delays, and other problems
in connection with our work. If our solutions, services, products, including third party products we may resell to our
clients, or other applications have significant defects or errors, are subject to delivery delays, or fail to meet our clients’
expectations, we may:


                                                              27
     •     lose revenue due to adverse client reaction;

     •     be required to provide additional services to a client at no charge;

     •     receive negative publicity, which could damage our reputation and adversely affect our ability to attract or
           retain clients; or

     •     suffer claims for substantial damages against us.
      In addition to any costs resulting from product or service warranties, contract performance, or required corrective
action, these failures may result in increased costs or loss of revenue if clients postpone subsequently scheduled work or
cancel or fail to renew contracts.
      While many of our contracts limit our liability for consequential damages that may arise from negligence in
rendering services to our clients, these contractual provisions may not be legally sufficient to protect us if we are sued.
In addition, our errors and omissions and product liability insurance coverage may not continue to be available on
reasonable terms or in sufficient amounts to cover one or more large claims, or the insurer may disclaim coverage as to
some types of future claims. As we continue to grow and expand our business into new areas, our insurance coverage
may not be adequate. The successful assertion of any large claim against us could seriously harm our business. Even if
not successful, these claims could result in significant legal and other costs, may be a distraction to our management, and
may harm our reputation.

Our business commitments require our employees to travel to potentially dangerous places, which may result in
injury to our employees.
      Our business involves providing services that require our employees to operate in various countries around the
world, including Iraq. These countries may be experiencing political upheaval or unrest, and in some cases war or
terrorism. Senior level employees or executives may, on occasion, be part of the teams deployed to provide services in
these countries. As a result, it is possible that certain of our employees or executives will suffer injury or bodily harm in
the course of these deployments. It is also possible that we will encounter unexpected costs in connection with additional
risks inherent with sending our employees to dangerous locations, such as increased insurance costs, as well as the
repatriation of our employees or executives for reasons beyond our control.

Our employees may engage in misconduct or other improper activities, which could harm our business.
      We are exposed to the risk that employee fraud or other misconduct could occur. Misconduct by employees could
include intentional failures to comply with federal government procurement regulations, engaging in unauthorized
activities, seeking reimbursement for improper expenses or falsifying time records. Employee misconduct could also
involve the improper use of our clients’ sensitive or classified information, which could result in regulatory sanctions
against us and serious harm to our reputation. It is not always possible to deter employee misconduct, and the precautions
we take to prevent and detect this activity may not be effective in controlling unknown or unmanaged risks or losses,
which could harm our business.

Our failure to obtain and maintain necessary security clearances may limit our ability to perform classified work for
government clients, which could cause us to lose business.
      Some government contracts require us to maintain facility security clearances and require some of our employees
to maintain individual security clearances. We have seen a recent increase in the number of clients requiring special
security clearances and the types of clearances required. If our employees lose or are unable to timely obtain security
clearances, or we lose a facility clearance, the government client can terminate the contract or decide not to renew it upon
its expiration. As a result, to the extent we cannot obtain the required security clearances for our employees working
on a particular contract, or we fail to obtain them on a timely basis, we may not derive the revenue anticipated from the
contract, which could harm our operating results.

Security breaches in sensitive government systems could result in loss of clients and negative publicity.
       Many of the systems we develop, install, and maintain involve managing and protecting information used in
intelligence, national security, and other sensitive or classified government functions. A security breach in one of these
systems could cause serious harm to our business, damage our reputation, and prevent us from being eligible for further



                                                             28
work on sensitive or classified systems for federal government clients. We could incur losses from such a security breach
that could exceed the policy limits under our insurance. Damage to our reputation or limitations on our eligibility for
additional work resulting from a security breach in one of our systems could materially reduce our revenue.

We depend on our intellectual property and our failure to protect it could enable competitors to market products and
services with similar features that may reduce demand for our products.
      Our success depends in part upon the internally developed technology, proprietary processes, and other intellectual
property that we utilize to provide our services and incorporate in our products. If we are unable to protect our intellectual
property, our competitors could market services or products similar to our services and products, which could reduce
demand for our offerings. Federal government clients typically retain a perpetual, world-wide, royalty-free right to use the
intellectual property we develop for them in any manner they deem appropriate, including providing it to our competitors
in connection with their performance of other federal government contracts. We typically seek governmental authorization
to re-use intellectual property developed for the federal government or to secure export authorization. Federal government
clients typically grant contractors the right to commercialize software developed with federal funding. However, if we
were to improperly use intellectual property even partially funded by the federal government, the federal government
could seek damages or royalties from us, sanction us, or prevent us from working on future government contracts.
      We may be unable to prevent unauthorized parties from attempting to copy or otherwise obtain and use our
technology. Policing unauthorized use of our technology is difficult, and we may not be able to prevent misappropriation
of our technology, particularly in foreign countries where the laws may not protect our intellectual property as fully as
those in the United States. Others, including our employees, may compromise the trade secrets and other intellectual
property that we own. Although we require our employees to execute non-disclosure and intellectual property assignment
agreements and comply with related policies and procedures, these agreements may not be legally or practically sufficient
to protect our rights. Litigation may be necessary to enforce our intellectual property rights, to protect our trade secrets,
and to determine the validity and scope of the proprietary rights of others. Any litigation could result in substantial costs
and diversion of resources, with no assurance of success.

We may be harmed by intellectual property infringement claims.
      We may become subject to claims from our employees or third parties who assert that software and other forms of
intellectual property that we use in delivering services and business solutions to our clients infringe upon intellectual
property rights of such employees or third parties. Our employees develop much of the software and other forms of
intellectual property that we use to provide our services and business solutions to our clients, but we also license
technology from other vendors. If our vendors, our employees, or third parties assert claims that we or our clients are
infringing on their intellectual property, we could incur substantial costs to defend those claims. In addition, if any of
these infringement claims are ultimately successful, we could be required to:

     •     cease selling or using products or services that incorporate the challenged software or technology;

     •     obtain a license or additional licenses from our vendors or other third parties; or

     •     redesign our products and services that rely on the challenged software or technology.

Activation of military and National Guard reserves could significantly reduce our revenue and profits.
      Activation of military reserves, in connection with international conflicts or otherwise, could result in some clients
and client contracting staff being activated into the military services. This could delay contract awards that might be in
the evaluation or award process, which could in turn reduce our revenue until such time as our clients are able to complete
the evaluation and award process, or could even result in the loss of the potential contract award.
      As of June 30, 2007 we had approximately 200 employees who serve as reserves for a branch of the military or the
National Guard. In the event of a significant call-up we will pay these employees the differential between their military
pay and their salary for up to one year. Our standard practice in the absence of a significant call-up is to provide for up
to 15 days of differential pay for military leave. To the extent those called for military duty are directly billable on our
contracts, our revenue could be reduced. Additionally, our fringe benefit expenses would be increased by any differential
payments, which could reduce our profits.




                                                             29
Other Risks Related To Our Stock

Our stock price is volatile and could decline.
      The stock market in general, and the market for technology-related stocks in particular, has been highly volatile. As
a result, the market price of our class A common stock is likely to be similarly volatile, and holders of our class A common
stock may experience a decrease in the value of their stock, including decreases unrelated to our operating performance
or prospects. The price of our class A common stock could be subject to wide fluctuations in response to a number of
factors, including those listed in this “Risk Factors” section and others such as:

      •     our operating performance and the performance of other similar companies or companies deemed to be
            similar;

      •     actual or anticipated differences in our quarterly operating results;

      •     changes in our revenue or earnings estimates or recommendations by securities analysts;

      •     publication of research reports about us or our industry by securities analysts;

      •     additions and departures of key personnel;

      •     contract mix and the extent of use of subcontractors;

      •     strategic decisions by us or our competitors, such as acquisitions, consolidations, divestments, spin-offs, joint
            ventures, strategic investments, or changes in business strategy;

      •     federal government spending levels, both generally and by our particular government clients;

      •     the passage of legislation or other regulatory developments that adversely affect us or our industry;

      •     the failure by Congress to approve budgets on a timely basis;

      •     speculation in the press or investment community;

      •     changes in the government information technology services industry;

      •     changes in accounting principles;

      •     terrorist acts;

      •     general market conditions, including economic factors unrelated to our performance; and

      •     military action related to international conflicts, wars, or otherwise.
      In the past, securities class action litigation has often been instituted against companies following periods of volatility
in their stock price. This type of litigation could result in substantial costs and divert our management’s attention and
resources.

Our chairman, whose interests may not be aligned with yours, controls our company, which could result in actions of
which you or other stockholders do not approve.
      As of August 10, 2007, Ernst Volgenau, our chairman, beneficially owned 112,768 shares of class A common
stock and 12,050,736 shares of class B common stock, which represented approximately 65.1% of the combined voting
power of our outstanding common stock. As of August 10, 2007, our executive officers, directors and former chairman
of the board of directors as a group beneficially owned an aggregate of 2,122,244 shares of class A common stock and
14,199,828 shares of class B common stock, which represented approximately 77.3% of the combined voting power of
our outstanding common stock. As a result, these individuals acting together, or Dr. Volgenau acting alone, will be able
to control the outcome of all matters that our stockholders vote upon, including the election of directors, amendments to
our certificate of incorporation, and mergers or other business combinations. In addition, upon the death of Dr. Volgenau
and the conversion of his class B common stock into class A common stock, William K. Brehm, the former chairman of
our board of directors, if he survives Dr. Volgenau, would beneficially own all of the outstanding class B common stock
and could exercise significant influence over corporate matters requiring stockholder approval. This concentration of
ownership and voting power may also have the effect of delaying or preventing a change in control of our company and
could prevent stockholders from receiving a premium over the market price if a change in control is proposed.




                                                               30
Provisions of our charter documents and Delaware law may inhibit potential acquisition bids that you and other
stockholders may consider favorable, and the market price of our class A common stock may be lower as a result.
      There are provisions in our certificate of incorporation and by-laws that make it more difficult for a third party to
acquire, or attempt to acquire, control of our company, even if a change in control was considered favorable by you and
other stockholders. For example, our board of directors has the authority to issue up to 5,000,000 shares of preferred
stock. The board of directors can fix the price, rights, preferences, privileges, and restrictions of the preferred stock
without any further vote or action by our stockholders. The issuance of shares of preferred stock may delay or prevent a
change in control transaction. As a result, the market price of our class A common stock and the voting and other rights
of our stockholders may be adversely affected. This issuance of shares of preferred stock may result in the loss of voting
control to other stockholders.
     Our charter documents contain other provisions that could have an anti-takeover effect, including:

     •     the high-vote nature of our class B common stock;

     •     only one of the three classes of directors is elected each year;

     •     stockholders have limited ability to remove directors without cause;

     •     stockholders cannot take actions by written consent;

     •     stockholders cannot call a special meeting of stockholders; and

     •     stockholders must give advance notice to nominate directors or submit proposals for consideration at
           stockholder meetings.
     In addition, we are subject to the anti-takeover provisions of Section 203 of the Delaware General Corporation Law,
which regulates corporate acquisitions. These provisions could discourage potential acquisition proposals and could
delay or prevent a change in control transaction. They could also have the effect of discouraging others from making
tender offers for our class A common stock. These provisions may also prevent changes in our management.

Item 1B. UNRESOLVED STAFF COMMENTS
     We have not received written comments from the commission staff regarding our periodic or current reports under
the Securities Exchange Act of 1934 that remain unresolved.

Item 2. PROPERTIES
     We lease our office facilities and we do not own any facilities or real estate. We have leased our corporate
headquarters at 4300 Fair Lakes Court in Fairfax, Virginia 22033 since 1991. Both of our headquarters’ leases expire on
December 31, 2015. We also lease facilities in the following locations:
Alexandria, Virginia                     Fort Walton Beach, Florida               Rockville, Maryland
Arlington, Virginia                      Hatboro, Pennsylvania                    Sacramento, California
Atlanta, Georgia                         Herndon, Virginia                        San Antonio, Texas
Baltimore, Maryland                      Jacksonville, FL                         San Diego, California
Boston, MA                               Kingstowne, Virginia                     Seattle, Washington
Chesapeake, Virginia                     Landover, Maryland                       Shrewsbury, New Jersey
College Park , Georgia                   Lexington Park, Maryland                 St. Louis, MO
Colorado Springs, Colorado               Minneapolis, Minnesota                   Warner Robins, Georgia
Columbia, Maryland                       New York, New York                       Washington, DC
Dayton, Ohio                             Newport Beach, California
Durham, North Carolina                   Newport News, Virginia
Eatontown, New Jersey                    Panama City, FL
Egg Harbor Township, New Jersey          Portsmouth, New Hampshire
Falls Church, Virginia                   Portsmouth, New Hampshire
Fayetteville, North Carolina             Reston, Virginia
     In addition, we have employees who work on engagements at other smaller operating locations around the
United States.



                                                            31
Item 3. LEGAL PROCEEDINGS
      From time to time, we are involved in various legal matters and proceedings concerning matters arising in the
ordinary course of business. We currently believe that any ultimate liability arising out of these matters and proceedings
will not have a material adverse effect on our financial position, results of operations, or cash flows.

Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITy HOLDERS
      During the fourth quarter of fiscal year 2007, there were no matters submitted to a vote of security holders through
the solicitation of proxies or otherwise.


                                                                            PART II

Item 5. MARKET FOR REGISTRANT’S COMMON EQUITy, RELATED STOCKHOLDER MATTERS AND
ISSUER PURCHASES OF EQUITy SECURITIES
     On May 2, 2005, our board of directors declared a two-for-one stock split in the form of a 100 percent stock dividend
on our common stock. The dividend was paid on May 27, 2005 to shareholders of record on May 13, 2005.
      Since May 24, 2002, our class A common stock has been publicly traded on the New York Stock Exchange under the
symbol “SRX.” Prior to May 24, 2002, our class A common stock was not publicly traded. From July 1, 2005 to June 30,
2007 the ranges of high and low sale prices of our class A common stock as reported by the New York Stock Exchange
for each quarter during this period were as follows:
                                                                                                                        High       Low
         Year ended June 30, 2007:
            First Quarter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $ 30.31   $ 23.31
            Second Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .        32.40      25.50
            Third Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      28.19     20.65
            Fourth Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      26.38      23.95

         Year ended June 30, 2006:
            First Quarter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $38.29    $ 32.21
            Second Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .        35.75      27.40
            Third Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     38.28      30.15
            Fourth Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      37.73      26.63

      As of August 10, 2007, there were approximately 93 holders of record of our class A common stock and two holders
of record of our class B common stock. The number of holders of record of our class A common stock is not representative
of the number of beneficial holders because many shares are held by depositories, brokers or nominees. As of August 3,
2007, the closing price of our class A common stock was $24.38.
      We have never declared or paid any cash dividends on our common stock. We currently intend to retain earnings, if
any, to support our growth strategy and do not anticipate paying cash dividends in the foreseeable future.

   Sale of Unregistered Securities
      We issued 46,392, 56,142, and 107,730 shares of our class A common stock to our SRA International, Inc. 401(k)
Plan through matching contributions as determined by our board of directors during the fiscal years ended June 30, 2007,
2006, and 2005, respectively. These issuances were not sales within the meaning of the Act.

   Share Repurchases
     Our Board of Directors has authorized the repurchase of up to $40 million of our class A common stock. The
timing, price, quantity and manner of the purchases can be determined at the discretion of our chief executive officer.
We have not repurchased any shares in accordance with this authorization.




                                                                                 32
     Equity Compensation Plan Information
     Information regarding our equity compensation plans and the securities authorized for issuance thereunder is
incorporated by reference in Item 12.

     Stock Performance Graph
      The information included under this heading “Stock Performance Graph” is “furnished” and not “filed” and shall
not be deemed to be “soliciting material” or subject to Regulation 14A, shall not be deemed “filed” for purposes of Section
18 of the Securities Exchange Act of 1934, as amended, or the Exchange Act, or otherwise subject to the liabilities of that
section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or
the Exchange Act.
      The following graph compares the cumulative total stockholder return on our class A common stock from June 30,
2002 to June 30, 2007 with the cumulative total return of (i) the Russell 2000 stock index and (ii) the services sector index
of the Goldman Sachs Technology Index, or the GSTI services index. This graph assumes the investment of $100.00 at
the closing price on June 30, 2002 in our class A common stock, the Russell 2000 stock index, and the GSTI services
index, and assumes any dividends are reinvested. The historical information set forth below is not necessarily indicative
of future performance.

                          COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*
                                            Among SRA International, Inc., The Russell 2000 Index
                                                        And GSTI Services Index



          $300


          $250


          $200


          $150


          $100


            $50


             $0
                6/02                     6/03                6/04              6/05                   6/06                 6/07




                       SRA International, Inc.                         Russell 2000                         GSTI Services Index




            * $100 invested on 6/30/02 in stock or index-including reinvestment of dividends.
            Fiscal year ending June 30.

                                                                                         June 30,
                                                     2002            2003         2004               2005          2006            2007
SRA International, Inc. . . . . . . . . .           100.00          118.61       156.86             257.38        197.41          187.25
Russell 2000 . . . . . . . . . . . . . . . . . .    100.00           98.36       131.18             143.57        164.50          191.53
GSTI Services Index. . . . . . . . . . . .          100.00           90.35       105.06             103.60        121.08          150.65



                                                                       33
Item 6. SELECTED FINANCIAL DATA
      The following selected financial data should be read in conjunction with our financial statements and the related
notes, and with “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” included
elsewhere in this Form 10-K. The statement of operations data for the fiscal years ended June 30, 2007, 2006, and 2005,
and the balance sheet data as of June 30, 2007 and 2006, are derived from our financial statements that have been audited
by Deloitte & Touche LLP, our independent registered public accounting firm, and are included in this Form 10-K.
The statement of operations data for the fiscal years ended June 30, 2004 and 2003, and the balance sheet data as of
June 30, 2005, 2004, and 2003, are derived from our financial statements that have been audited by Deloitte & Touche
LLP and not included in this Form 10-K. The selected financial data reflect our adoption of Statement of Financial
Accounting Standards, or SFAS, No. 123R in July 2005 and our acquisitions of Adroit Systems, Inc. in January 2003,
ORION Scientific Systems in January 2004, Touchstone Consulting Group in April 2005, Galaxy Scientific Corporation
in July 2005, Spectrum Solutions Group, Inc. in November 2005, Mercomms Unlimited, Inc. in April 2006, and RABA
Technologies, LLC in October 2006. For more information on these more recent acquisitions, see Note 16 to our financial
statements.
                                                                                                   year Ended June 30,
                                                                          2007              2006             2005              2004             2003
                                                                                      (in thousands, except share and per share data)
Statement of Operations Data:
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $ 1,268,872       $ 1,179,267      $     881,770     $     615,802    $     450,375
Operating costs and expenses:
    Cost of services . . . . . . . . . . . . . . . . . . . .            954,656           880,802            653,115           442,771          316,672
    Selling, general and administrative (b) . .                         200,204           183,297            126,404           100,919           82,753
    Depreciation and amortization. . . . . . . . .                       21,187            18,201             13,141            10,511            8,962
        Total operating costs and expenses . .                        1,176,047         1,082,300            792,660           554,201          408,387
Operating income . . . . . . . . . . . . . . . . . . . . .               92,825            96,967             89,110            61,601           41,988
Interest income (expense), net . . . . . . . . . . . .                    6,276             4,232              3,442             1,474            1,387
Gain on equity method investment . . . . . . . .                            —                 —                  —                 —              1,031
Gain on sale of Assentor practice . . . . . . . . .                         —                 —                  —                 —              4,685
Gain on sale of Mantas, Inc. . . . . . . . . . . . . .                    3,674               —                  —                 —                —
Other income . . . . . . . . . . . . . . . . . . . . . . . . .              —                 —                  —                 153              —
Income before taxes. . . . . . . . . . . . . . . . . . . .              102,775           101,199             92,552            63,228           49,091
Provision for income taxes . . . . . . . . . . . . . .                   39,345            38,679             34,829            24,291           19,431
Net income. . . . . . . . . . . . . . . . . . . . . . . . . . .     $    63,430       $    62,520      $      57,723     $      38,937    $      29,660
Earnings per share: (a) . . . . . . . . . . . . . . . . . .
    Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $         1.12    $         1.14   $         1.09    $         0.76   $            0.69
    Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . .   $         1.09    $         1.08   $         1.02    $         0.71   $            0.62
Weighted-average shares: (a) . . . . . . . . . . . . .
    Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . .       56,476,927        55,064,138       52,965,623        51,008,978       42,690,310
    Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . .       58,381,788        57,738,875       56,549,303        54,738,028       47,459,972

                                                                                                       As of June 30,
                                                                          2007              2006             2005              2004             2003
Balance Sheet Data:
Cash and cash equivalents . . . . . . . . . . . . . . . $                 212,034     $     173,564    $     162,973     $     143,367    $     158,264
Short-term investments . . . . . . . . . . . . . . . . .                       85             9,834           20,156             9,076              433
Working capital . . . . . . . . . . . . . . . . . . . . . . .             297,085           299,567          285,489           229,796          219,655
Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . .         847,684           724,722          572,399           466,380          367,651
Total stockholders’ equity . . . . . . . . . . . . . . .                  625,455           533,297          429,092           339,268          283,015

(a)     Share and per share amounts have been adjusted to reflect the May 2005 two-for-one stock split.
(b)     Years ended June 30, 2007 and 2006 include $11.5 million and $13.2 million, respectively, of stock compensation
        expense recognized in accordance with SFAS No. 123R.


                                                                                 34
Item 7. MANAGEMENT’S DISCUSSION AND ANALySIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS
      You should read the following discussion and analysis in conjunction with our financial statements and the related
notes included elsewhere in this Form 10-K. This discussion and analysis contains forward-looking statements that
involve risks, uncertainties, and assumptions. Our actual results may differ materially from those anticipated in these
forward-looking statements as a result of certain factors, including, but not limited to, those set forth under “RISK
FACTORS” and elsewhere in this Form 10-K.

ABOUT THIS MANAGEMENT’S DISCUSSION AND ANALySIS
     The discussion and analysis that follows is organized to:

     •     provide an overview of our business;

     •     describe selected key metrics evaluated by management;

     •     explain the year-over-year trends in our results of operations;

     •     describe our liquidity and capital resources; and

     •     explain our critical accounting policies, describe certain line items of our statements of operations, and define
           certain other terms we use in our discussion and analysis.
     Readers who are not familiar with our company or the financial statements of federal government information
technology services providers should closely review the “DESCRIPTION OF CRITICAL ACCOUNTING POLICIES,”
the “DESCRIPTION OF STATEMENT OF OPERATIONS ITEMS,” and the “DEFINITION OF CERTAIN TERMS
USED IN THIS MANAGEMENT’S DISCUSSION AND ANALYSIS” sections that appear at the end of this discussion
and analysis. These sections provide background information that can help readers in understanding and analyzing our
financial information.

OVERVIEW
      We are a leading provider of technology and strategic consulting services and solutions to the federal government.
We offer a broad range of services that span the information technology life-cycle: strategic consulting; systems design,
development and integration; and outsourcing and managed services. In addition, to address recurring client needs, we
develop business solutions for contingency and disaster response planning; information assurance; business intelligence;
privacy protection; enterprise architecture; infrastructure management; and wireless integration. We provide services in
three target markets: national security, civil government, and health care and public health. Our largest market, national
security, includes the Department of Defense, the National Guard, the Department of Homeland Security, the intelligence
agencies, and other federal organizations with homeland security missions.
      Since our founding in 1978 we have derived substantially all of our revenue from services provided to federal
government clients. Although the federal information technology market is currently facing challenges as a result of the
shift in expenditures to pay for the war against terrorism and other international conflicts, we believe that the federal
government’s spending on IT will continue to increase over the next several years. According to the Federal IT Market
Forecast, FY2007 – FY2012 report published by INPUT, an independent federal government market research firm, the
contracted portion of the federal government spending on information technology budget is forecasted to grow at a
compound annual growth rate of 5.6% over the next five years. In order to grow more rapidly than the market, we will
need to take market share from our competitors. Our growth is driven in part by contract awards and how we build-out
our contracts. Ideally, the level of quarterly business awards would exceed the revenue booked in the quarter to drive
backlog growth.
      In the near term, we face some uncertainties due to the current business environment. First, the Department of
Defense continues to divert funding away from certain information technology initiatives to support the war against
terrorism and the reconstruction of Iraq. Second, all civil agencies are operating under a continuing resolution through
the end of the government’s fiscal year ending September 30, 2007, limiting spending for most agencies to the fiscal 2006
level. The resulting budget tightness has slowed industry growth. As growth has slowed in these areas of our market, we
have experienced pricing pressure on new business opportunities. Increased competition, combined with the shortage of
experienced contracting staff among government agencies, has increased the frequency of contract protests, which has in




                                                            35
turn caused delays in many new awards. Additionally, it is difficult to hire and retain highly qualified individuals who
have advanced technology and technical services skills and who work well with our clients in a government environment,
especially those with security clearances.
      We work with the federal government under three primary contract types: cost-plus-fee, time-and-materials, and
fixed-price contracts. Cost-plus-fee contracts are typically lower risk arrangements and thus yield lower profit margins
than time-and-materials and fixed-price arrangements. Time-and-materials and fixed-price contracts typically generate
higher profit margins reflecting their generally higher risk. Where customer requirements are clear, we prefer to enter
into time-and-materials and fixed-price arrangements rather than cost-plus-fee arrangements. Typically under time-and-
materials and fixed-price, as compared with cost-plus-contracts, the customer can save money and we can earn better
margins, given the more specific delivery requirements of these structures.
      Most of our revenue is generated based on services provided either by our employees or subcontractors. To a lesser
degree, the revenue we earn includes reimbursable travel and other items to support the contractual effort, and may
include third-party hardware and software that we purchase and integrate for customers as part of the solutions that we
provide. Thus, once we win new business, the key to delivering the revenue is through hiring new employees to meet
customer requirements, retaining our employees, and ensuring that we deploy them on direct-billable jobs. Therefore,
we closely monitor hiring success, attrition trends, and direct labor utilization. Since we earn higher profits from the
labor services that our employees provide compared with subcontracted efforts and other reimbursable items such as
hardware and software purchases for customers, we seek to optimize our labor content on the contracts we win. The
level of hardware and software purchases we make for customers may vary from period to period depending on specific
contract and customer requirements.
      Cost of services includes labor, or the salaries and wages of our employees, plus fringe benefits; the costs of
subcontracted labor and outside consultants; third-party materials, such as hardware and software that we purchase
for customer solutions; and other direct costs such as travel incurred to support contract efforts. Since we earn higher
profits on our own labor services, we expect the ratio of cost of services to revenue to decline when our labor services
mix increases relative to subcontracted labor or third-party material. Conversely, as subcontracted labor or third-party
material purchases for customers increase relative to our own labor services, we expect the ratio of cost of services to
revenue to increase. As we continue to bid and win larger contracts, our own labor services component could decrease.
This is because the larger contracts typically are broader in scope and require more diverse capabilities resulting in
more subcontracted labor with the potential for more third-party hardware and software purchases. In addition, we can
face hiring challenges in staffing larger contracts. While these factors could lead to a higher ratio of cost of services to
revenue, the economics of these larger jobs are nonetheless generally favorable because they increase income, broaden
our revenue base, and have a favorable return on invested capital.
     We have been able to build and effectively use what we refer to as a central services model. This central services
model employs the use of central services for marketing, business development, human resources, recruiting, finance and
accounting, infrastructure and other core administrative services. This central services model allows us to reduce selling,
general and administrative expenses as a percentage of revenue as revenue grows organically and through selective
acquisitions, thereby contributing to the growth in operating income.
      Depreciation and amortization expenses are affected by the level of our annual capital expenditures and the amount
of identified intangibles related to acquisitions. We do not presently foresee significant changes in our capital expenditure
requirements, which have been approximately 1.0% to 2.0% of revenue over the last three fiscal years. As we continue
to make selected strategic acquisitions, the amortization of identified intangible assets may increase as a percentage of
our revenue.
     Our operating income, or revenue minus cost of services, selling, general and administrative expenses, and
depreciation and amortization, and thus our operating margin, or the ratio of operating income to revenue, is driven
by the mix and execution on our contracts, how we manage our costs, and the amortization charges resulting from
acquisitions.
     Our cash position is driven primarily by the level of net income, working capital in accounts receivable, capital
expenditures and acquisition activities.




                                                             36
    SELECTED KEy METRICS EVALUATED By MANAGEMENT
         We manage and assess the performance of our business by evaluating a variety of metrics. Selected key metrics are
    discussed below.

         Revenue Growth
         Our revenue growth is primarily organic, but has been augmented by selective strategic acquisitions. Our total
    revenue growth rate was 7.6% in fiscal year 2007. Our organic revenue growth rate was 3.4% in fiscal year 2007, driven
    by building-out existing accounts, broadening our client base, and leveraging our research and development into high
    value services. The table below details our largest contract awards that have contributed to our organic growth:
                                                                                                                                                          Initial Contract
Client                                                                        Contract                                Period of Performance                Award Value
                                                                                                                                                              (in millions)
Federal Deposit Insurance                                   Technology Infrastructure
   Corporation . . . . . . . . . . . . . . . . . . .        Support                                            September 2004 –September 2009                 $ 341.0
U.S. Agency for International                               PRIME 2.2 Enterprise–Wide IT
   Development . . . . . . . . . . . . . . . . . .          Services                                           December 2003 – January 2010                      328.0
Environmental Protection Agency . . . .                     Information Technology                             April 2005 – April 2010                           148.0
                                                            Solutions-Business Information
                                                            Strategic Support (ITS-BISS)
National Guard Bureau . . . . . . . . . . . . .             Advanced Information                               March 2003 – September 2007
                                                            Technology Services                                                                                  115.0
Government Accountability Office . . .                      IT Infrastructure Support                          February 2003 – February 2009                     105.0

         A part of our growth strategy includes pursuing acquisitions. As of June 30, 2007, we have made the following
    acquisitions:

 Acquisition                                                                           Strategic Value                              Closing Date          Purchase Price
                                                                                                                                                           (in millions)
 The Marasco Newton Group, Ltd. . . . .                       Environment                                                      January 4, 2002                 $16.2
 Adroit Systems, Inc. . . . . . . . . . . . . . . .           Command and Control, Communications,                             January 31, 2003
                                                                  Computers, Intelligence, Surveillance and
                                                                  Reconnaissance (C4ISR)                                                                         38.3
 ORION Scientific Systems . . . . . . . . . .                 Counterterrorism                                                 January 30, 2004                  34.7
 Touchstone Consulting Group, Inc. . . .                      Strategic Consulting                                             April 21, 2005                    37.0
 Galaxy Scientific Corporation . . . . . . .                  Command and Control, Communications,                             July 1, 2005
                                                                  Computers, Intelligence (C4I)                                                                  98.7
 Spectrum Solutions Group, Inc. . . . . . .                   Enterprise Resource Planning                                     November 2, 2005                  17.7
 Mercomms Unlimited, Inc. . . . . . . . . .                   Maritime and Defense Communications                              April 10, 2006                     0.6
 RABA Technologies, LLC . . . . . . . . . .                   Intelligence                                                     October 26, 2006                  95.0

         Contract Backlog
          Future growth is dependent upon the strength of our target markets, our ability to identify opportunities, and our
    ability to successfully bid and win new contracts. Our success can be measured in part based upon the growth of our
    backlog. The following table summarizes our contract backlog at the end of the year:

                                                                                                                            year Ended June 30,
                                                                                                                    2007            2006               2005
                                                                                                                               (in millions)
            Backlog:
                Funded . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    $   600.4       $   512.8          $   453.2
                Unfunded . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .        2,809.8         2,748.8            2,296.9
            Total backlog . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     $ 3,410.2       $ 3,261.6          $ 2,750.1



                                                                                           37
     Our total backlog of approximately $3.4 billion as of June 30, 2007 represented a 4.6% increase over the fiscal year
2006 backlog. We currently expect to recognize revenue during fiscal year 2008 from approximately 25% of our total
backlog as of June 30, 2007.

     Contract mix
      Contract profit margins are generally affected by the type of contract. We can typically earn higher profits on fixed-
price and time-and-materials contracts than cost-plus-fee contracts. Thus, an important part of growing our operating
income is to increase the amount of services delivered under fixed-price and time-and-materials contracts. The following
table summarizes our historical contract mix, measured as a percentage of total revenue, for the periods indicated:
                                                                                                                                    year Ended June 30,
                                                                                                                            2007           2006           2005
    Cost-plus-fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .           43%             45%           46%
    Time-and-materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  42              40            34
    Fixed-price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .           15              15            20

      While our government clients typically determine what type of contract will be awarded to us, where we have the
opportunity to influence the type of contract awarded, we will pursue time-and-materials and fixed-price contracts for
the reasons discussed above.

     Headcount and Labor Utilization
      Because most of our revenue derives from services delivered by our employees, our ability to hire new employees
and deploy them on direct-billable jobs is critical to our success. The following table represents our headcount and our
direct labor utilization over the past three years:
                                                                                                                                   year Ended June 30,
                                                                                                                     2007                 2006             2005
Headcount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .             5,215               4,975             4,177
Direct labor utilization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                   78.8%               78.5%             78.8%

     Operating Margin
      Operating margin, or the ratio of operating income to revenue, is affected by the mix of our contracts and how we
manage our costs. Our operating margins were 7.3%, 8.2%, and 10.1% for the years ended June 30, 2007, 2006, and 2005,
respectively. The decrease in operating margin between fiscal 2006 and 2007 is primarily attributable to lower margins
on recompeted contracts during fiscal 2007 compared to fiscal 2006. Additionally, the amortization associated with
identified intangibles recorded as a result of our acquisition of RABA Technologies, LLC, or RABA, reduced operating
margin in the year ended June 30, 2007. The decrease in operating margin between fiscal 2005 and 2006 is primarily due
to the compensation expense related to share-based payment transactions recognized in accordance with the adoption of
SFAS No. 123R on July 1, 2005.

     Days Sales Outstanding
      Days sales outstanding, or DSO, is a measure of how efficiently we manage the billing and collection of our accounts
receivable, our most significant working capital requirement. Accounts receivable represents the most significant asset we
report on our balance sheet. We reported DSO of 73 and 74 days for the year ended June 30, 2007 and 2006, respectively.
The decrease in DSO was due to continued initiatives to improve our invoicing and collections processes.




                                                                                        38
RESULTS OF OPERATIONS
      The following tables set forth some items from our consolidated statements of operations, and these items expressed
as a percentage of revenue, for the periods indicated.
                                                                                                     year Ended June 30,
                                                                                 2007         % Change       2006        % Change           2005
                                                                                                         (in thousands)
Revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,268,872        7.6% $ 1,179,267                33.7% $ 881,770
Operating costs and expenses:
    Cost of services . . . . . . . . . . . . . . . . . . . . . . . . . .           954,656       8.4     880,802                  34.9   653,115
    Selling, general, and administrative(a) (b) . . . . . . .                      200,204       9.2     183,297                  45.0   126,404
    Depreciation and amortization. . . . . . . . . . . . . . .                      21,187      16.4      18,201                  38.5    13,141
        Total operating costs and expenses . . . . . . . .                       1,176,047       8.7   1,082,300                  36.5   792,660
Operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . .            92,825      (4.3)     96,967                   8.8    89,110
Interest income, net . . . . . . . . . . . . . . . . . . . . . . . . . .             6,276      48.3       4,232                  23.0     3,442
Gain on sale of Mantas, Inc. . . . . . . . . . . . . . . . . . . . .                 3,674     100.0         —                    —          —
Income before taxes . . . . . . . . . . . . . . . . . . . . . . . . . .            102,775       1.6     101,199                   9.3    92,552
Provision for income taxes . . . . . . . . . . . . . . . . . . . . .                39,345       1.7      38,679                  11.1    34,829
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 63,430            1.5% $ 62,520                     8.3% $ 57,723

                                                                                                   (as a percentage of revenue)
Revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    100.0%                         100.0%                     100.0%
Operating costs and expenses:
    Cost of services . . . . . . . . . . . . . . . . . . . . . . . . . .              75.2                        74.7                       74.1
    Selling, general and administrative(b) . . . . . . . . . . .                      15.8                        15.5                       14.3
    Depreciation and amortization. . . . . . . . . . . . . . .                         1.7                         1.5                        1.5
        Total operating costs and expenses . . . . . . . .                            92.7                        91.8                       89.9
Operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . .               7.3                         8.2                       10.1
Interest income, net . . . . . . . . . . . . . . . . . . . . . . . . . .               0.5                         0.4                        0.4
Gain on sale of Mantas, Inc. . . . . . . . . . . . . . . . . . . . .                   0.3                        —                          —
Income before taxes . . . . . . . . . . . . . . . . . . . . . . . . . .                8.1                         8.6                       10.5
Provision for income taxes . . . . . . . . . . . . . . . . . . . . .                   3.1                         3.3                        4.0
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .           5.0%                        5.3%                       6.5%

(a)     Years ended June 30, 2007 and 2006 include $11.5 million and $13.2 million, respectively, of stock compensation
        expense recognized in accordance with SFAS No. 123R.
(b)     Excluding the SFAS No 123R expense, selling, general, and administrative expense would have been 14.9% and
        14.4% of revenue in fiscal 2007 and 2006, respectively.

      Revenue
     Our revenue increased 7.6% to $1.27 billion in fiscal 2007 from $1.18 billion in fiscal 2006. Organic revenue growth
was 3.4% for the year, with the remainder of growth mostly attributable to our October 2006 acquisition of RABA which
generated approximately $43 million in revenue during fiscal 2007. Our organic growth has been driven primarily by our
Federal Deposit Insurance Corporation, or FDIC, contract, which generated approximately $25.5 million in additional
revenue during fiscal 2007 compared to fiscal 2006.
     Our revenue increased 33.7% to $1.18 billion in fiscal 2006, from $881.8 million in fiscal 2005. Organic revenue
growth was 17.2% for the year, with the remainder of growth mostly attributable to our April 2005 and July 2005
acquisitions of Touchstone and Galaxy, respectively. Our organic growth has been driven in part by three large contracts,
representing approximately 7.8% of our fiscal 2006 organic growth. Our FDIC contract, our Advanced Information
Technology Services, or AITS, contract with the National Guard, and our United States Agency for International
Development, or USAID, contract were significant drivers of our revenue growth, generating approximately $79 million
of additional revenue during fiscal 2006 compared to fiscal 2005.




                                                                                 39
   Cost of Services
      Cost of services increased 8.4% to $954.7 million in fiscal 2007, from $880.8 million in fiscal 2006. This increase in
cost of services was due primarily to the increased volume of services provided under our FDIC contract, and the volume
of services attributable to RABA’s existing contracts. As a percentage of revenue, cost of services increased to 75.2%
in fiscal 2007, from 74.7% in fiscal 2006. This increase as a percentage of revenue was attributable primarily to lower
margin on a re-competed contract during fiscal 2007 compared to fiscal 2006.
      Cost of services increased 34.9% to $880.8 million in fiscal 2006, from $653.1 million in fiscal 2005. This increase
in cost of services was due primarily to the increased volume of services provided under our FDIC, AITS, and USAID
contracts, and the volume of services attributable to Touchstone’s and Galaxy’s contracts. As a percentage of revenue,
cost of services increased to 74.7% in fiscal 2006, from 74.1% in fiscal 2005. This increase as a percentage of revenue
was attributable primarily to an increased amount of direct material purchases made by us and delivered to clients in
connection with our services. Typically, direct material purchases generate lower profit, which increases the ratio of cost
of services to revenue. While this higher direct material content can drive our operating margin down, it should have a
positive impact on our earnings and return on invested capital.

   Selling, General and Administrative Expenses
      Selling, general and administrative expenses increased 9.2% to $200.2 million in fiscal 2007, from $183.3 million
in fiscal 2006. As a percentage of revenue, selling, general and administrative expenses increased to 15.8% in fiscal 2007
from 15.5% in fiscal 2006. This increase as a percentage of revenue resulted primarily from an increase in our allowance
for doubtful accounts related to a potentially uncollectible receivable. Additionally, increased spending to recruit and
retain staff during fiscal 2007 increased the ratio of selling, general and administrative expenses to revenue as compared
to fiscal 2006.
      Selling, general and administrative expenses increased 45.0% to $183.3 million in fiscal 2006, from $126.4 million
in fiscal 2005. As a percentage of revenue, selling, general and administrative expenses increased to 15.5% in fiscal
2006 from 14.3% in fiscal 2005. This increase as a percentage of revenue resulted primarily from the adoption of SFAS
No. 123R on July 1, 2005. Under SFAS No. 123R, share-based payments not fully vested as of July 1, 2005 and those
granted in the year ended June 30, 2006 and future periods are measured at estimated fair value and included in selling,
general and administrative expenses over the appropriate earning period. We recognized approximately $13.2 million of
compensation costs in accordance with SFAS No. 123R in fiscal 2006. Excluding the impact of SFAS No. 123R, selling,
general and administrative expenses as a percentage of revenue was 14.4% and 14.3% for the years ended June 30, 2006
and 2005, respectively. This increase as a percentage of revenue resulted primarily from increased costs associated with
bid and proposal efforts and lower revenue due to the related transition of professional staff off of billable engagements
to support the higher proposal activity.

   Depreciation and Amortization
     Depreciation and amortization increased 16.4% to $21.2 million in fiscal 2007, from $18.2 million in fiscal 2006.
As a percentage of revenue, depreciation and amortization increased to 1.7% in fiscal 2007, from 1.5% in fiscal 2006.
This increase in depreciation and amortization resulted primarily from the amortization associated with the identified
intangibles recorded as a result of our acquisition of RABA.
     Depreciation and amortization increased 38.5% to $18.2 million in fiscal 2006, from $13.1 million in fiscal 2005.
This increase in depreciation and amortization resulted primarily from the amortization associated with the identified
intangibles recorded as a result of our acquisitions of Galaxy and Spectrum. As a percentage of revenue, depreciation and
amortization was 1.5% in both fiscal 2006 and 2005.

   Interest Income, net
      Interest income, net increased to $6.3 million in fiscal 2007, from $4.2 million in fiscal 2006. This increase was due
to a general rise in interest rates and a greater average cash and cash equivalents balance.
      Interest income, net increased to $4.2 million in fiscal 2006, from $3.4 million in fiscal 2005. This increase was due
to a general rise in interest rates and interest earned on amended tax return refunds from previous years.




                                                            40
   Income Taxes
      In fiscal 2007, our effective income tax rate increased slightly to 38.3%, from 38.2% in fiscal year 2006. In fiscal
2006 our effective tax rate increased to 38.2% from 37.6% in fiscal 2005. This increase was due primarily to additional
services performed in higher taxing jurisdictions. The estimated effective tax rate is based on current tax law and current
income and expense projections. The effective tax rate may be affected by future acquisitions, by changes in interest
income from tax-advantaged municipal bond investments, or by the receipt of certain tax credits or refunds.

SEASONALITy
      Our quarterly operating margins are affected by, among other things, seasonality in our business model. We
may experience a sequential decline in operating margins between our quarter ending June 30 and our quarter ending
September 30. In the quarter ending September 30, we generally experience lower staff utilization rates. These lower
utilization rates are attributable both to summer vacations and to increased proposal activity in connection with the end
of the federal fiscal year. We typically transition a significant number of professional staff temporarily off of billable
engagements to support this increased proposal activity.

LIQUIDITy AND CAPITAL RESOURCES
      Our primary liquidity needs are to finance the costs of operations pending the billing and collection of accounts
receivable, to acquire capital assets, to invest in research and development, and to make selective strategic acquisitions.
     As of June 30, 2007, our total cash and investments balances were $212.1 million. We used a total of approximately
$102.2 million of cash in fiscal 2007 related to the acquisitions of RABA and Spectrum.
     From our May 2002 initial public offering through June 30, 2007, we have been able to meet all of our liquidity
requirements with cash generated from our operations. We believe we have adequate capital resources to fund our
operating and liquidity and capital expenditure needs through at least fiscal 2008, and that our funds on hand and
borrowing capacity are sufficient to execute our financial and operating strategy for the foreseeable future.

   Cash Flow
      Accounts receivable represent our largest working capital requirement. We bill most of our clients monthly after
services are rendered. Our operating cash flow is primarily affected by the overall profitability of our contracts, our
ability to invoice and collect from our clients in a timely manner, and our ability to manage our vendor payments. We
continue to improve our invoicing and collections procedures to maximize cash flows from operations.

   Fiscal 2007 Compared to Fiscal 2006
      Net cash provided by operating activities was $122.4 million in fiscal 2007, compared to $86.8 million in fiscal 2006,
or 1.9 and 1.4 times net income for fiscal 2007 and 2006 respectively. The higher cash provided by operating activities
was driven primarily by increased customer collections as a result of internal process initiatives implemented to improve
our invoicing and collection of accounts receivable. Additionally, the payment of year-end incentive compensation was
made after year-end, whereas in prior years such payments were made in June of each year.
     We used $101.2 million in net cash for investing activities in fiscal 2007, compared to $104.7 million in fiscal 2006.
Three factors drive our investing cash outflows: capital expenditures, the purchase, sale or maturity of investments with
maturities that exceed 90 days, and acquisitions. The lower cash used for investing activities in fiscal 2007 was due
primarily to lower cash generated from the sale and maturity of investments in fiscal 2007 compared to fiscal 2006 which
was partially offset by the proceeds received in the sale of our interest in Mantas, Inc.
     Net cash provided by financing activities was $17.2 million in fiscal 2007, compared to $28.5 million in fiscal 2006.
The decrease was due to lower stock option exercises and related tax benefits.

   Fiscal 2006 Compared to Fiscal 2005
      Net cash provided by operating activities was $86.8 million in fiscal 2006, compared to $66.0 million in fiscal
2005, or 1.4 and 1.1 times net income for fiscal 2006 and 2005, respectively. The ratio of cash provided by operating
activities to net income in fiscal 2006 was positively affected by the increase in our accounts payable and accrued




                                                            41
expenses balance. Account payable and accrued expenses increased due to the timing of certain vendor payments. Net
cash provided by operating activities in fiscal 2006 was also affected by the adoption of SFAS No. 123R, which resulted
in the reclassification of excess tax benefits from operating cash flows to financing cash flows.
      We used $104.7 million in net cash for investing activities in fiscal 2006, compared to $61.0 million in fiscal 2005.
The higher amount of cash used was primarily the result of our acquisitions of Galaxy and Spectrum in July 2005 and
November 2005, respectively. We spent approximately $68.0 million more on acquisitions in fiscal 2006 than fiscal
2005.
     Net cash provided by financing activities was $28.5 million in fiscal 2006, compared to $14.6 million in fiscal 2005.
The higher amount of cash provided by financing activities in the fiscal 2006 was primarily the result of our adoption
of SFAS No. 123R in July 2005. Under SFAS No. 123R, excess tax benefits from share-based payments are presented as
sources of financing activity cash flows.

    Credit Facility and Borrowing Capacity

Acquisition of Constella Group, LLC
      On August 9, 2007, we completed our acquisition of all of the outstanding stock of Constella Group LLC, or
Constella, for approximately $186.9 million in cash. Approximately $51.6 million of the purchase price was used to repay
all outstanding debt obligations of Constella on the closing date. Approximately $16.0 million was placed into escrow
as security for the payment, if any, of post-closing net asset adjustments and to secure indemnification obligations. The
equity purchase agreement has been filed as Exhibit 2.2 to this report. Constella is a privately-held provider of global
health consulting services. Headquartered in Durham, NC, Constella is organized by three interrelated service offerings:
domestic health sciences, international health development and global drug development. Financing for the acquisition
consisted of available cash and borrowings under a credit facility obtained prior to closing.

Revolving Credit Facility
      On August 9, 2007, we entered into a $100.0 million five-year unsecured revolving credit facility. The agreement
has an accordion feature enabling the credit facility to be increased by an additional $100.0 million, subject to specified
conditions. Outstanding borrowings under the agreement bear interest at a LIBOR based interest rate (currently LIBOR
plus 75 basis points). Interest is payable throughout the period a borrowing is outstanding. We borrowed $100.0 million
under this credit line to fund part of the acquisition of Constella.

STOCK PURCHASE AGREEMENT
      On August 30, 2005, we and our chairman of the board of directors terminated a stock purchase agreement that
required us to repurchase shares from the chairman’s estate upon his death. We had purchased term life insurance
policies on our chairman to meet these repurchase obligations. We have terminated all related term life insurance policies.
Expenses recognized under these policies were $49,000 for the year ended June 30, 2005.

OFF-BALANCE SHEET ARRANGEMENTS
       We do not have any off-balance sheet arrangements.

CONTRACTUAL OBLIGATIONS
      The following table summarizes our contractual obligations as of June 30, 2007 that require us to make future cash
payments. For contractual obligations, we included payments that we have an unconditional obligation to make. We did
not include amounts already recorded on our balance sheet as liabilities at June 30, 2007.
                                                                                                     Payments due by period
                                                                                                Less than 1      years 2    years 4   After 5
Contractual obligations:                                                              Total        year           and 3       and 5    years
                                                                                                           (in thousands)
Operating lease obligations, net . . . . . . . . . . . . . . . . . . . . . . . .    $ 171,171   $28,971       $49,834       $35,744   $56,622
Total contractual obligations . . . . . . . . . . . . . . . . . . . . . . . . . .   $ 171,171   $28,971       $49,834       $35,744   $56,622




                                                                             42
      In the normal course of our business, we enter into agreements with subcontractors and vendors to provide products
and services that we consume in our operations or that are delivered to our customers. These products and services are
not considered unconditional obligations until the products and services are actually delivered, at which time we record
a liability for our obligation.

RELATED PARTy TRANSACTIONS
       In May 2001, Mantas, which was previously one of our service offerings, was contributed to a separate company,
Mantas, Inc., which was formed with funding and other contributions received from unrelated third parties. Mantas, Inc.
is a provider of services to the financial services industry to address anti-money laundering and other data mining issues.
In fiscal 2005, we leased space and provided services to Mantas, Inc., for which we were reimbursed.
     In October 2006, i-flex solutions completed its acquisition of Mantas, Inc. Our portion of the net sale proceeds was
approximately $4.4 million, including a portion to be held in escrow. We recognized a total pre-tax gain of approximately
$3.7 million during fiscal 2007. The remaining amount held in escrow will be recognized as a gain upon the release of
funds pursuant to the terms of the escrow agreement.

DESCRIPTION OF CRITICAL ACCOUNTING POLICIES
       The preparation of our financial statements in accordance with accounting principles generally accepted in the
United States of America requires that we make estimates and judgments that affect the reported amounts of assets,
liabilities, revenue and expenses, as well as the disclosure of contingent assets and liabilities. On an ongoing basis, we
evaluate our estimates including those related to revenue recognition, doubtful accounts receivable, goodwill and other
intangible assets, and other contingent liabilities. We base our estimates on our historical experience and various other
factors that we believe are reasonable at the time the estimates are made. Actual results may differ significantly from
our estimates under different assumptions or conditions. We believe the critical accounting policies requiring us to make
significant estimates and judgments are revenue recognition, contract cost accounting, and accounting for acquisitions,
including the identification of intangible assets and the ongoing impairment assessments of the intangible assets. If any
of these estimates or judgments proves to be incorrect, our reported results could be materially affected.

   Revenue Recognition
      We recognize revenue when persuasive evidence of an arrangement exists, services have been rendered or goods
delivered, the contract price is fixed or determinable, and collectibility is reasonably assured. We have a standard
management process that we use to determine whether all required criteria for revenue recognition have been met. This
standard management process includes a regular review of our contract performance. This review covers, among other
matters, outstanding action items, progress against schedule, effort and staffing, requirements stability, quality, risks and
issues, subcontract management, cost, commitments, and client satisfaction. During this review we determine whether
the overall progress on a contract is consistent with the effort expended.
      Absent evidence to the contrary, we recognize revenue as follows. Revenue on cost-plus-fee contracts is recognized
to the extent of costs actually incurred plus a proportionate amount of the fee earned. We consider fixed fees under cost-
plus-fee contracts to be earned in proportion to the allowable costs actually incurred in performance of the contract.
Revenue on time-and-materials contracts is recognized based on the hours actually incurred at the negotiated contract
billing rates, plus the cost of any allowable material costs and out-of-pocket expenses. Revenue on fixed-price contracts
where we perform systems design, development and integration is recognized using the percentage-of-completion
method of contract accounting. Unless it is determined as part of our regular contract performance review that overall
progress on a contract is not consistent with costs expended to date, we determine the percentage completed based on the
percentage of costs incurred to date in relation to total estimated costs expected upon completion of the contract. Revenue
on fixed-price outsourcing and managed services contracts is generally recognized ratably over the contract period.
Revenue on fixed-price strategic consulting contracts is generally recognized based on costs incurred because these
services are directed by our customers and are subject to their needs which fluctuate throughout the contract period. We
consider performance-based fees, including award fees, under any contract type to be earned when we can demonstrate
satisfaction of performance goals, based upon historical experience, or we receive contractual notification from a client
that the fee has been earned. Billings for hardware or software purchased by customers under one of our contracts where
we act as an agent to the transaction are excluded from our revenue and cost of services, except to the extent of any fee
or profit earned.




                                                             43
      Contract revenue recognition inherently involves estimation. Examples of estimates include the contemplated level
of effort to accomplish the tasks under contract, the cost of the effort, and an ongoing assessment of our progress toward
completing the contract. From time to time, as part of our standard management processes, facts develop that require
us to revise our estimated total costs or revenue. To the extent that a revised estimate affects contract profit or revenue
previously recognized, we record the cumulative effect of the revision in the period in which the facts requiring the
revision become known. The full amount of an anticipated loss on any type of contract is recognized in the period in
which it becomes probable and can be reasonably estimated.
      We may proceed with work based on client direction prior to the completion and signing of formal contract documents.
We have a formal review process for approving any such work. Revenue associated with such work is recognized only
when it can be reliably estimated and realization is probable. We base our estimates on previous experiences with the
client, communications with the client regarding funding status, and our knowledge of available funding for the contract
or program.
       We maintain reserves for doubtful accounts receivable that may arise in the normal course of business. This
allowance for doubtful accounts is based on several factors, including the customer’s payment history, the age of the
accounts receivable, and management’s judgment regarding the likelihood of collection. Historically, we have not had
significant write-offs of doubtful accounts receivable related to work we perform for the federal government. However,
we do perform work on contracts and task orders where, on occasion, issues arise that lead to accounts receivable not
being collected. It is our policy to provide reserves for the collectibility of accounts receivable when we determine that
it is probable that we will not collect all amounts due and the amount of the reserve requirements can be reasonably
estimated.

   Contract Cost Accounting
      As a contractor providing services primarily to the federal government, we must categorize our costs as either
direct or indirect and allowable or unallowable. Direct costs are those costs that are identified with specific contracts.
These costs include labor, subcontractor and consultant services, third party materials we purchase under a contract,
and other non-labor costs incurred in support of a contract. Indirect costs are those costs not identified with specific
contracts. Rather, indirect costs are allocated to contracts in accordance with federal government rules and regulations.
These costs typically include our selling, general and administrative expenses, fringe benefit expenses, and depreciation
and amortization costs. Direct and indirect costs that are not allowable under the Federal Acquisition Regulation or
specific contract provisions cannot be considered for reimbursement under our federal government contracts. We must
specifically identify these costs to ensure we comply with these requirements. Our unallowable costs include a portion
of our executive compensation, certain employee morale activities, certain types of legal and consulting costs, and the
amortization of identified intangible assets, among others. A key element to our recent margin expansion has been
our success at controlling indirect cost growth and unallowable costs. In addition, as we acquire and integrate new
companies, we have been able to manage our indirect costs by realizing opportunities for cost synergies and integrating
the indirect support function of acquired companies into our own.
   Accounting for Acquisitions and Asset Impairment
      The purchase price that we pay to acquire the stock or assets of an entity must be assigned to the net assets acquired
based on the estimated fair market value of those net assets. The purchase price in excess of the estimated fair market
value of the tangible net assets and separately identified intangible assets acquired represents goodwill. The purchase
price allocation related to acquisitions involves significant estimates and management judgments that may be adjusted
during the purchase price allocation period, but generally not beyond one year from the acquisition date.
      We must evaluate goodwill for impairment on an annual basis, or during any interim period if we have an indication
that goodwill may be impaired. We assess the potential impairment of goodwill by comparing the carrying value of the
assets and liabilities of our reporting unit to which goodwill is assigned to the estimated fair value of the reporting unit
using a discounted cash flow approach. We performed our annual goodwill impairment analysis as of January 1, 2007.
There was no indication of goodwill impairment as a result of our impairment analysis. If we are required to record an
impairment charge in the future, it could materially affect our results of operations.
      The estimated fair market value of identified intangible assets is amortized over the estimated useful life of the
related intangible asset. We have a process pursuant to which we typically retain third-party valuation experts to assist
us in determining the fair market values and useful lives of identified intangible assets. We evaluate these assets for
impairment when events occur that suggest a possible impairment. Such events could include, but are not limited to, the



                                                            44
loss of a significant client or contract, decreases in federal government appropriations or funding for specific programs or
contracts, or other similar events. None of these events have occurred for the periods presented. We determine impairment
by comparing the net book value of the asset to its future undiscounted net cash flows. If an impairment occurs, we will
record an impairment expense equal to the difference between the net book value of the asset and its estimated discounted
cash flows using a discount rate based on our cost of capital and the related risks of recoverability.

DESCRIPTION OF STATEMENT OF OPERATIONS ITEMS
     The following is a description of certain line items of our statements of operations.

   Revenue
      Most of our revenue is generated on the basis of services provided to the federal government, either by our employees
or by our subcontractors. To a lesser degree, the revenue we earn may include third-party hardware and software that we
purchase and integrate when requested by the client as a part of the solutions that we provide to our clients.
      Contract Types. When contracting with our government clients, we enter into one of three basic types of contracts:
cost-plus-fee, time-and-materials, and fixed-price.

     •     Cost-plus-fee contracts. Cost-plus-fee contracts provide for reimbursement of allowable costs and the payment
           of a fee, which is our profit. Cost-plus-fixed-fee contracts specify the contract fee in dollars. Cost-plus-award-
           fee contracts may provide for a base fee amount, plus an award fee that varies, within specified limits, based
           upon the client’s assessment of our performance as compared to contractual targets for factors such as cost,
           quality, schedule, and performance.

     •     Time-and-materials contracts. Under a time-and-materials contract, we are paid a fixed hourly rate for each
           direct labor hour expended and we are reimbursed for allowable material costs and out-of-pocket expenses. To
           the extent our actual direct labor and associated costs vary in relation to the fixed hourly billing rates provided
           in the contract, we will generate more or less profit, or could incur a loss.

     •     Fixed-price contracts. Under a fixed-price contract, we agree to perform the specified work for a pre-
           determined price. To the extent our actual costs vary from the estimates upon which the price was negotiated,
           we will generate more or less than the anticipated amount of profit or could incur a loss. Some fixed-price
           contracts have a performance-based component, pursuant to which we can earn incentive payments or incur
           financial penalties based on our performance.

   Cost of Services
      Cost of services includes the direct costs to provide our services and business solutions to clients. The most
significant of these costs are the salaries and wages, plus associated fringe benefits, of our employees directly serving
clients. Cost of services also includes the costs of subcontractors and outside consultants, third-party materials, such as
hardware or software that we purchase and provide to the client as part of an integrated solution, and any other direct
costs, such as travel expenses incurred to support contract efforts.

   Selling, General and Administrative Expenses
      Selling, general and administrative expenses include the salaries and wages, plus associated fringe benefits, of our
employees not performing work directly for clients. Among the functions covered by these costs are asset and facilities
management, business development, research and development, contracts and legal, finance and accounting, executive
and senior management, human resources, and information system support. Facilities-related costs are also included in
selling, general and administrative expenses.

   Depreciation and Amortization
     Depreciation and amortization includes depreciation of computers and other equipment, the amortization of software
we use internally, the amortization of leasehold improvements, and the amortization of identified intangible assets.

DEFINITION OF CERTAIN TERMS USED IN THIS MANAGEMENT’S DISCUSSION AND ANALySIS
      The following is our definition of certain terms we have used in our discussion and analysis.



                                                             45
      Backlog
       We define backlog to include funded and unfunded orders for services under existing signed contracts, assuming
 the exercise of all options relating to those contracts, less the amount of revenue we have previously recognized under
 those contracts. Backlog includes all contract options that have been priced but not yet funded. Backlog also includes the
 contract value under single award indefinite delivery, indefinite quantity, or ID/IQ, contracts against which we expect
 future task orders to be issued without competition. Backlog does not take contract ceiling value into consideration under
 multiple award contracts, nor does it include any estimate of future potential delivery orders that might be awarded under
 multiple award ID/IQ vehicles, government-wide acquisition contracts, or GWACs, or General Services Administration,
 or GSA, schedule contracts. We define funded backlog to be the portion of backlog for which funding currently is
 appropriated and obligated to us under a contract or other authorization for payment signed by an authorized purchasing
 authority.
      We cannot guarantee that we will recognize any revenue from our backlog. The federal government has the
 prerogative to cancel any contract or delivery order at any time. Most of our contracts and delivery orders have cancellation
 terms that would permit us to recover all or a portion of our incurred costs and potential fees in such cases. Backlog varies
 considerably from time to time as current contracts or delivery orders are executed and new contracts or delivery orders
 under existing contracts are won.

      Days Sales Outstanding
       We calculate days sales outstanding, or DSO, by dividing the average accounts receivable at the beginning and end
 of the period, net of average billings in excess of revenue, by revenue per day in the period. Revenue per day for a quarter
 is determined by dividing total revenue by 90 days. Revenue per day for a year is determined by dividing total revenue
 by 360 days.

      Direct Labor Utilization
       We define direct labor utilization as the ratio of labor dollars worked on customer engagements to total labor
 dollars worked. We include every working employee of the company in the computation. We exclude leave taken, such
 as vacation time or sick leave, so that we can understand how we are applying worked labor. Leave actually taken by our
 employees is largely beyond the control of management in the near term.

      Organic Growth
       We calculate organic growth by comparing our actual reported revenue in the current period, including revenue
 attributable to acquired companies, with adjusted revenue from the prior-year period. In arriving at prior-year revenue,
 we include the revenue of acquired companies for the prior-year periods comparable to the current-year periods for which
 the acquired companies are included in our actual reported revenue. The resulting growth rate is intended to represent
 our organic, or non-acquisitive, growth year-over-year, including comparable period growth attributable to acquired
 companies. For illustrative purposes, we compute our fiscal 2007 organic growth rate of 3.4% as follows:
                                                                                                                                    year Ended June 30,
                                                                                                                                                             %
                                                                                                                             2007            2006         Increase
Revenue, as reported . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    $ 1,268,872    $ 1,179,267       7.6%
   Plus: Revenue from acquired companies for the comparable prior year period. .                                                  —           48,022
Organic Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $ 1,268,872    $ 1,227,289       3.4%

 Recent Accounting Pronouncements
       In July 2006, the Financial Accounting Standards Board, or FASB, issued Interpretation (FIN) 48, “Accounting
 for Uncertainty in Income Taxes—an interpretation of FASB Statement No. 109,” which clarifies the accounting for
 uncertainty in income taxes recognized in an enterprise’s financial statements in accordance with FASB Statement
 No. 109, “Accounting for Income Taxes,” and prescribes a recognition threshold and measurement attribute for the
 financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. FIN 48
 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure,




                                                                                      46
and transition. FIN 48 is effective for fiscal years beginning after December 15, 2006. We are currently evaluating what
effect the adoption of FIN 48 will have on our financial position, results of operations, or cash flows, particularly with
respect to our recent acquisition of Constella.
      During September 2006, the Securities and Exchange Commission released Staff Accounting Bulletin, or SAB No.
108, “Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial
Statements.” SAB No. 108 requires a registrant to quantify all misstatements that could be material to financial statement
users under both the “rollover” and “iron curtain” approaches. If either approach results in quantifying a misstatement
that is material the registrant must adjust its financial statements. SAB No. 108 is applicable for our fiscal year ended
June 30, 2007. Our adoption of SAB No. 108 did not have a material impact on our consolidated financial statements.
      In September 2006, the FASB issued SFAS No. 157, “Fair Value Measurements.” SFAS No. 157 provides a new
single authoritative definition of fair value and enhanced guidance for measuring the fair value of assets and liabilities.
It requires additional disclosures related to the extent to which companies measure assets and liabilities at fair value, the
information used to measure fair value, and the effect of fair value measurements on earnings. SFAS No. 157 is effective
for fiscal years beginning after November 15, 2007, and interim periods within those fiscal years. We are currently
evaluating what effect, if any, the adoption of SFAS No. 157 will have on our financial position, results of operations, or
cash flows.
      In February 2007, the FASB issued SFAS No. 159, “The Fair Value Option for Financial Assets and Financial
Liabilities – Including an Amendment of FASB Statement No. 115.” SFAS No. 159 permits entities to choose to measure
eligible items at fair value at specified election dates and report unrealized gains and losses on items for which the fair
value option has been elected in earnings at each subsequent reporting date. SFAS No. 159 is effective for fiscal years
beginning after November 15, 2007. We are currently evaluating what effect, if any, the adoption of SFAS No. 159 will
have on our financial position, results of operations, or cash flows.

Item 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
     Financial instruments that potentially subject us to credit risk consist primarily of cash equivalents, short- and long-
term investments, and accounts receivable.
      We believe that concentrations of credit risk with respect to cash equivalents and investments are limited due to
the high credit quality of these investments. Our investment policy requires that investments be in direct obligations of
the U.S. government, certain U.S. government sponsored entities, investments that are secured by direct or sponsored
U.S. government obligations, or certain corporate or municipal debt obligations rated at least single-A or A-1/P-1, as
applicable, by both Moody’s Investor Service and Standard and Poor’s. Our policy does not allow investment in any
equity securities or the obligations of any entity under review for possible downgrade by a major rating service to a debt
rating below single-A.
      Investments in both fixed and floating rate interest earning instruments carry a degree of interest rate risk. Fixed
securities may have their fair market value adversely affected because of a rise in interest rates, while floating rate
securities may produce less income than expected if interest rates fall. Due in part to these factors, our future investment
income may fall short of expectations because of changes in interest rates or we may suffer losses in principal if forced
to sell securities which have seen a decline in market value because of changes in interest rates. Investments are made in
accordance with an investment policy approved by our board of directors. Under this policy, no investment securities may
have maturities exceeding two years and the average duration of the portfolio cannot exceed nine months.
     We believe that concentrations of credit risk with respect to accounts receivable are limited as they are primarily
federal government receivables.
      As of June 30, 2007 and 2006, the carrying value of financial instruments approximated fair value. These
investments primarily consist of corporate and municipal bonds with maturities of 4 months or less that are classified as
held-to-maturity.

Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARy DATA
     The consolidated financial statements of SRA International, Inc. and subsidiaries are submitted on pages F-1
through F-24 of this report.




                                                             47
Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
     None.

Item 9A. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures
      Our management, with the participation of our chief executive officer and chief financial officer, evaluated the
effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange
Act) as of June 30, 2007. Based on this evaluation, our chief executive officer and chief financial officer concluded that,
as of June 30, 2007, our disclosure controls and procedures were effective at the reasonable assurance level.
      No change in our internal control over financial reporting occurred during the fiscal quarter ended June 30, 2007
that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
     The certifications of our chief executive officer and chief financial officer required under Section 302 of the
Sarbanes-Oxley Act have been filed as Exhibits 31.1 and 31.2 to this report. Additionally, in 2006, our Chief Executive
Officer certified to the New York Stock Exchange (NYSE) that he was not aware of any violation by the company of the
New York Stock Exchange corporate governance listing standards.




                                                            48
          MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
     The management of SRA International, Inc. and subsidiaries (the “Company”) is responsible for establishing and
maintaining adequate internal control over financial reporting, as that term is defined in Exchange Act Rule 13a-15(f),
and for assessing the effectiveness of internal control over financial reporting. The Company’s internal control over
financial reporting is designed to provide reasonable assurance regarding the reliability and fair presentation of published
financial statements in accordance with generally accepted accounting principles.
      Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may
deteriorate.
      Under the supervision and with the participation of management, including our chief executive officer and chief
financial officer, management assessed the effectiveness of the Company’s internal control over financial reporting as of
June 30, 2007 using the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission
in Internal Control—Integrated Framework. This assessment excluded the internal control over financial reporting at
RABA Technologies, LLC which was acquired on October 26, 2006 and whose financial statements reflect eight percent
and one percent of net and total assets, respectively, three percent of revenue and six percent of net income of the
related consolidated financial statement amounts as of and for the year ended June 30, 2007. Based on this assessment,
management determined that the Company’s internal control over financial reporting was effective as of June 30, 2007.
      Deloitte & Touche LLP (“D&T”), an independent registered public accounting firm, has issued an attestation report
on management’s assessment of the Company’s internal control over financial reporting. The D&T report immediately
follows this report.

/s/ sTANTON D. sLOANE
President and Chief Executive Officer


/s/ sTEPHEN C. HUGHEs
Chief Financial Officer and Executive Vice President Operations




                                                                  49
               REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON
                       INTERNAL CONTROL OVER FINANCIAL REPORTING

To the Board of Directors and Stockholders of SRA International, Inc. and Subsidiaries
      We have audited management’s assessment, included in the accompanying Management’s Report on Internal
Control Over Financial Reporting, that SRA International, Inc. and subsidiaries (the “Company”) maintained effective
internal control over financial reporting as of June 30, 2007, based on the criteria established in Internal Control—
Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”).
As described in Management’s Report on Internal Control Over Financial Reporting, management excluded from its
assessment the internal control over financial reporting at RABA Technologies LLC., which was acquired on October 26,
2006 and whose financial statements constitute eight percent and one percent of net and total assets, respectively, three
percent of revenue, and six percent of net income of the consolidated financial statements as of and for the year ended
June 30, 2007. Accordingly, our audit did not include the internal control over financial reporting at RABA Technologies
LLC. The Company’s management is responsible for maintaining effective internal control over financial reporting
and for its assessment of the effectiveness of internal control over financial reporting. Our responsibility is to express
an opinion on management’s assessment and an opinion on the effectiveness of the Company’s internal control over
financial reporting based on our audit.
     We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board
(United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether effective internal control over financial reporting was maintained in all material respects. Our audit included
obtaining an understanding of internal control over financial reporting, evaluating management’s assessment, testing
and evaluating the design and operating effectiveness of internal control, and performing such other procedures as we
considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinions.
      A company’s internal control over financial reporting is a process designed by, or under the supervision of, the
company’s principal executive and principal financial officers, or persons performing similar functions, and effected
by the company’s board of directors, management, and other personnel to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements for external purposes in accordance with
generally accepted accounting principles. A company’s internal control over financial reporting includes those policies
and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect
the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are
recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting
principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of
management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection
of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial
statements.
     Because of the inherent limitations of internal control over financial reporting, including the possibility of collusion
or improper management override of controls, material misstatements due to error or fraud may not be prevented or
detected on a timely basis. Also, projections of any evaluation of the effectiveness of the internal control over financial
reporting to future periods are subject to the risk that the controls may become inadequate because of changes in
conditions, or that the degree of compliance with the policies or procedures may deteriorate.
      In our opinion, management’s assessment that the Company maintained effective internal control over financial
reporting as of June 30, 2007, is fairly stated, in all material respects, based on the criteria established in Internal
Control—Integrated Framework issued by COSO. Also in our opinion, the Company maintained, in all material
respects, effective internal control over financial reporting as of June 30, 2007, based on the criteria established in
Internal Control—Integrated Framework issued by COSO.
      We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United
States), the consolidated financial statements and financial statement schedule as of and for the year ended June 30, 2007
of the Company and our report dated August 10, 2007 expressed an unqualified opinion on those financial statements
and financial statement schedule.
/s/ DELOITTE & TOUCHE LLP

McLean, VA
August 10, 2007

                                                             50
Item 9B. OTHER INFORMATION
   None.


                   [REMAINDER OF PAGE LEFT BLANK INTENTIONALLY]




                                        51
                                                        PART III

Item 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
      The information required to be set forth herein is contained under the heading “Executive Officers of the Registrant”
in Part I of this report. Other information required by this Item will be included under the headings “Proposal 1—
Election of Directors” , “Corporate Governance” and “Section 16(a) Beneficial Ownership reporting Compliance” in the
definitive proxy statement for our 2007 annual meeting of stockholders, or the 2007 proxy statement, which sections are
incorporated herein by reference.

Item 11. EXECUTIVE COMPENSATION
      The information required by this Item will be included under the headings “Director Compensation,” “Executive
Compensation,” “Compensation Committee Report on Executive Compensation,” and “Compensation Committee
Interlocks and Insider Participation,” in the 2007 proxy statement, which sections are incorporated herein by reference.

Item 12. SECURITy OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
RELATED STOCKHOLDER MATTERS
      The information required by this Item will be included under the headings “Beneficial Ownership of Common
Stock” and “Equity Compensation Plan Information” in the 2007 proxy statement, which sections are incorporated herein
by reference.

Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
INDEPENDENCE
     The information required by this Item will be included under the heading “Certain Relationships and Related
Transactions” in the 2007 proxy statement, which section is incorporated herein by reference.

Item 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES
     The information required by this Item will be included under the heading “Proposal 2—Ratification of Selection of
Independent Auditors” in the 2007 proxy statement, which section is incorporated herein by reference.




                                                            52
                                                                             PART IV

Item 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
(a) Documents filed as part of the report:
     (1) Consolidated Financial Statements
                                                                                                                                                          Page
          Report of Independent Registered Public Accounting Firm on the Consolidated
             Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   F-1
          Consolidated Balance Sheets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       F-2
          Consolidated Statements of Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .             F-4
          Consolidated Statements of Changes in Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                            F-5
          Consolidated Statements of Cash Flows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               F-6
          Notes to Consolidated Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                F-7

     (2) Financial Statement Schedule


          Schedule II—Valuation and Qualifying Accounts for the three years ended June 30, 2007                                                           F-25

          All other schedules for which provision is made in the applicable accounting regulations of the Securities and
          Exchange Commission are not required under the related instructions or are inapplicable, and therefore have
          been omitted.


     (3) Exhibits
  Exhibit
  Number                                                                                Description

  2.1†††          Agreement and Plan of Merger, by and among SRA International, Inc., Alex Acquisition Corporation, and
                  Adroit Systems, Inc., dated January 3, 2003. Pursuant to Item 601(b)(2) of Regulation S-K, the exhibits
                  and schedules of the Agreement and Plan of Merger are omitted.
  2.2             Equity Purchase Agreement dated June 20, 2007 and Closing Agreement dated August 9, 2007, by and
                  among SRA International, Inc., Systems Research Applications Corporation, Constella Group, LLC, and
                  Donald A. Holzworth, as Seller Representative and certain identified shareholders of Constella. Pursuant
                  to Item 601(b)(2) of Regulation S-K, the exhibits and schedules of the Equity Purchase Agreement and
                  Closing Agreement are omitted.
  3.1††           Amended and Restated Certificate of Incorporation of the Registrant
  3.2†            Amended and Restated By-Laws of the Registrant
  4.1†            Specimen common stock certificate
  4.2             See Exhibits 3.1 and 3.2 for provisions of the Certificate of Incorporation and By-Laws of the Registrant
                  defining the rights of holders of common stock of the Registrant
 10.1†            1994 Stock Option Plan, as amended*
 10.2†            1985 Key Employee Incentive Plan*
 10.3†            2002 Stock Incentive Plan*
 10.4†            Deferred Compensation Plan for Key Employees, as amended*
 10.5†            Office Lease Agreement, dated May 11, 1999, between the Registrant and Fair Lakes North and South
                  L.P., as amended




                                                                                   53
    10.6†      Office Lease Agreement, dated May 11, 1999, between the Registrant and Fair Lakes North and South
               L.P., as amended
    10.8†      401(k) Savings Plan, as amended and restated effective January 1, 2001*
    10.8a^     Amendment to 401(k) Savings Plan*
10.11†         Stockholders Agreement among the Registrant, General Atlantic Partners 75, L.P., GAP Coinvestment
               Partners II, L.P., GapStar, LLC, GAPCO GmbH & Co. KG and the stockholders named therein, dated
               April 23, 2002
10.12†         Registration Rights Agreement among the Registrant, General Atlantic Partners 75, L.P., GAP Coinvestment
               Partners II, L.P., GapStar, LLC, and GAPCO GmbH & Co. KG and the stockholders named therein, dated
               April 23, 2002

10.13†         Stock Purchase Agreement among the Registrant, General Atlantic Partners 75, L.P., GAP Coinvestment
               Partners II, L.P., GapStar, LLC, GAPCO GmbH & Co. KG and the stockholders named therein, dated
               April 22, 2002
10.14††††      Employment Agreement dated April 18, 2007 between SRA International, Inc. and Stanton D. Sloane*
    21.1       Subsidiaries of the Registrant
    23.1       Consent of Independent Registered Public Accounting Firm
    31.1       Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of
               1934, as amended
    31.2       Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of
               1934, as amended
    32.1       Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to
               Section 906 of the Sarbanes-Oxley Act of 2002
    32.2       Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to
               Section 906 of the Sarbanes-Oxley Act of 2002

†      Previously filed and incorporated by reference to the Registrant’s Registration Statement on Form S-1 filed on
       May 21, 2002 (333-83780).
††     Incorporated by reference to the Registrant’s Annual Report on Form 10-K for the fiscal year ended June 30, 2002
       (File No. 001-31334).
††† Incorporated by reference to the Registrant’s Current Report on Form 8-K filed with the SEC on February 13, 2002
    (File No. 001-31334).
†††† Incorporated by reference to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2007.
     (File No. 001-31334).
^      Incorporated by reference to the Registrant’s Annual Report on Form 10-K for the fiscal year ended June 30, 2003
       (File No. 001-31334).
*      Management contract or compensatory plan, contract or arrangement.




                                                           54
                                                      SIGNATURES
     Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Fairfax, Virginia
on the 15th day of August, 2007.


                                                                    SRA INTERNATIONAL, INC.
                                                                    By:                 /s/   sTANTON D. sLOANE
                                                                                              Stanton D. Sloane
                                                                                    President and Chief Executive Officer
                                                                                        (Principal Executive Officer)


      Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the dates indicated.
                  Signature                                       Title                                        Date

      /s/ STANTON D. SLOANE                President and Chief Executive Officer                        August 15, 2007
               Stanton D. Sloane              (Principal Executive Officer)
      /s/      STEPHEN C. HUGHES           Chief Financial Officer and Executive Vice                   August 15, 2007
               Stephen C. Hughes             President Operations (Principal Financial
                                             and Accounting Officer)

                                           Chairman
                Ernst Volgenau

            /s/ JOHN W. BARTER             Director                                                     August 15, 2007
                John W. Barter

      /s/     Renato A. DiPentima          Director                                                     August 15, 2007
              Renato A. DiPentima

             /s/ Larry R. Ellis            Director                                                     August 15, 2007
                 Larry R. Ellis

       /s/ MILES R. GILBURNE               Director                                                     August 15, 2007
               Miles R. Gilburne

       /s/ MICHAEL R. K LEIN               Director                                                     August 15, 2007
               Michael R. Klein

                                           Director
              David H. Langstaff

                                           Director
               Delbert C. Staley

        /s/     GAiL R. WiLENsky           Director                                                     August 15, 2007
               Gail R. Wilensky




                                                             55
                                SRA INTERNATIONAL, INC. AND SUBSIDIARIES

            REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON THE
                          CONSOLIDATED FINANCIAL STATEMENTS
To the Board of Directors and Stockholders of
SRA International, Inc. and Subsidiaries
      We have audited the accompanying consolidated balance sheets of SRA International, Inc. and subsidiaries (the
“Company”) as of June 30, 2007 and 2006, and the related consolidated statements of operations, changes in stockholders’
equity, and cash flows for each of the three years in the period ended June 30, 2007. Our audits also included the financial
statement schedule listed in the Index at Item 15(a)(2). These financial statements and financial statement schedule are
the responsibility of the Company’s management. Our responsibility is to express an opinion on the financial statements
and financial statement schedule based on our audits.
      We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board
(United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our opinion.
      In our opinion, such consolidated financial statements present fairly, in all material respects, the financial position
of SRA International, Inc. and subsidiaries as of June 30, 2007 and 2006, and the results of their operations and their cash
flows for each of the three years in the period ended June 30, 2007, in conformity with accounting principles generally
accepted in the United States of America. Also, in our opinion, such financial statement schedule, when considered
in relation to the basic consolidated financial statements taken as a whole, presents fairly, in all material respects, the
information set forth therein.
      We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United
States), the effectiveness of the Company’s internal control over financial reporting as of June 30, 2007, based on the
criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations
of the Treadway Commission and our report dated August 10, 2007 expressed an unqualified opinion on management’s
assessment of the effectiveness of the Company’s internal control over financial reporting and an unqualified opinion on
the effectiveness of the Company’s internal control over financial reporting.


/s/ DELOITTE & TOUCHE LLP

McLean, Virginia
August 10, 2007




                                                            F-1
                                               SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                                                           CONSOLIDATED BALANCE SHEETS
                                                                    (in thousands)
                                                                                       Assets
                                                                                                                                                           June 30,
                                                                                                                                                    2007              2006
Current assets:
    Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               $ 212,034      $ 173,564
    Short-term investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                     85          9,834
    Accounts receivable, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                262,409        268,908
    Prepaid expenses and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                   26,285         23,382
    Deferred income taxes, current . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                      5,860          4,839
Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .          506,673        480,527
Property and equipment, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  36,685         37,462
Other assets:
    Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .        256,530        169,334
    Identified intangibles, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                30,849         26,169
    Deferred income taxes, noncurrent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                         8,163          3,462
    Deferred compensation trust . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                     8,784          7,768
Total other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .        304,326        206,733
Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $ 847,684      $ 724,722




                        The accompanying notes are an integral part of these consolidated financial statements.


                                                                                          F-2
                                               SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                                                        CONSOLIDATED BALANCE SHEETS
                                                  (in thousands, except share and per share amounts)
                                                               Liabilities and Stockholders’ Equity
                                                                                                                                                          June 30,
                                                                                                                                                   2007              2006
Current liabilities:
    Accounts payable and accrued expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                         $ 110,897       $ 115,545
    Accrued payroll and employee benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                            81,711          59,463
    Billings in excess of revenue recognized. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                          16,980           5,952
Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .          209,588         180,960
Long-term liabilities:
    Other long-term liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               12,641              10,465
Total long-term liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .             12,641              10,465
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    222,229             191,425
Commitments and contingencies

Stockholders’ equity:
    Preferred stock, par value $0.20 per share; 5,000,000 shares authorized; none issued. . . .                                                      —                  —
    Class A common stock, par value $0.004 per share; 180,000,000 shares authorized;
       43,576,434 and 42,158,048 shares issued as of June 30, 2007 and 2006; 42,865,008
       and 41,403,312 shares outstanding as of June 30, 2007 and 2006 . . . . . . . . . . . . . . . . .                                              174                169
    Class B common stock, par value $0.004 per share; 55,000,000 shares authorized;
       14,199,828 and 14,459,828 shares issued and outstanding as of June 30, 2007
       and 2006. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .             57              58
    Additional paid-in capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                302,970         274,552
    Treasury stock, at cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .              (5,996)         (6,302)
    Retained earnings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .            328,250         264,820
Total stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .              625,455         533,297
Total liabilities and stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                    $ 847,684       $ 724,722




                        The accompanying notes are an integral part of these consolidated financial statements.


                                                                                          F-3
                                               SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                                               CONSOLIDATED STATEMENTS OF OPERATIONS
                                                (in thousands, except share and per share amounts)
                                                                                                                                   year Ended June 30,
                                                                                                                            2007          2006              2005
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $ 1,268,872      $ 1,179,267 $        881,770
Operating costs and expenses:
    Cost of services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .            954,656          880,802          653,115
    Selling, general and administrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                       200,204          183,297          126,404
    Depreciation and amortization. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                       21,187           18,201           13,141
        Total operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . .                        1,176,047        1,082,300          792,660
Operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               92,825           96,967           89,110
Interest income, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .              6,276            4,232            3,442
Gain on sale of Mantas, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                    3,674              —                —
Income before taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .              102,775          101,199           92,552
Provision for income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                   39,345           38,679           34,829
Net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     $    63,430      $    62,520 $         57,723
Earnings per share:
    Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $         1.12   $         1.14 $         1.09
    Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $         1.09   $         1.08 $         1.02
Weighted-average shares:
    Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       56,476,927       55,064,138     52,965,623
    Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       58,381,788       57,738,875     56,549,303




                        The accompanying notes are an integral part of these consolidated financial statements.


                                                                                        F-4
                                                         SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                                CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITy
                                                (in thousands, except share amounts)
                                                    Class A              Class B       Additional                         Deferred
                                                Common Stock         Common Stock       Paid-In      Treasury Stock      Stock-Based Retained
                                               Shares     Amount    Shares     Amount    Capital   Shares     Amount Compensation Earnings       Total
Balance, July 1, 2004 . . . . . . . . . . .  47,177,442     $194  20,374,410     $ 78  $ 241,695 (15,776,376) $ (46,560)    $ (716)  $ 144,577 $ 339,268
 Net income . . . . . . . . . . . . . . . . . .     —        —           —        —          —           —          —         —         57,723    57,723
 Issuance of common stock (a) . . .           2,134,537        9         —        —       10,128         —          —           56         —      10,193
 Reissuance of treasury stock . . . .               —        —           —        —        4,030     122,530        405        —           —       4,435
 Adjustment due to stock split . . . .      (10,937,171)     (49) (3,882,352)     (12)   (41,255) 14,834,323     41,316        —           —         —
 Tax benefits of stock option
    exercises . . . . . . . . . . . . . . . . .         —      —             —       —         17,156         —          —        —            —      17,156
 Shares converted between
    classes . . . . . . . . . . . . . . . . . . .   864,592        3     (864,592)     (3)        —           —          —        —            —         —
 Compensatory stock options
    issued or modified . . . . . . . . . .              —      —             —       —            —           —          —         240         —         240
 Amortization of deferred
    stock-based compensation. . . .                     —      —              —      —            —           —           —         77         —          77
Balance, June 30, 2005 . . . . . . . . . . 39,239,400          157     15,627,466     63      231,754    (819,523)     (4,839)    (343)    202,300   429,092
 Net income . . . . . . . . . . . . . . . . . .         —      —              —      —            —           —           —        —        62,520    62,520
 Issuance of common stock (a) . . . 1,751,010                    7            —      —         13,911         —           —       (919)        —      12,999
 Reissuance of treasury stock . . . .                   —      —              —      —          3,198     134,162         799      —           —       3,997
 Purchase of treasury stock . . . . . .                 —      —              —      —            —       (69,375)     (2,262)     —           —      (2,262)
 Tax benefits of stock option
    exercises . . . . . . . . . . . . . . . . .         —      —             —       —         13,774         —          —        —            —      13,774
 Shares converted between
    classes . . . . . . . . . . . . . . . . . . . 1,167,638        5   (1,167,638)     (5)        —           —          —        —            —         —
 FAS 123(R) stock based
    compensation. . . . . . . . . . . . . .             —      —             —       —         12,803         —          —        —            —      12,803
 Amortization of deferred
    stock-based compensation. . . .                     —      —              —      —            —           —           —        374         —         374
Balance, June 30, 2006 . . . . . . . . . . 42,158,048          169     14,459,828     58      275,440    (754,736)     (6,302)    (888)    264,820   533,297
 Net income . . . . . . . . . . . . . . . . . .         —      —              —      —            —           —           —        —        63,430    63,430
 Issuance of common stock (a) . . . 1,158,386                    4            —      —          8,872         —           —        674         —       9,550
 Reissuance of treasury stock . . . .                   —      —              —      —            855      46,392         390      —           —       1,245
 Purchase of treasury stock . . . . . .                 —      —              —      —            —        (3,082)        (84)     —           —         (84)
 Tax benefits of stock option
    exercises . . . . . . . . . . . . . . . . .         —      —             —       —          6,521         —          —        —            —        6,521
 Shares converted between
    classes . . . . . . . . . . . . . . . . . . .   260,000        1     (260,000)     (1)        —           —          —        —            —         —
 FAS 123(R) stock based
    compensation. . . . . . . . . . . . . .             —      —             —       —         11,282         —          —        —            —       11,282
 Amortization of deferred
    stock-based compensation. . . .                     —      —              —       —            —           —          —        214          —         214
Balance, June 30, 2007 . . . . . . . . . . 43,576,434         $174     14,199,828    $ 57    $ 302,970   (711,426)   $ (5,996)   $ —      $ 328,250 $ 625,455

          (a)      Relates to the exercise of stock options, vesting of restricted stock, and the issuance of common stock for the
                   ESPP.




                                  The accompanying notes are an integral part of these consolidated financial statements.




                                                                                       F-5
                                             SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                                             CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                           (in thousands)

                                                                                                                                   year Ended June 30,
                                                                                                                            2007          2006              2005
Cash flows from operating activities:
   Net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $ 63,430        $ 62,520        $ 57,723
       Adjustments to reconcile net income to net cash
          provided by operating activities:
            Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                       21,187          18,201         13,141
            Stock-based compensation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                       11,496          13,177            317
            Tax benefits of stock option exercises . . . . . . . . . . . . . . . . . . . . . . . .                             —               —           17,156
            Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                   (5,722)         (1,901)        (3,570)
            Gain on sale of Mantas, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                      (3,674)            —              —
            Changes in assets and liabilities, net of the effect of acquisitions:
                 Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                    17,425          (41,822)       (39,172)
                 Prepaid expenses and other . . . . . . . . . . . . . . . . . . . . . . . . . . . .                         (2,667)           2,250          2,941
                 Accounts payable and accrued expenses . . . . . . . . . . . . . . . . . .                                  (8,991)          32,609          7,704
                 Accrued payroll and employee benefits. . . . . . . . . . . . . . . . . . .                                 17,385            2,534          8,226
                 Billings in excess of revenue recognized . . . . . . . . . . . . . . . . . .                               11,028             (664)         1,622
                 Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .            1,547              (73)          (100)
Net cash provided by operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                    122,444           86,831         65,988
Cash flows from investing activities:
       Capital expenditures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .              (12,624)        (15,639)       (21,353)
       Purchases of investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                     —            (9,748)       (18,516)
       Sales and maturities of investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                        9,749          25,723         15,983
       Acquisition of Touchstone Consulting Group, net of cash acquired . . . . .                                               —               —          (37,124)
       Acquisition of Galaxy Scientific Corporation, net of cash acquired . . . . .                                             —           (95,645)           —
       Acquisition of Spectrum Solutions Group, net of cash acquired. . . . . . . .                                          (8,000)         (8,802)           —
       Acquisition of Mercomms Unlimited, net of cash acquired . . . . . . . . . . .                                             —             (637)           —
       Acquisition of RABA Technologies, net of cash acquired . . . . . . . . . . . .                                       (94,005)            —              —
       Proceeds from sale of Mantas, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                         3,674             —              —
Net cash used in investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                (101,206)       (104,748)       (61,010)
Cash flows from financing activities:
       Issuance of common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  9,550          12,999          10,193
       Tax benefits of stock option exercises . . . . . . . . . . . . . . . . . . . . . . . . . . . .                      6,521          13,774             —
       Reissuance of treasury stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  1,245           3,997           4,435
       Purchase of treasury stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  (84)         (2,262)            —
Net cash provided by financing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                   17,232          28,508          14,628
Net increase in cash and cash equivalents. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                    38,470          10,591          19,606
Cash and cash equivalents, beginning of period. . . . . . . . . . . . . . . . . . . . . . . . . .                        173,564         162,973         143,367
Cash and cash equivalents, end of period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 $ 212,034       $ 173,564       $ 162,973
Supplemental disclosures of cash flow information:
       Cash paid during the period:
            Income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .         $ 38,012        $ 26,377        $ 21,211
       Cash received during the period:
            Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $      6,103    $      4,219    $    3,897
            Income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .         $        938    $      1,038    $      652




                       The accompanying notes are an integral part of these consolidated financial statements.


                                                                                     F-6
                               SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  years Ended June 30, 2007, 2006, and 2005
1. Summary of Significant Accounting Policies:
Principles of Consolidation
     The accompanying consolidated financial statements include the accounts of SRA International, Inc. (a Delaware
corporation), and its wholly-owned subsidiaries (SRA or the Company). All intercompany transactions and balances have
been eliminated.

Nature of Business
       SRA provides technology and strategic consulting services and solutions primarily to clients in national security,
civil government, and health care and public health. Since SRA’s founding in 1978, the Company has derived substantially
all of its revenue from services provided to federal government clients.
      Revenue from contracts with federal government agencies was 99 percent of total revenue for all periods presented
herein. The National Guard, as a client group, accounted for approximately 10 percent, and 11 percent of revenue for
the years ended June 30, 2006, and 2005, respectively. The United States Agency for International Development, as a
client, accounted for approximately 10 percent, and 12 percent of revenue for the years ended June 30, 2006, and 2005,
respectively. No other client or client group accounted for more than 10 percent of revenue in the periods presented
herein.

Accounting Estimates
       The preparation of financial statements in conformity with accounting principles generally accepted in the United
States of America requires management to make estimates and judgments in determining the reported amounts of assets,
liabilities, revenue and expenses, as well as the disclosure of contingent assets and liabilities. On an ongoing basis, the
Company evaluates its estimates, including those related to revenue recognition, doubtful accounts receivable, goodwill
and other intangible assets, and other contingent liabilities. The Company bases its estimates on historical experience
and various other factors that are deemed reasonable at the time the estimates are made. Actual results may differ from
estimates under different assumptions or conditions. See the Revenue Recognition section of this Note and Notes 2, 5, 10,
and 11 for additional information on certain estimates included in the Company’s consolidated financial statements.

Revenue Recognition

   Contract Accounting
      The Company recognizes revenue when persuasive evidence of an arrangement exists, services have been rendered
or goods delivered, the contract price is fixed or determinable, and collectibility is reasonably assured. The Company has
a standard management process that we use to determine whether all required criteria for revenue recognition have been
met. This standard management process includes a regular review of the Company’s contract performance. This review
covers, among other matters, outstanding action items, progress against schedule, effort and staffing, requirements
stability, quality, risks and issues, subcontract management, cost, commitments, and client satisfaction. During this
review the Company determines whether the overall progress on a contract is consistent with the effort expended.
      Absent evidence to the contrary, the Company recognizes revenue as follows. Revenue on cost-plus-fee contracts
is recognized to the extent of costs actually incurred plus a proportionate amount of the fee earned. The Company
considers fixed fees under cost-plus-fee contracts to be earned in proportion to the allowable costs actually incurred in
performance of the contract. Revenue on time-and-materials contracts is recognized based on the hours actually incurred
at the negotiated contract billing rates, plus the cost of any allowable material costs and out-of-pocket expenses. Revenue
on fixed-price contracts where the Company performs systems design, development and integration is recognized
using the percentage-of-completion method of contract accounting. Unless it is determined as part of the Company’s
regular contract performance review that overall progress on a contract is not consistent with costs expended to date,
the Company determines the percentage completed based on the percentage of costs incurred to date in relation to total
estimated costs expected upon completion of the contract. Revenue on fixed-price outsourcing and managed services
contracts is generally recognized ratably over the contract period. Revenue on fixed-price strategic consulting contracts



                                                           F-7
                                           SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                          NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                                      years Ended June 30, 2007, 2006, and 2005
is generally recognized based on costs incurred because these services are directed by the Company’s customers and are
subject to their needs which fluctuate throughout the contract period. The Company considers performance-based fees,
including award fees, under any contract type to be earned when it can demonstrate satisfaction of performance goals,
based upon historical experience, or the Company receives contractual notification from a client that the fee has been
earned. Billings for hardware or software purchased by customers under one of the Company’s contracts where we act
as an agent to the transaction are excluded from the Company’s revenue and cost of services, except to the extent of any
handling fee or profit earned.
      Contract revenue recognition inherently involves estimation. Examples of estimates include the contemplated level
of effort to accomplish the tasks under contract, the cost of the effort, and an ongoing assessment of the Company’s
progress toward completing the contract. From time to time, as part of its standard management processes, facts develop
that require the Company to revise our estimated total costs or revenue. To the extent that a revised estimate affects
contract profit or revenue previously recognized, the Company records the cumulative effect of the revision in the period
in which the facts requiring the revision become known. The full amount of an anticipated loss on any type of contract is
recognized in the period in which it becomes probable and can be reasonably estimated.
     The Company may proceed with work based on client direction prior to the completion and signing of formal
contract documents. The Company has a formal review process for approving any such work. Revenue associated with
such work is recognized only when it can be reliably estimated and realization is probable. The Company bases its
estimates on previous experiences with the client, communications with the client regarding funding status, and its
knowledge of available funding for the contract or program.
      The Company maintains reserves for doubtful accounts receivable that may arise in the normal course of business.
This allowance for doubtful accounts is based on several factors, including the customer’s payment history, the age of
the accounts receivable, and management’s judgment regarding the likelihood of collection. Historically, the Company
has not had significant write-offs of doubtful accounts receivable related to work performed for the federal government.
However, the Company does perform work on contracts and task orders where, on occasion, issues arise that lead to
accounts receivable not being collected.
     Revenue for the years ended June 30, 2007, 2006, and 2005 was earned from the following contract types:
                                                                                                                       2007   2006   2005
     Cost-plus-fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   43%    45%    46%
     Time-and-materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .          42     40     34
     Fixed-price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   15     15     20

   Software Licensing and Related Activities
      The Company enters into arrangements, which may include the sale of licenses of the Company’s proprietary
software, consulting services and maintenance, or various combinations of each element. The Company recognizes
revenue based on Statement of Position (SOP) 97-2, “Software Revenue Recognition,” as amended, and modified by
SOP 98-9, “Modification of SOP 97-2, Software Revenue Recognition, With Respect to Certain Transactions.” SOP 98-9
modified SOP 97-2 by requiring revenue to be recognized using the “residual method” if certain conditions are met.
Revenue is recognized based on the residual method when an agreement has been signed by both parties, the fees are
fixed or determinable, collection of the fees is probable, delivery of the product has occurred, and no other significant
obligations remain. In the limited cases where return or refund rights have been offered, the Company defers all revenue
recognition until the end of the return or refund period. Total software licensing and related activities revenue was
$5,368,000, $3,961,000, and $4,148,000 for the years ended June 30, 2007, 2006, and 2005, respectively. Software
licensing of the Company’s proprietary software and related activities revenue was less than one percent of consolidated
revenue for all periods presented.




                                                                                    F-8
                                SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                                years Ended June 30, 2007, 2006, and 2005
Research and Development Costs
      Research and development costs are expensed as incurred. Total research and development costs, which are included
in selling, general and administrative expenses, were $1,215,000, $1,290,000, and $1,638,000 for the years ended June 30,
2007, 2006, and 2005, respectively.

Internal-Use Computer Software
      The Company capitalizes costs incurred to license and implement software for internal-use in accordance with SOP
98-1, “Accounting for the Costs of Computer Software Developed or Obtained for Internal-Use.” Such costs are amortized
over periods ranging from three to seven years. Internal-use software costs capitalized were $213,000, $638,000, and
$2,813,000 for the years ended June 30, 2007, 2006, and 2005, respectively.

Impairment of Long-Lived Assets
      Whenever events or changes in circumstances indicate that the carrying amount of long-lived assets and other
intangibles may not be fully recoverable, the Company evaluates the probability that future undiscounted net cash flows,
without interest charges, will be less than the carrying amount of the assets. If an impairment is indicated as a result of
this review, the Company recognizes a loss based on the amount by which the carrying amount exceeds the estimated
discounted future cash flows.

Income Taxes
      The Company utilizes the asset and liability method of accounting for income taxes. Under this method, deferred
income taxes are recognized for the tax consequences of temporary differences between the financial statement carrying
amounts and the tax bases of existing assets and liabilities less valuation allowances, if required. Enacted statutory tax
rates are used to compute the tax consequences of these temporary differences.

Deferred Compensation Plan
      Certain key employees of the Company are eligible to defer a specified percentage of their cash compensation by
having it contributed to a nonqualified deferred compensation plan. Eligible employees may elect to defer up to 50 percent
of their base salary and up to 100 percent of performance bonuses, reduced by any amounts withheld for the payment
of taxes or other deductions required by law. The Company funds its deferred compensation liabilities by making cash
contributions to a Rabbi Trust at the time the salary or bonus being deferred would otherwise be payable to the employee.
Gains or losses on amounts held in the Rabbi Trust are fully allocable to plan participants. As a result, there is no net
impact on the Company’s results of operations, and the liability to plan participants is fully funded at all times.

Cash and Cash Equivalents
     The Company considers all highly liquid investments with a current maturity of 90 days or less to be cash
equivalents.

Investments in Debt Securities
     The Company considers all investments with current maturity dates of one year or less that do not qualify as cash
equivalents to be short-term investments. The Company does not purchase investments with original maturity dates that
exceed two years. The Company classifies all investments in debt securities as held-to-maturity and accounts for these
investments at amortized cost.

Property and Equipment
      Property and equipment, including major additions or improvements thereto, are recorded at cost and depreciated
over their estimated useful lives ranging from three to seven years using the straight-line method. Leasehold improvements
are amortized over the lesser of the lease term or the asset’s estimated useful life, but typically not exceeding seven years,



                                                             F-9
                                SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                                years Ended June 30, 2007, 2006, and 2005
using the straight-line method. Depreciation and amortization expense related to property and equipment, including
capitalized internal-use computer software, was $14,428,000, $13,205,000, and $11,150,000 for the years ended June 30,
2007, 2006, and 2005, respectively.

Goodwill and Intangible Assets
      Goodwill, which represents the excess of the cost of an acquired entity over the net amounts assigned to assets
acquired and liabilities assumed, is assessed for impairment under Statement of Financial Accounting Standards
(SFAS) No. 142, “Goodwill and Other Intangible Assets” (Note 5). Intangible assets with finite lives are amortized on
a straight-line basis over their useful lives, typically determined with the assistance of an outside valuation firm, of 5 to
12 years. Intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that their
carrying value may not be recoverable in accordance with SFAS No. 144, “Accounting for Impairment or Disposal of
Long-Lived Assets.”
Concentration of Credit Risk and Fair Value of Financial Instruments
      Financial instruments that potentially subject the Company to credit risk consist primarily of cash equivalents,
short- and long-term investments, and accounts receivable. The Company believes that concentrations of credit risk with
respect to cash equivalents and investments are limited due to the high credit quality of these investments. The Company’s
investment policy requires that investments be in direct obligations of the U.S. government, certain U.S. government
sponsored entities, investments that are secured by direct or sponsored U.S. government obligations, or certain corporate
or municipal debt obligations rated at least single-A or A-1/P-1, as applicable, by both Moody’s Investor Service and
Standard and Poor’s. The Company’s policy does not allow investment in any equity securities or the obligations of any
entity under review for possible downgrade by a major rating service to a debt rating below single-A.
      Investments in both fixed and floating rate interest earning instruments carry a degree of interest rate risk. Fixed
rate securities may have their fair market value adversely affected because of a rise in interest rates, while floating rate
securities may produce less income than expected if interest rates fall. Due in part to these factors, our future investment
income may fall short of expectations because of changes in interest rates or the Company may suffer losses in principal
if forced to sell securities which have seen a decline in market value because of changes in interest rates. Investments
are made in accordance with an investment policy approved by the Company’s board of directors. Under this policy, no
investment securities may have original maturities exceeding two years and the average duration of the portfolio cannot
exceed nine months.
     The Company believes that concentrations of credit risk with respect to accounts receivable are limited as they are
primarily federal government receivables.
      As of June 30, 2007 and 2006, the carrying value of financial instruments approximated fair value. These investments
primarily consist of corporate and municipal debt obligations with maturities of 4 months or less that are classified as
held-to-maturity.

Stock Split
     On May 2, 2005, the Company’s board of directors declared a two-for-one split of the Company’s outstanding
common stock in the form of a 100 percent stock dividend. The stock dividend was distributed on May 27, 2005 to
stockholders of record on May 13, 2005.
      The par value of the Company’s common stock was not adjusted with the stock split and remains at $0.004 per
share. As a result, the Company reclassified amounts from additional paid-in capital to class A and class B par value of
common stock based on the total shares of common stock issued. The Company used treasury shares to satisfy a portion
of the stock dividend. The issuance of treasury shares was accounted for by transferring the book value of those shares
from treasury stock to additional paid-in capital.
      All per share amounts, outstanding shares of common stock, and common stock equivalents reported in the
accompanying consolidated financial statements and notes thereto have been adjusted to retroactively reflect the
stock split.



                                                            F-10
                                        SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                        NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                                    years Ended June 30, 2007, 2006, and 2005
Earnings Per Share
     The Company calculates basic and diluted earnings per share (EPS) in accordance with SFAS No. 128, “Earnings
Per Share.” Basic EPS is computed by dividing reported net income by the basic weighted-average number of common
shares outstanding. Diluted EPS considers the potential dilution that could occur if securities or other contracts to issue
common stock were exercised or converted into common stock. The difference between basic and diluted weighted-
average common equivalent shares with respect to the Company’s EPS calculation is due to the effect of potential future
exercises of stock options and vesting of restricted stock shares.
      The Company currently has outstanding shares of class A and class B common stock. Our class A and class B
common stock have equal dividend and liquidation rights. The only difference between the two classes is that holders of
our class A common stock are entitled to one vote per share and holders of our class B common stock are entitled to ten
votes per share. Each share of class B common stock is convertible at any time at the option of the holder into one share
of class A common stock.
      Basic and diluted EPS have been calculated using the if-converted method for class A common stock and the
two-class method for class B common stock pursuant to SFAS 128. The two-class method is an earnings allocation
formula that determines EPS for each class of common stock according to the weighted-average of dividends declared,
outstanding shares per class and participation rights in undistributed earnings. The computation of EPS by applying the
two-class method does not yield a different result than that provided under the if-converted method.
      Undistributed earnings are calculated as follows (in thousands):
                                                                                                              year Ended
                                                                                                               June 30,
                                                                                                    2007           2006        2005
                 Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     $63,430         $62,520    $57,723
                 Less: dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .          —               —          —
                 Undistributed earnings . . . . . . . . . . . . . . . . . . . . . . . .           $63,430         $62,520    $57,723

      Weighted-average common shares outstanding are calculated as follows (in thousands):
                                                                                                                      year Ended
                                                                                                                        June 30,
                                                                                                      2007               2006               2005
                                                                                                Class A Class B    Class A Class B    Class A Class B
Basic weighted-average common shares outstanding . . . . . . . . . .                            42,151 14,326 40,270 14,794 36,937 16,028
Assumed conversion of class B shares . . . . . . . . . . . . . . . . . . . . . .                14,326    —   14,794    —   16,028    —
Effect of potential exercise or vesting of stock-based awards . . . .                            1,905    —    2,675    —    3,584    —
Diluted weighted-average common shares outstanding . . . . . . . .                              58,382 14,326 57,739 14,794 56,549 16,028

     Stock options that were not included in the computation of diluted weighted-average common shares outstanding,
because to do so would have been antidilutive were 1,749,771, 1,490,708, and 375,000 for the years ended June 30, 2007,
2006, and 2005, respectively.




                                                                               F-11
                                              SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                                         years Ended June 30, 2007, 2006, and 2005
        Basic and diluted EPS are calculated as follows (in thousands, except per share amounts):
                                                                                                             year Ended
                                                                                                              June 30,
                                                                                     2007                       2006                      2005
                                                                           Class A          Class B   Class A       Class B     Class A          Class B
Basic
Weighted-average shares outstanding . . . . . . . .                            42,151        14,326       40,270       14,794       36,937       16,028
Divided by: Total weighted-average shares
   outstanding (class A and class B) . . . . . . . . .                      56,477        56,477       55,064       55,064       52,966       52,966
Multiplied by: Undistributed earnings . . . . . . . .                      $63,430       $63,430      $62,520      $62,520      $57,723      $57,723
Subtotal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $47,340       $16,090      $45,723      $16,797      $40,255      $17,468
Divided by: Weighted-average shares
   outstanding . . . . . . . . . . . . . . . . . . . . . . . . . .             42,151        14,326       40,270       14,794       36,937       16,028
Earnings per share . . . . . . . . . . . . . . . . . . . . . . .           $     1.12    $     1.12   $     1.14   $     1.14   $     1.09   $     1.09
Diluted
Weighted-average shares outstanding . . . . . . . .                            58,382        14,326       57,739       14,794       56,549       16,028
Divided by: Total weighted-average shares
   outstanding (class A and class B) . . . . . . . . .                      58,382        58,382       57,739       57,739       56,549       56,549
Multiplied by: Undistributed earnings . . . . . . . .                      $63,430       $63,430      $62,520      $62,520      $57,723      $57,723
Subtotal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $63,430       $15,565      $62,520      $16,019      $57,723      $16,361
Divided by: Weighted-average shares
   outstanding . . . . . . . . . . . . . . . . . . . . . . . . . .             58,382        14,326       57,739       14,794       56,549       16,028
Earnings per share . . . . . . . . . . . . . . . . . . . . . . .           $     1.09    $     1.09   $     1.08   $     1.08   $     1.02   $     1.02

Recent Accounting Pronouncements
       In July 2006, the FASB issued Interpretation (FIN) 48, “Accounting for Uncertainty in Income Taxes—an
interpretation of FASB Statement No. 109,” which clarifies the accounting for uncertainty in income taxes recognized in
an enterprise’s financial statements in accordance with FASB Statement No. 109, “Accounting for Income Taxes,” and
prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of
a tax position taken or expected to be taken in a tax return. FIN 48 also provides guidance on derecognition, classification,
interest and penalties, accounting in interim periods, disclosure, and transition. FIN 48 is effective for fiscal years
beginning after December 15, 2006. The Company is currently evaluating what effect the adoption of FIN 48 will have on
its financial position, results of operations, or cash flows, particularly with respect to its recent acquisition of Constella.
      In September 2006, the Securities and Exchange Commission released Staff Accounting Bulletin (SAB) No. 108,
“Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial
Statements.” SAB No. 108 requires a registrant to quantify all misstatements that could be material to financial statement
users under both the “rollover” and “iron curtain” approaches. If either approach results in quantifying a misstatement
that is material the registrant must adjust its financial statements. SAB No. 108 is applicable for the Company’s fiscal
year ended June 30, 2007. The adoption of SAB No. 108 did not have a material impact on the Company’s consolidated
financial statements.
      In September 2006, the Financial Accounting Standards Board (FASB) issued SFAS No. 157, “Fair Value
Measurements.” SFAS No. 157 provides a new single authoritative definition of fair value and enhanced guidance
for measuring the fair value of assets and liabilities. It requires additional disclosures related to the extent to which
companies measure assets and liabilities at fair value, the information used to measure fair value, and the effect of fair
value measurements on earnings. SFAS No. 157 is effective for fiscal years beginning after November 15, 2007, and
interim periods within those fiscal years. The Company is currently evaluating what effect, if any, the adoption of SFAS
No. 157 will have on its financial position, results of operations, or cash flows.




                                                                                  F-12
                                            SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                          NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                                      years Ended June 30, 2007, 2006, and 2005
      In February 2007, the FASB issued SFAS No. 159, “The Fair Value Option for Financial Assets and Financial
Liabilities – Including an Amendment of FASB Statement No. 115.” SFAS No. 159 permits entities to choose to measure
eligible items at fair value at specified election dates and report unrealized gains and losses on items for which the fair
value option has been elected in earnings at each subsequent reporting date. SFAS No. 159 is effective for fiscal years
beginning after November 15, 2007. The Company is currently evaluating what effect, if any, the adoption of SFAS No.
159 will have on its financial position, results of operations, or cash flows.

Reclassifications
      Certain reclassifications have been made to prior-period balances to conform to the current-period presentation,
including the reclassification of prepaid software licenses and maintenance on cost-plus-fee and time–and-materials
contracts from accounts receivable to billings in excess of revenue recognized.

2. Accounts Receivable:
     Accounts receivable, net as of June 30, 2007 and 2006 consisted of the following (in thousands):
                                                                                                                                               2007         2006
     Billed and billable, net of allowance of $2,689 and $1,614 as of June 30, 2007
         and 2006, respectively . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                      $ 240,735    $ 245,007
     Unbilled:
         Retainages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                   4,508        5,347
         Revenue recorded in excess of milestone billings on fixed-price contracts . . .                                                       11,585        7,210
         Revenue recorded in excess of contractual authorization, billable upon
            receipt of contractual amendments/documents . . . . . . . . . . . . . . . . . . . . . . .                                            7,188       13,079
         Allowance for unbillable amounts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                                  (1,607)      (1,735)
             Total unbilled . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                     21,674       23,901
     Total accounts receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                      $ 262,409    $ 268,908

      The billable receivables included in the billed and billable line item above represent primarily revenue earned in the
final month of the reporting period and were billable as of the balance sheet date. These billable receivables are typically
billed and collected within 90 days of the balance sheet date.
      Consistent with industry practice, certain receivables related to long-term contracts are classified as current, although
a portion of these amounts is not expected to be billed and collected within one year. Unbilled accounts receivable at
June 30, 2007 are expected to be billed and collected within one year except for approximately $1.5 million related to a
portion of retainages.

3. Prepaid Expenses and Other:
     Prepaid expenses and other as of June 30, 2007 and 2006 consisted of the following (in thousands):
                                                                                                                                                  2007       2006
     Hardware and equipment purchased on behalf of customers . . . . . . . . . . . . . . . . . . . .                                            $ 1,706    $10,468
     Prepaid maintenance and software. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                           17,610      7,385
     Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .        6,969      5,529
     Total prepaid expenses and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                       $26,285    $23,382




                                                                                       F-13
                                            SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                          NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                                      years Ended June 30, 2007, 2006, and 2005
4. Property and Equipment:
     The components of property and equipment as of June 30, 2007 and 2006 are as follows (in thousands):
                                                                                                                                       2007             2006
     Leasehold improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  $ 25,853          $ 24,653
     Furniture, equipment, and software . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                        65,636            59,387
        Subtotal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .         91,489            84,040
     Less: Accumulated depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . .                                  (54,804)          (46,578)
        Total property and equipment, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                        $ 36,685          $ 37,462

5. Goodwill and Identified Intangibles:
     The components of goodwill and identified intangible assets as of June 30, 2007 and 2006 are as follows (in
thousands):
                                                                                                                                     2007              2006
     Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       $ 256,530            $ 169,334
     Identified intangibles. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               46,704               35,265
         Subtotal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .         303,234              204,599
     Less: Accumulated amortization. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                        (15,855)              (9,096)
         Total goodwill and identified intangibles . . . . . . . . . . . . . . . . . . . . . . . . . .                          $ 287,379            $ 195,503

      Goodwill must be reviewed annually for impairment. The Company performs this review at the beginning of each
calendar year. The Company performed the annual goodwill impairment analysis as of January 1, 2007 and concluded
that there was no impairment of goodwill. Amortization expense of identified intangibles was $6,759,000, $4,996,000,
and $1,991,000 for the years ended June 30, 2007, 2006, and 2005, respectively. Identified intangibles are being amortized
on a straight-line basis over a period of 5 to 12 years.
     The changes in the carrying amount of goodwill were as follows (in thousands):


     Balance as of July 1, 2005 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .              $ 89,214
        Acquisition of Galaxy and Spectrum. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                             80,120
     Balance as of June 30, 2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                   169,334
        Acquisition of RABA and Spectrum . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                              87,196
     Balance as of June 30, 2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 $ 256,530

     Estimated amortization expense is as follows for the periods indicated (in thousands):
     Years ending June 30,
        2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    $ 7,533
        2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      6,983
        2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      6,206
        2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      4,845
        2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      2,199
        Thereafter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .         3,083
            Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     $30,849




                                                                                     F-14
                                          SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                         NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                                     years Ended June 30, 2007, 2006, and 2005
6. Accounts Payable and Accrued Expenses:
     Accounts payable and accrued expenses as of June 30, 2007 and 2006 consisted of the following (in thousands):
                                                                                                                                 2007         2006
     Vendor obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .          $ 101,877    $ 108,803
     Current taxes payable and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                     9,020        6,742
     Total accounts payable and accrued expenses . . . . . . . . . . . . . . . . . . . . . . . . . .                           $ 110,897    $ 115,545

7. Accrued Payroll and Employee Benefits:
     Accrued payroll and employee benefits as of June 30, 2007 and 2006 consisted of the following (in thousands):
                                                                                                                                   2007        2006
     Accrued salaries and incentive compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . .                         $35,018     $17,714
     Accrued leave . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       32,334     27,858
     Accrued fringe benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .             14,359     13,891
     Total accrued payroll and employee benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                       $ 81,711    $59,463

8. Other Long-Term Liabilities:
     Other long-term liabilities as of June 30, 2007 and 2006 consisted of the following (in thousands):
                                                                                                                                   2007        2006
     Liability to deferred compensation plan participants . . . . . . . . . . . . . . . . . . . . . .                            $ 8,784     $ 7,768
     Incentives for tenant improvements and other . . . . . . . . . . . . . . . . . . . . . . . . . . . .                          3,857       2,697
     Total other long-term liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .             $12,641     $10,465

9. Benefit Plan:
     The Company maintains a defined contribution plan, the SRA International, Inc. 401(k) Savings Plan (Plan). All
regular and full-time employees are generally eligible to participate in the Plan. The board of directors of SRA may elect
to make matching or other discretionary contributions to the Plan. The Company’s matching contribution expense was
$12,484,000, $10,026,000, and $7,477,000 for the years ended June 30, 2007, 2006, and 2005, respectively, including the
value of the stock described in the next paragraph.
      Plan participants may elect to receive matching contributions in cash, company stock, or a combination of the
two. Matching contributions are earned by participants on the basis of their calendar year contributions to the Plan. The
Company makes the matching contributions, including the transfer of class A common stock, each January for participant
contributions made during the previous calendar year. The Company contributed 46,392, 56,142, and 107,730 shares of
class A common stock to the Plan during the years ended June 30, 2007, 2006, and 2005, respectively.

10. Stockholders’ Equity and Stock Options:
Preferred Stock
     The Company is authorized to issue 5,000,000 shares of preferred stock, $0.20 par value per share, the terms and
conditions of which are determined by the board of directors at each issuance. No preferred stock has been issued.

Common Stock
      Holders of class A common stock are entitled to dividends per share in an amount equal to dividends per share
declared and paid on class B common stock. Holders of both classes of common stock vote as a single class, with each
share of class A common stock having one vote per share and each share of class B common stock having ten votes per
share. Holders of both classes of common stock would share ratably in the net assets of the Company upon its liquidation
or dissolution.



                                                                                   F-15
                                SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                                years Ended June 30, 2007, 2006, and 2005
Treasury Stock
     In limited circumstances, the Company may elect to repurchase shares of outstanding common stock from employees
upon the exercise of stock options, or upon the vesting of restricted stock, for the purpose of satisfying the minimum
required tax withholding.
      Our Board of Directors has authorized the repurchase of up to $40 million of the Company’s class A common stock.
The timing, price, quantity and manner of the purchases can be determined at the discretion of the Company’s CEO. The
Company has not repurchased any shares in accordance with this authorization.

Stock Options
Accounting for Stock-Based Compensation:

   Stock-Based Benefit Plans
      The Company maintained a key employee incentive plan that was approved by the Company’s stockholders in
November 1994. All options granted by the Company from November 1994 until January 2002 were granted under this
1994 plan. Following completion of the Company’s initial public offering of stock in May 2002, no additional options
were granted under this plan. Under the terms of the plan, options to purchase class A common stock or class B common
stock were granted by the board of directors to key employees. The option price per share was determined by the board
of directors and generally was no less than the fair value of the stock on the date of grant of the option. Prior to becoming
publicly traded, the Company retained an independent valuation firm to assist the board of directors in assessing the fair
value of the stock. Each option is exercisable within periods and in increments determined by the board of directors.
       In March 2002, the Company adopted the SRA International, Inc. 2002 Stock Incentive Plan. Upon adoption, up
to 7,058,822 shares of class A common stock were reserved for issuance under the 2002 plan. Pursuant to the terms of
the 2002 plan, the number of shares authorized for issuance automatically increases at the beginning of each fiscal year,
beginning with the fiscal year ended June 30, 2004. An additional 8,074,514 shares of class A common stock were reserved
for issuance pursuant to the automatic increase feature of the 2002 plan through July 1, 2007. The 2002 plan provides for
the grant of incentive stock options, non-statutory stock options, restricted stock, and other stock-based awards. The 2002
plan is administered by the compensation committee of the board of directors, which determines the number of shares
covered by options, and the exercise price, vesting period, and duration of option grants. The board of directors also has
the authority under the 2002 plan to determine the number of shares of common stock subject to any restricted stock or
other stock-based awards and the terms and conditions of such awards. The 2002 plan expires in March 2012.

   Adoption of SFAS No. 123R
      Effective July 1, 2005, the Company adopted SFAS No. 123 (revised 2004), “Share-Based Payment,” which requires
that compensation costs related to share-based payment transactions be recognized in financial statements. The Company
applied the modified prospective method under which compensation costs for all awards granted after the date of adoption
and the unvested portion of previously granted awards outstanding at the date of adoption are measured at estimated fair
value and included in operating expenses over the vesting period during which an employee provides service in exchange
for the award. The Company’s restricted stock awards are considered nonvested share awards as defined under SFAS
No. 123R.
      Prior to the adoption of SFAS No. 123R, the Company reported all tax benefits resulting from the exercise of
stock options as operating cash flows in the consolidated statements of cash flows. In accordance with SFAS No. 123R,
for the period beginning July 1, 2005, excess tax benefits from the exercise of stock options are presented as financing
cash flows. The excess tax benefits totaled $6.5 million and $13.8 million for the years ended June 30, 2007 and 2006,
respectively. Such benefits were $17.2 million for the year ended June 30, 2005, and are presented as a component of
operating cash flows.




                                                            F-16
                               SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                               years Ended June 30, 2007, 2006, and 2005
      Under the provisions of SFAS No. 123R, the Company recorded $11.5 million and $13.2 million of stock-based
compensation expense in its statement of operations for the years ended June 30, 2007 and 2006, respectively. This
stock-based compensation expense reduced both basic and diluted earnings per share by $0.12 and $0.14 for the years
ended June 30, 2007 and 2006, respectively.

   Fair Value Determination
       The fair value concepts were not changed significantly in SFAS No. 123R; however, in adopting this Standard,
companies must choose among alternative valuation models and amortization assumptions. The Company has elected
to continue to use both the Black-Scholes-Merton option pricing model and straight-line amortization of compensation
expense over the requisite service period of the grant. The Company will reconsider use of the Black-Scholes-Merton
model if additional information becomes available in the future that indicates another model would be more appropriate,
or if grants issued in future periods have characteristics that cannot be reasonably estimated using this model.
     The Company has 10-year and 15-year options. The following weighted-average assumptions were used for option
grants during the years ended June 30, 2007, 2006 and 2005:
      Expected Volatility. The expected volatility of the Company’s shares was estimated based upon the historical
volatility of the Company’s share price. The expected volatility factor used in valuing options granted during the years
ended June 30, 2007, 2006, and 2005 was 31 percent, 32 percent and 31 percent, respectively.
     Expected Term. The expected term was estimated based upon exercise experience of option grants made in the past
to Company employees. Historical experience shows that employees typically exercise options prior to the end of the
contractual term. The expected term used in valuing options granted for all periods presented was 5 years.
     Risk-free Interest Rate. The Company bases the risk-free interest rate used in the Black-Scholes-Merton valuation
method on the implied yield available on a U.S. Treasury note with a term equal to the expected term of the underlying
grants. The weighted-average risk-free interest rate used in valuing options granted during the years ended June 30, 2007,
2006 and 2005 was 4.7 percent, 4.2 percent, and 3.6 percent, respectively.
     Dividend Yield. The Black-Scholes-Merton valuation model calls for single expected dividend yield as an input.
The Company has not paid dividends in the past nor does it expect to pay dividends in the future. As such, the Company
used a dividend yield percentage of zero for all periods presented.

   Stock Compensation Expense
      In accordance with SFAS No. 123R, the Company estimates forfeitures and is recognizing compensation expense
only for those share-based awards that are expected to vest. SFAS No. 123R requires forfeitures to be estimated at
the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Our
estimate of the forfeiture rate is based primarily upon historical experience of employee turnover.
      The Company recorded $11.5 million and $13.2 million of stock-based compensation expense for the years ended
June 30, 2007 and 2006, respectively. The lower stock-based compensation expense reflects adjustments to account for
the forfeitures of certain share-based awards in excess of what was estimated at the time of grant.
     As of June 30, 2007, there was $23.8 million of total unrecognized compensation cost related to nonvested
share-based compensation arrangements. This cost is expected to be fully amortized in four years, with half of the total
amortization cost being recognized within the next 14 months.

   Stock Option Activity
      During the year ended June 30, 2007, the Company granted stock options to purchase 627,202 shares of class A
common stock at a weighted-average exercise price of $25.48 per share based on the fair value of class A common stock
on the date of grant. The Black-Scholes-Merton weighted-average value of options granted for the years ended June 30,
2007, 2006, and 2005, was $9.27, $12.32, and $7.80, respectively. Using the Black Scholes-Merton model, the total value
of the options granted for the years ended June 30, 2007, 2006, and 2005, was $5.2 million, $18.1 million, and $16.3
million respectively. The options vest at the rate of 25 percent per year over four years, beginning on the date of grant
and expire ten years from the grant date.

                                                          F-17
                                          SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                         NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                                     years Ended June 30, 2007, 2006, and 2005
     The following table summarizes stock option activity for the year ended June 30, 2007:
                                                                                                               Weighted-           Aggregate
                                                                                              Number of         Average          Intrinsic Value
                                                                                               Shares         Exercise Price     (in thousands)
     Shares under option, July 1, 2006 . . . . . . . . . . . . . . . . . . . . .               7,666,784         $ 18.00           $80,365
        Options granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .          627,202           25.48           $ —
        Options exercised. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .        (1,137,725)           7.33           $21,144
        Options cancelled and expired. . . . . . . . . . . . . . . . . . . . .                  (537,464)          29.44           $ 1,087
     Shares under option, June 30, 2007. . . . . . . . . . . . . . . . . . . .                 6,618,797         $ 19.62           $51,440
     Options exercisable at June 30, 2007 . . . . . . . . . . . . . . . . . .                  3,983,695         $ 14.83           $45,846
     Shares reserved for equity awards at June 30, 2007 . . . . . . .                          6,268,751

      Information with respect to stock options outstanding and stock options exercisable at June 30, 2007 was as
follows:
                                                                                                        Weighted-Average
                                                                                         Options          Remaining            Weighted-Average
     Range of Exercise Price                                                            Outstanding     Contractual Life        Exercise Price
     $3.17 - $5.07 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    1,209,458             6.8 years            $ 4.12
     $10.85 - $16.80 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      1,774,089             8.2                  $14.37
     $19.39 - $25.81 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      2,037,180             7.6                  $22.10
     $26.09 - $35.40 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      1,598,070             8.0                  $34.02
                                                                                        6,618,797
                                                                                                       Weighted-Average
                                                                                         Options          Remaining            Weighted-Average
     Range of Exercise Price                                                            Exercisable    Contractual Life         Exercise Price
     $3.17 - $5.07 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    1,209,458             6.8 years            $ 4.12
     $10.85 - $16.80 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      1,512,103             8.5                  $14.00
     $19.39 - $25.81 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .        751,664             6.9                  $20.92
     $26.09 - $35.40 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .        510,470             7.6                  $33.69
                                                                                        3,983,695

      During the years ended June 30, 2007 and 2006, the Company also granted 295,337 and 35,450 nonvested restricted
shares at a weighted-average grant date fair market value of $26.02 and $30.06 per share, respectively. These shares vest
at the rate of 25 percent per year over four years.
     The following table summarizes restricted stock activity for the year ended June 30, 2007:
                                                                                                               Number          Weighted-Average
                                                                                                               of Shares       Grant-Date Value
     Nonvested restricted shares at July 1, 2006 . . . . . . . . . . . . . . . . . . . . . . . . . .            44,450            $ 27.75
        Restricted shares granted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    295,337              26.02
        Restricted shares vested. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    (13,276)             27.09
        Restricted shares forfeited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    (18,465)             26.07
     Nonvested restricted shares at June 30, 2007. . . . . . . . . . . . . . . . . . . . . . . . .             308,046            $ 26.65

     As of June 30, 2007, there were 6,268,751 shares of Class A common stock reserved for issuance under the 2002
Stock Incentive Plan.




                                                                                 F-18
                                            SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                          NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                                      years Ended June 30, 2007, 2006, and 2005
   Pro Forma Disclosures
      Under the modified prospective method, results for the year ended June 30, 2005 were not restated to include
stock option expense. The previously disclosed pro forma effects of recognizing the estimated fair value of stock-based
employee compensation for the year ended June 30, 2005 (in thousands, except per share amounts) are presented below.


                                                                                                                                                      2005
     Net income, as reported. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $57,723
     Add: Stock-based employee compensation expense included in reported net income,
        net of related tax effects. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .         317
     Deduct: Total stock-based employee compensation expense determined under fair
        value based method for all awards, net of related tax effects . . . . . . . . . . . . . . . . . . . . . . . . . .                          (5,845)
     Pro forma net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $52,195
     Earnings per share:
         Basic—as reported. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $    1.09
         Basic—pro forma. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $    0.99
         Diluted—as reported . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    $    1.02
         Diluted—pro forma . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    $    0.92

Employee Stock Purchase Plan
      The Company maintains the SRA International, Inc. 2004 Employee Stock Purchase Plan (ESPP) and has reserved
500,000 shares for issuance thereunder. The ESPP was available to all eligible employees beginning on January 1, 2005.
The ESPP permits eligible employees to purchase class A common stock, through payroll deductions of up to 15% of the
employee’s compensation, at a price equal to 100% of the average of the high and low price of the common stock on the
last day of each offering period. Employees purchased 47,347 and 36,179 shares for the years ended June 30, 2007 and
2006, respectively, under the ESPP.

11. Income Taxes:
      The provision for federal and state income taxes for the years ended June 30, 2007, 2006, and 2005, included the
following (in thousands):
                                                                                                                      2007           2006             2005
     Current provision:
         Federal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     $37,789          $33,802       $31,328
         State . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     7,278            6,778         7,071
     Deferred provision:
         Federal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      (5,127)          (1,622)       (2,268)
         State . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      (595)            (279)       (1,302)
     Total income tax provision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                $39,345          $38,679       $34,829

      The Company’s effective income tax rate varied from the statutory federal income tax rate for the years ended June
30, 2007, 2006, and 2005 as follows:
                                                                                                                             2007         2006        2005
     Statutory federal income tax rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 35.0%      35.0%         35.0%
     State income taxes, net of federal income tax benefit . . . . . . . . . . . . . . . . . . .                              4.2        4.2           4.2
     Stock-based compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 0.0        0.1           0.1
     Municipal bond interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .             (0.9)      (0.5)         (0.9)
     Refunds and credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .           (0.1)      (0.8)         (1.0)
     Nondeductible expenses and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                     0.1        0.2           0.2
     Effective tax rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      38.3%      38.2%         37.6%

                                                                                     F-19
                                             SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                                       years Ended June 30, 2007, 2006, and 2005
     The components of the net deferred tax asset as of June 30, 2007 and 2006 were as follows (in thousands):
                                                                                                                                  2007        2006
     Deferred tax assets:
        Compensated absences and other accruals not yet deductible
           for tax purposes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .         $ 16,973    $ 14,762
        Financial statement depreciation in excess of tax depreciation. . . . . . . . . . . .                                      6,037       3,464
        Deferred compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  2,569       1,987
        Nonqualified stock awards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                    9,061       4,927
        State job creation credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 201         399
        Total deferred tax assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .              34,841      25,539
     Deferred tax liabilities:
        Identified intangibles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .            (8,188)     (5,809)
        Prepaid expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .            (6,571)     (2,804)
        Unbilled contract revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 (4,579)     (7,228)
        Capitalized software . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .              (1,480)     (1,397)
        Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .        —           —
        Total deferred tax liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .             (20,818)    (17,238)
     Net deferred tax asset . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .         $ 14,023    $ 8,301

12. Commitments and Contingencies:
Government Contracting
      Payments to the Company on cost-plus-fee contracts are provisional and are subject to adjustment upon audit by
the Defense Contract Audit Agency. Audits through June 30, 2005 have been completed. In the opinion of management,
audit adjustments that may result from audits for periods after June 30, 2005 are not expected to have a material effect on
the Company’s financial position, results of operations, or cash flows.
      Additionally, federal government contracts, by their terms, generally can be terminated at any time by the federal
government, without cause, for the convenience of the federal government. If a federal government contract is so
terminated, the Company would be entitled to receive compensation for the services provided and costs incurred through
the time of termination, plus a negotiated amount of profit. Federal government contractors who fail to comply with
applicable government procurement-related statutes and regulations may be subject to potential contract termination,
suspension and debarment from contracting with the government, or other remedies. Management believes the Company
has complied with all applicable procurement-related statutes and regulations.

Leases
     Net rent expense for the years ended June 30, 2007, 2006, and 2005 was as follows (in thousands):
                                                                                                                    2007          2006        2005
     Office space . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .        $30,637      $27,649     $23,726
     Sublease income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .              (1,486)      (1,085)       (936)
         Subtotal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .         29,151       26,564      22,790
     Furniture and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                     707          881         737
     Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $29,858      $27,445     $23,527




                                                                                       F-20
                                          SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                         NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                                     years Ended June 30, 2007, 2006, and 2005
     The following table summarizes our future minimum rental commitments under noncancellable operating leases,
primarily for office space, as of June 30, 2007 (in thousands).
                                                                                                                 Sublease      Net
                                                                                            Rental Commitments    Income    Commitments
     Years ending June 30,
         2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       $ 28,971         $ 631       $ 28,340
         2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .          26,732           632         26,100
         2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .          23,102           —           23,102
         2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .          18,954           —           18,954
         2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .          16,790           —           16,790
         Thereafter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .            56,622           —           56,622
     Total minimum lease payments . . . . . . . . . . . . . . . . . . . .                       $ 171,171        $1,263      $ 169,908

      The Company leases all of its office facilities. Leases for certain office space entitle the Company to incentives for
tenant improvements, rent holidays, or rent escalation clauses pursuant to its lease agreements. The incentives for tenant
improvements are recorded as liabilities and amortized as reductions in rent expense over the term of the respective
leases. The Company recognizes rent expense, including escalated rent and rent holidays, on a straight-line basis over the
term of the lease. Certain lease commitments are subject to adjustment based on changes in the Consumer Price Index.
      Capitalized lease obligations included in accounts payable and accrued expenses were $58,000 and $146,000 as of
June 30, 2007 and 2006 and represent the current portion of amounts due under leases for the use of computers and other
equipment. The long-term portion of the capital lease obligations was approximately $350,000 and $46,000 at June 30,
2007 and 2006, respectively and is included in other long-term liabilities. Included in property and equipment are related
assets of $1,018,879 and $1,362,000 less accumulated amortization of $522,000 and $1,187,000 as of June 30, 2007 and
2006, respectively.

13. Litigation
     The Company is involved in various legal proceedings concerning matters arising in the ordinary course of business.
The Company currently believes that any ultimate liability arising out of these proceedings will not have a material
adverse effect on the Company’s financial position, results of operations, or cash flows.

14. Related Party Transactions:
      In May 2001, Mantas, which was previously one of our service offerings, was contributed to a separate company,
Mantas, Inc., which was formed with funding and other contributions received from unrelated third parties. Mantas,
Inc. is a provider of services to the financial services industry to address anti-money laundering and other data mining
issues.
      In October 2006, i-flex solutions completed its acquisition of Mantas, Inc. The Company’s portion of the net sale
proceeds was approximately $4.4 million, including a portion to be held in escrow. The Company recognized a total
pre-tax gain of approximately $3.7 million during fiscal 2007. The remaining amount held in escrow will be recognized
as a gain upon the release of funds pursuant to the terms of the escrow agreement.
      For the periods presented, Mantas, Inc. utilized certain services provided by the Company, for which Mantas, Inc.
reimbursed the Company for such services. The Company allowed Mantas, Inc. to obtain certain travel and insurance-
related services utilizing the Company’s existing relationships with vendors. The total of such services received by Mantas,
Inc. was approximately $183,000 for the year ended June 30, 2005. Additionally, the Company provided labor services
when requested by Mantas, Inc. to support its administrative and client support activities. Approximately $304,000 of
such labor services were provided for the year ended June 30, 2005.




                                                                                   F-21
                                SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                                years Ended June 30, 2007, 2006, and 2005
15. Segment Reporting:
      Operating segments are defined as components of an enterprise about which separate financial information is
available that is evaluated regularly by the chief operating decision maker, or decision making group, in deciding how
to allocate resources and in assessing performance. Although the Company is organized by strategic business unit, the
Company considers each of its government contracting units to have similar economic characteristics, provide similar
types of services, and have a similar customer base. Accordingly, the Company reports one operating segment for
financial reporting purposes, the Consulting & System Integration (C&SI) business, which aggregates all of its current
operations.
     The C&SI segment represents the Company’s core business and includes high-end consulting services and
information technology solutions primarily for federal government clients. Since October 2002, the C&SI segment has
represented all of the Company’s ongoing operations.

16. Acquisitions:
Touchstone Consulting Group, Inc.
      In April 2005, the Company completed its acquisition of Touchstone Consulting Group, Inc., or Touchstone, a
privately-held management consultancy with an established track record of serving senior executives in the federal
government. Touchstone provides strategic consulting services to its customers throughout the federal government,
including the Department of Homeland Security, Department of Defense, intelligence agencies, and the Office of
Management and Budget. The Company acquired Touchstone for approximately $37.0 million net of acquisition costs,
from cash on hand. Approximately $6.5 million of the purchase price was allocated to identified intangibles and
approximately $26.5 million to goodwill. Pursuant to the requirements of SFAS No. 141 “Business Combinations,”
the effect of the acquisition did not meet the criteria of a material and significant acquisition, and therefore, pro forma
disclosures are not presented in these consolidated financial statements.

Galaxy Scientific Corporation
      In July 2005, the Company completed its acquisition of Galaxy Scientific Corporation, or Galaxy, a privately-held
provider of systems engineering, information technology, and tactical communication services and solutions to the federal
government. Galaxy specializes in command and control, communications, computers and intelligence (C4I) tactical
systems; information assurance; information technology; training systems; engineering support; and safety and security
technologies. The Company acquired Galaxy for approximately $98.7 million, net of acquisition costs, from cash on
hand. Approximately $12.0 million of the purchase price was allocated to identified intangibles and approximately $73.4
million to goodwill. Pursuant to the requirements of SFAS No. 141, “Business Combinations,” the acquisition did not
meet the criteria of a material and significant acquisition, and therefore, pro forma disclosures are not presented in these
consolidated financial statements.

Spectrum Solutions Group, Inc.
      In November 2005, the Company acquired Spectrum Solutions Group, Inc., or Spectrum, a privately-held
provider of enterprise solutions such as Oracle, SAP, PeopleSoft, and Seibel applications and technologies to the federal
government. The Company acquired Spectrum for approximately $9.7 million, net of acquisition costs, from cash on hand.
Approximately $0.9 million of the purchase price was allocated to identified intangibles and approximately $6.7 million
to goodwill. The Company agreed to make additional purchase price payments contingent upon the achievement of
certain milestones by Spectrum. In January 2007, the Company paid former shareholders of Spectrum $8.0 million in
additional purchase price. This additional purchase price payment resulted in an $8.0 million addition to goodwill. A
final additional purchase price payment, if certain milestones are met, will be paid to the former shareholders of Spectrum
in the quarter ending September 30, 2008. Pursuant to the requirements of SFAS No. 141, “Business Combinations,” the
acquisition did not meet the criteria of a material and significant acquisition, and therefore, pro forma disclosures are not
presented in these consolidated financial statements.




                                                            F-22
                                           SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                          NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                                      years Ended June 30, 2007, 2006, and 2005
Mercomms Unlimited, Inc.
      Effective April 10, 2006, SRA acquired Mercomms Unlimited, Inc., or Mercomms, which specializes in
advanced maritime and defense communications technologies for the federal government. Mercomms was acquired for
approximately $637,000, substantially all of which was assigned to identified intangibles. Pursuant to the requirements of
SFAS No. 141, “Business Combinations,” the acquisition did not meet the criteria of a material and significant acquisition,
and therefore, pro forma disclosures are not presented in these consolidated financial statements.

RABA Technologies, LLC
      In October 2006, the Company completed its acquisition of RABA Technologies, LLC or RABA, a provider of
high-end technical services to the national security and intelligence communities. RABA’s services include software
development, systems integration and operational support. The Company acquired RABA for approximately $95.0
million, net of acquisition costs, from cash on hand. Approximately $11.4 million of the purchase price was allocated to
identified intangible assets and approximately $79.2 million to goodwill.
      If certain milestones are met, an additional purchase price payment of up to $5.0 million will be paid to the former
stockholders of RABA. If paid, this contingent payment will result in additional goodwill in fiscal year 2009. Pursuant
to the requirements of SFAS No. 141 “Business Combinations,” the acquisition did not meet the criteria of a material
and significant acquisition, and therefore, pro forma disclosures are not presented in these consolidated financial
statements.

17. Quarterly Financial Data (Unaudited) (in thousands, except per share amounts):
                                                                                                    Income               Earnings
                                                                                        Operating   Before     Net     Per Share (a)
                                                                             Revenue     Income      Taxes   Income   Basic   Diluted
      year Ended June 30, 2007
      1st Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $ 304,034   $22,831 $24,674 $15,121 $ 0.27        $ 0.26
      2nd Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . .     321,045    22,064  27,209  16,683   0.30          0.29
      3rd Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . .     317,586    22,779  23,952  14,973   0.26          0.26
      4th Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . .     326,207    25,151  26,940  16,653   0.29          0.28

      year Ended June 30, 2006
      1st Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . .   $ 280,695   $22,788 $23,521 $14,390 $ 0.27        $ 0.25
      2nd Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . .     305,313    24,220  25,257  15,903   0.29          0.28
      3rd Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . .     296,098    23,019  23,845  14,783   0.27          0.26
      4th Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . .     297,161    26,940  28,576  17,444   0.31          0.30

(a)   The sum of earnings per share for the four quarters may differ from the annual earnings per share due to the
      required method of computing the weighted-average number of shares in the interim period.




                                                                               F-23
                                SRA INTERNATIONAL, INC. AND SUBSIDIARIES
                    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
                                years Ended June 30, 2007, 2006, and 2005
18. Subsequent Event:
   Acquisition of Constella Group, LLC
     On August 9, 2007, the Company completed its acquisition of all of the outstanding stock of Constella Group LLC,
or Constella, for approximately $186.9 million in cash. Approximately $51.6 million of the purchase price was used to
repay all outstanding debt obligations of Constella on the closing date. Approximately $16.0 million was placed into
escrow as security for the payment, if any, of post-closing net asset adjustments and to secure indemnification obligations.
The equity purchase agreement has been filed as Exhibit 2.2 to this report. Constella is a privately-held provider of
global health consulting services. Headquartered in Durham, NC, Constella employs more than 1,500 professionals
organized by three interrelated service offerings: domestic health sciences, international health development and global
drug development. Financing for the acquisition consisted of available cash and borrowings under a credit facility
obtained prior to closing.

   Revolving Credit Facility
     On August 9, 2007, the Company entered into a $100.0 million five-year unsecured revolving credit facility. The
agreement has an accordion feature enabling the credit facility to be increased by an additional $100.0 million, subject to
specified conditions. Outstanding borrowings under the agreement bear interest at a LIBOR based interest rate (currently
LIBOR plus 75 basis points). Interest is payable throughout the period a borrowing is outstanding. The Company
borrowed $100.0 million under this credit line to fund part of the acquisition of Constella.




                                                           F-24
                                               SRA INTERNATIONAL, INC. AND SUBSIDIARIES


                                                         years Ended June 30, 2007, 2006, and 2005
                                                    Schedule II—Valuation and Qualifying Accounts
      Activity in the Company’s allowance accounts for the years ended June 30, 2007, 2006, and 2005, was as follows
(in thousands):
                                                                 Allowance for Doubtful Accounts

                                                                                     Balance at    Charged to
                                                                                    Beginning of   Costs and                          Balance at End
Period                                                                                Period        Expenses    Deductions   Other      of Period
2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      $1,614       $ 1,510        $567       $ 132*      $2,689
2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       1,159            75          49         429*       1,614
2005. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      1,425            74         380          40*       1,159


                                                                Allowance for Unbillable Amounts

                                                                                     Balance at    Charged to
                                                                                    Beginning of   Costs and                          Balance at End
Period                                                                                Period        Expenses    Deductions   Other      of Period
2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      $1,735       $ ––           $128       $—          $1,607
2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .       1,852          21           138        —           1,735
2005. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      1,861          51            60        —           1,852

*       Represents allowances assumed in connection with acquisitions.




                                                                                    F-25
                                                                                                                                                                        2007 Annual Report | 26




SRA EmployEES
1978 • ERNST VOLGENAU • TED LEGASEY • WILLIAM BREHM • 1979 • BOB DAY • STUART RUBENS • 1980 • ANDY COHEN • SHERMAN GREENSTEIN • BARRY LANDEW • DIANE PULLIAM • 1981 • GAYNELL FRITZ • STEVE HUGHES • 1982
MATTHEW BLACK • SHURMAN BRYANT • JON HERTZOG • KEMP PRUGH • JUDY SAKOWITZ • RICHARD SHULLAW • 1983 • SUE AUSTIN • MIKE DUFFY • HELEN HORNER • ALAN JONES • SHERRIE JONES • THIA KIM • 1984 • GENE CARTIER
DAVID GARFIELD • BOB HANNAH • MARK LEAMAN • STAN LUCAS • GARY SCHWEIGERT • ANITA STOLAROW • 1985 • ANN ROWLEY • LISA THAMASETT • 1986 • HATTE BLEJER • BOB BORAH • MONICA CLEARY • BERNIE COHEN
LARISSA CURTIS • MARJORIE DAVIS • FRANK DOWLING • KEVIN GRAVES • CONNIE HAITH • RICHARD HORNER • TOM HUTTON • STUART KOPPERMAN • MARVIN LERFALD • TYRON MEADOWS • PHILIP OBER • LAWLEY PAISLEY-JONES
MARIANN REDDY • CARLA SAIA • JOAN VAN STEYN • JOHN VICKERS • WANDA WELLS-HINES • 1987 • MARGARET BARTON • JAN BATTEN • ALICE CANERDAY • ALFREDA CLARK • DAVE CONETSCO • SONYA FULLER • VICKI HOLIDAY • JIM JONES
RICHARD LABASH • JIM MCCOY • BOB MCLAUGHLIN • ROB MORRIS • ELLEN MOYER • CHARLIE PAYNE • JIM RODGERS • SEYMOUR SAMUELS • MIKE SIMMONS • JEFF SPURLIN • JOHN STRAIN • JEFFREY WESTERHOFF • JIM WOLFE • 1988
DELILAH BINES • DONNA BOUTTÉ SMITH • THERESA BROWN • ROB BURCIAGA • TOM CANAVAN • JILL CARTER • BILL CODY • ANDY COSTA • LUCINDA COX • KAY CURLING • MICHAEL FOX • LETETIA JOHNSON • DICK LOWE • MARTI MORANO
JOHN MORGAN • ALAN PAIGE • CHUCK PERRY • PAUL RIZZO • BILL SCHERER, SR. • GEORGE SILVAS • KATHY SIMMONS • 1989 • BEN LAM • JOHN MALONEY • ANGIE MCNEILL • CAL MILLER • ELISE OPPENHEIMER • ANGIE POORE
SEBASTIAN REYES • ROBERT RUE • SANDY SHINN • JAY SIEGEL • MIJ STRANGE • BRIAN THACKER • 1990 • ANNE DONOHUE • KEVIN FAGAN • JOHN KELLER • BOB MOORE • CHARLES OLAH • ROBERT PUGH • STEVE RATHERT • JOYCE REEVES
SANDRA ROGERS • DEBORAH SHIRLEY • MARSHA WESTON • 1991 • YOVONDA ALEXANDER • CHINATSU AONE • EMMA ARTINIAN • CLAIRE AVERY • LYNDA BADGER • AL BORNMANN • TOM BREIDENBACH • JAMES COE • MARK COONEY
VINNIE DEVITO • ALIX EVANS • JENNIFER KURZHALS • EMMET LUNG • MAC MCSWEENEY • MICHAEL MERCHANT • SUSAN MORGAN • JAMES MURPHY • DAVID PARK • CARL ROSENBLATT • JAMES SINGER • NGOC TRAN • OLGA VELAZQUEZ
BILL VERDOORN • 1992 • LESLIE AUCOIN • BILL BASS • DONNA BIRGE • KIMBERLY BLANCHFIELD • ALBERT BROOKS • VERONICA BURGESS • PAT BURKE • JIM CHOULAS • FRED CONNOLLY • PAUL COOK • TIM COOKE • JOHN COVENTRY
PAT COWAN • BRIAN CROSS • DANIELLE DANCY • TRACY DENISON • MIKE FISHER • LARRY FOBIAN • GENE FRANK • BRUCE GILBERT • BRENDA GRAVES • MAX HALL • GEORGE HARLEY • KATRINA HAWKINS • SCOTT HOGE • KATHLEEN HUTCHINSON
SUZANNE KOROW • ERIC KURZHALS • PAT LITTLE • ANNE MARSHALL • JIM MCCOLLOUGH • WILLIAM MCELYEA • DANNY MICHAEL • WENDI MITCHELL • MARK MULLER • KATHY NIELSEN • STEVE PORTER • GILES SCONYERS • TIM TWOMEY
WALT WILLIAMS • DAVID WILSON • 1993 • SCOTT BENNETT • TAMMIE BOWEN • PATRICK BRADLEY • DENNIS BRENNAN • DAVID BROWN • LINDA CALVERT • ARCEL CASTILLO • LINDA BURAK CHAPPELL • EILEEN CLARK • SARAH COBURN
CHUCK CROTTY • DENNIS EDWARDS • PETER FABRY • RAYMOND GOOD • BARBARA HARNEY • CYLINA HICKS • STEPHEN HORNE • JOCELYN HSU • BRAD JEFFERSON • CHUCK JOHNSON • MARIA KIERNAN • DANIEL KOBASA • STEPHEN LINDBLOM
DEBORAH MOORE • NORM MORALES • DAVID MOSCOVITZ • JOYCE MOSHER • PATRICK PHELPS • COURTNEY PUGH • TINA RAPP • SCOTT READY • MIKE REDMAN • PETER ROTHSCHILD • MANDANA SATTARI • CHARLIE SEIFERT • PHILIP SIMON
SEAN SINCLAIR • DIANA SISLER • MORGAN SMITH • ALAN STANTON • PAT VALVO • STEVEN WILEY • 1994 • KAKALI BANERJEE • ANDREA BILLEWICZ • BILL CARDEN • BILL COCKAYNE • KEVIN CONROY • SHERRY DAVIS • ALLEN DEITZ
DAN DUKANAUSKAS • KENNETH EKMAN • CAROL HALLAM • THOMAS HOLDER • MELISSA HOUGHTON • MICHAEL HUFF • BOBBI JACKSON • CELESTE KENNY • LAURA LUKE • JOHN LUONGO • AARON MARKEL • JEFF MARKOVITZ • MARWAN MINA
JOHN MOHN • LEN MORRIS • DONALD MYNATT • DAVID PAGE • THOMAS PARKE • BRYAN POLK • DARLENE REINHARD • JIM SCHNEIDER • CYNTHIA SCRUGGS • BRUCE SHARPE • FRANK SHARTLE • JON SIMON • KEVIN STEVENSON • DAVID TATUM
MARK TRAMONTOZZI • FRANK VARACALLI • DINESH VERMA • WENDELIN WINSLOW • BILL WRIGHT • TYLER WRIGHT • ST. CLAIR WYRE • 1995 • DENNIS ALFORD • PETER BEAVINS • WILLIAM BERNACKI • ED BITZER • THOMAS BODINE
KENNETH CAMPBELL • SUE CARAVELLI • YENSHI CHEN • TERRY CHHENG • SERGEI CHIBANOV • PETER CHO • GWENDOLYN CONVERSE • VAN DANG • MIKE DAY • NIKKI DINH • RENATO DIPENTIMA • SIMON FINLOW • RICHARD FISHER
MARVIN FLOOM • JOHN GALLAGHER • BARBARA GORLINSKY • JAMES GORLINSKY • CHRIS HALYSHYN • THOMAS HAMPTON • BARBARA HARRIS • BOB JOHNSON • MARGARET JONES • ALLISON KENNETT • CHRISTOPHER LAWRENCE
RICHARD LEDMAN • ERICA LEWIS • WILLIAM MATHIS • PATRICIA MERCADO • SANDRA MIDDLETON • JANET MILLION • JEAN MURPHY • DAT NGO • RENEE O’BRIEN • BRYAN RICHARDS • KENNETH ROHRER • TAMMY SMITH • EDWARD STAUDT
CHARLES STEVENSON • MIKE STOCKWELL • ELAINE SYKES • MICHELLE VITTITOW • KAREN VULETA • DONNA WALLS • LYNN WESTPHAELINGER • 1996 • AHMED ABDURREZAK • ERIC ANDERSON • ERIC BARTHOLOW • BOB BENJAMIN
KARL BOEHM • DIANNE BOLDEN • MAGGIE BOND • GARY BRIGGS • PHIL BROWN • FRANCESCA BRUNNER-KENNEDY • GEORGE BUEHNER • ELLIOTT BUTLER • BROOKE CALDWELL • LUCILLE CLARK • JO COTT • PATRICIA DAUGHTRY • AL DUNCAN
L. EVERETT • PAOLA FERGERSTROM • THEODORE FISCHER • STAN FORD • STEVEN FOX • PISEY FREDERICK • ARLENE GATCHALIAN • RHONDA GIBULA • SRIKUMAR GOPALAKRISHNA • JENNIFER GREENE • PETER HALVERSON • PAUL HANSEN
SUZANNE HARNED • CORKY HARRIS • RICHARD HOOPER • BRIAN HOOVER • CONNIE JOHNSON • ELORA JONES • ERIC JUNKER • SUMI KAUSHIK • JOHNNY KICKLIGHTER • GAIL KIDWELL • JOHN KOLMAN • ELLEN KONG • ERIK LARSON
DIANE LEDONNE • AMY S. LEE • LAN LEUNG • TERENCIA LIPFORD • SUDHA LLOYD • ROBERT LYNCH • MICHAEL MALONE • ROBERT MILLER • DOUGLAS MILLION • KOH MORRISEY • SONNY NGUYEN • VICTORIA NGUYEN • BILL NIEHAUS
JOSETTE O’NEIL • KACY ORA • DEVANG PATEL • ELENI PECJAK • KEVIN PHELPS • RICHARD PITTMAN • NICHELLE POE • LORI POGASH • CLAUDIA REDA • KATHIE REED • WAYNE ROE • BILL SCHERER, JR. • MATTHEW SHAKER • MICHAEL SMITH
STEPHEN G. SMITH • KENT SOMMERS • VENKATARAMAN SRINIVASAN • STEVE TEW • LAURA URBAN • DAVE VENNERGRUND • BELINDA VINES • PHUONG VU • DAVID WALLIS • PHILIP ZELLNER
1997 • MINTER ALEXANDER • KENNETH ALLGOOD • ESTHER ASAKI • DEIRDRE BAKER • MICHAEL BARRETTA • ROBERT BASINGER • ANN BERIN • JEFFREY BIELOT • EDWIN BOUTON
MICHAEL BOWLING • NORMA BOWLING • JANICE BURROWS • TONYA CARTMILL • JAMES CHRISTOPHER • NANCY CIRANNI • JUDY CLARY • JEANNE COGLIANESE • TRACY COLE
STEVEN DELLAPORTA • ROOPALEE DESHMUKH • DAVID DUBOSE • WILLIAM DUCE • FRANK DURSO • MELISA EPES • AN FANG • JEFFERY FARSCHON • DANIEL FLECK
PHYLLIS FOLEY • MITRA GALT • SANDRA GILL • DIANE GONZALEZ • DAVID GRAY • CHIENYUNG HAN • HELEN HARNED • WILLIAM HART • ROBERT HATTON • JOCELYN HODGES
SUE-FANG HSU • JUNE HUNT • BARON JACKSON • VANESSA JACKSON • THOMAS JOSTEN • DAVID KANE • PRIYA KOWDLEY • JAMES LATIMER • SUSAN LILLY
WILLIAM LOVELACE • TERESA MCCARGO • MELODY MCCLEARY • BRIAN MICHL • PAUL NAGEL • LINH NGUYEN • PHILLIP NONEZ • DAVE O’NEILL • MARY PADILLA
GIOVANNA PATTERSON • PHILIP PAU • NICHOLA PELOT • MICHAEL PETTIGREW • GERRY PIKUS • LESLEY PLITZ • MILA RAMOS-SANTACRUZ • JOHN REPHLO
KEVIN ROBBINS • JOE RYAN • THOMAS SIELAFF • MARSHALL SNYDER • ALAN THOMPSON • NANCY THORNES • RICK TOSSAVAINEN • JON VETTERLEIN
CHEN-YU VORABHANDA • DAVID WALLEN • LINDA WELCH • ANDY WHITE • LARRY WHITE • WALTER WHITE • CARL WILLIS-FORD • DEBBIE WINFIELD
CHI-LIN WOOLF • 1998 • SAID ABBOU • KYLE ADAMS • PAM ALLEN • OURY BAH • PATRICIA BAKER • STEVEN BASSETT • VICKI BECK • MARDI BESS
SHELLIE BINGHAM • EBRU BJARNASON • JEAN-PAUL BOUCHER • JENNIFER BREEDEN • TRISH BROUD • DAVE BROWN • MICHAEL BUCHNER
MARSHA BULLOCK • RICK BURGESS • KAJORNDEJ BURNS • JILL CABALLERO • ERIC CAHOON • CRISTINA CAMPBELL • JIM CAMPBELL • HONG CAO
REGINA CARTER • VINCENT COLBERT • JASON COLE • ROBERT COLEMAN • DOYLE COOK • JEFFREY CROOK • VU DANG • BARBARA DAVIS
SHIRLEY DAVIS • JAMES DAWSON • DAVID DIKEL • JENNY ELKINS • MARJORIE EYRE • DAVE FEURTADO • TONI FORTES • ALEXANDER GALANES
THERESA GERACI • ROBERT GICKING • KEVIN GILBERT • RONALD GINGRAS • MICHAEL GROSS • CHARLES GROW • MOLLY HAASE • SCOTT HALE
CHRISTOPHER HARNEY • CHARLES HARP • AARON HAWES • CINDY HEFLIN • MAUREEN HENRIKSEN • JOSEPH HERLICA • KAREN HERR
KYLE HOLMQUIST • JIM HUANG • DOUGLAS HURD • ROSE JANKE • JEFFREY JOHNSON • KATHLEEN JONES • MADELINE KEELEY • PETER KELLY
TODD KIHNLEY • JOHN KIM • ANTHONY KLAPP • SARALA KUMARI • STEPHEN LANGLAIS • AMY LEE • RONNIE LEE • CYNTHIA LOMAX
MAURICE LYNCH • MICHELE MARQUIS • AMY MARTIN • REGINA MAXIM • BILL MAY • SUSAN MCDONALD • MADELYN MCGRATH
LARRY MCMILLION • ALPHONSO MESSAM • JOHN MESSINA • JOSEPH MILLER • SUEANNE MORSE • SANDY MURPHY • BRITT NALLEY
NHA NICKERSON • SANDRA NICKERSON • JOHN OLIVER • LORETTA ORTMAN • JACLYN PAEK • HELEN PAINE • KAY PATTERSON
REBECCA PATTERSON • ELLERY PAYTON • MY-PHUONG PHAN • THUAN PHAN • BOB PICKETT • DANA PITTMAN • ROBERT PIXLEY                      Van Dang
DIANNE PRETANIK • ELIZABETH PRICE • GERALD PRICE • BRENDA PROCTOR • MARILYN RAY • ELAINE REEDER • CHRISTIANE RHODES
MARY RICHARDSON • GARY ROBINSON • JOHN ROUTH • JENNIFER RUSS • PAMELA SANDERS • JOHN SCHMITZ • GRANT SCOTT                               Project Manager, Department of
TERESA SHALAP • JASON SIGMON • RICHARD SIMMS • CHRISTINE SIMPSON • JULIANNA SIMPSON • KAREN SINGLETON • JAMES SMITH
GARY SOKOLA • NANCY SPAIN • TYLER SPEARING • JOY TANG • ANTHONY TAYLOR • MICHELE THAMASETT • ALAN THOMAS                                 Homeland Security, Immigration
DIANE THOMPSON • PAUL THOMPSON • DENISE TIMPKO • KARLA TRUJILLO • DIANNE TSUJI • PHILLIP TULL • ANTHONY VALLETTA
DAVID WALTERS • WILLIAM WASNER • JANE WEBER • ROBERT WELLS • AMARENDRA YAVATKAR • MICHAEL YOCOM • ANGELICA YOUNG
                                                                                                                                         and Customs Enforcement
JEFFREY YOUNG • MITCHELL ZOCCHI • 1999 • KATHY ADAMS • DAVID AHERN • LINDA ALKIRE • KAREN AMATO • CHERYL AMOS
CHARLES ANDERSON • AKYVA ASHTON • TIMOTHY ATKIN • PATRICK AUMENT • LESLIE BAINBRIDGE • RICHARD BAKER • CHUCK BANE
LENORA BARNES • SHAWN BELL • TODD BENSON • LARISA BLINDER • JAY BREEDEN • PHILIP BROU • KWASI BROWN
EDWARD BURTON • CHRISTINE CANEPA • HECTOR CARO • KRISTIN CASAD • SUSAN CASTILLO • THOMAS CHADWICK
SHEILA CHAMBERS • JAMES CHENVERT • RUTH CLARK • DOROTHY CLEAL • TIMOTHY COLLINS • MARY ELLEN CONDON
STEPHEN COTT • TONYA COX • MICHELLE CUTCHINS • MAHTAB DABIR • DAVID DAILY • EVERETT DALLEY • TUYEN DAM
PHONG DANG • JOHN DANKOWSKI • JOSEPH DO • MAX DUNN • LYNN FAHNESTOCK • JUDY FISHER • VELDA FLEMING
LILIANA FONSECA • FRANCINE FOREST • GORDON FRASER • ANDREW GEORGE • PAULA GIBBY • KAREN GILES • CHRISTIAN GONZALEZ
WILLIAM GORDON • HARI GOURU • ANDREW GRAHAM • SEAN GREEN • JOHN GREENE • SANDRA GROSS • ASHOK GUNTU
IHAB HADDADIN • ASELE HAILE • REBECCA HAMIL • RICK HARRIS • HAIRONG HE • JOANN HECK • ERIK HEINE • GEORGE HENDERSON
JULIE HOPKINS • JOUNG HUH • SHIRLEY JACKSON • LINDA JENIFER • PHILIP JOE • LINDA JOHNSON • CHARLES KENDRICK
BRANDON KENNEDY • DIPENDRA KHILLARKAR • VENKATA KOMMOJU • ELAINE KRAMER • PAUL KRAUSS • SUNIL KUMAR
RANDALL LAU • PAUL LAWRENCE • LOAN LE • RICKEY LEE • SHAWN LEE • BETH LEWIS • CHRIS LONGE • SHEILA LOVE
CAROLYN MACDONALD • ED MACDONALD • PRUDVI MANTHENA • NADIA MASOUDIAN • STEVEN MATNEY • LISA MCCRAY
SEAN MCDOWELL • ANGELA MCMILLIAN • DENNIS MEANEY • KATHLEEN MEYER • LOIS MISSIMER • LISA MONTANARO
ROB NEUMER • MICHAEL NGAN • LAM NGUYEN • DICK NORMAN • JOSEPH PAGLIUCA • DANA PARKER • LEROY PARKER
DONNA PETERSON • ROBERT PITTS • LEIGH-ANNE POLOWY • AMY QUAN • HAROLD REDDISH • SOMA REDDY • STEVEN ROERIG
LARRY ROMAINE • LINDA SAMUELS • KIMBERLY SEGERMARK • LORIE SHAULL • NIMISH SHETH • ALAN SHULTZ • MEREDITH SIGMON
MARY SLATE • MONICA SMITH • STEPHEN SMITH • JEFF SONG • PAULA SOTTIN • GEORGE SPLAIN • KEEFE SPRIGGS • MARK STAPLETON
BRAD STEFFEY • ANATOLI STETSIOURA • JAMES SULLIVAN • REBECCA TAIT • DONNA TAPER • PARRIS TOWNES • BAO TRANG
JAMES TRAYERS • FRANK VEGA • ANNETTE VERNA • LYNN WALTHALL • GLEN WHITE • JOE YANICHECK • IL YOO • DICK ZORN
2000 • JILL ADAMS • GINA ADIACONITEI • RANDY ADKINS • MICHELLE AITKEN • RENATE ALEXANDER • THOMAS ALSTON
ROBERT ARNOLD • ANDREW BECK • WILLIAM BELL • EUNESA BENOMAN • JOHN BORDEAUX • FRANCES BOYD • VALERIE BOYKIN-PAIR
STEVEN BRADY • DIANE BRISCOE • MATTHEW BROOKS • SANDRA BROWN • AL BRYARS • MICHAEL CARPENTER • VENKAT CHALASANI
DAN CHANDLER • SANDRA CHAPMAN • DAVID CLARK • BRIAN COATES • ANTHONY COLYANDRO • LEE DEFIBAUGH • HORACE DESORMEAUX
HARITHA DEVULAPALLY • CHRISTOPHER DOUGLAS • ERIN EAST • ALIREZA EHTESHAMZADEH • DANIEL ELWELL • SUJIRA ENGKAVANISH
LAMONDA FRALEY • DAVID GALLAURESI • CARL GARDNER • SYLWIA GASIOREK–NELSON • ANNA GATLING • SOLOMON GEBREAB
MARK GINEVAN • GREGORY GOODSON • CYNTHIA GRANDISON • EILEEN GREENE • DEBBIE HAGSTROM • WALT HARE • TOM HASMAN
PETER HEWITT • JEANNE HUDSON • TAM HUYNH • FARIS IDRIS • ZORANA ILIC • SANJEEV INJETY • MARYLOU JEFFORDS • LUCIA JENKINS
RICHARD JEWELL • RUDOLPH JORDAN • MAHESH KAKA • SHANTA KARUNARATNE • DAVID KELLY • HENRY KO • JOANNE KONDEK
STUART KRAMER • DEEANN KUO • LOUIS LARSON • PHILIP LESLIE • ALFREDO LOPEZ • EDWARD MACDONALD • THOMAS MARTIN
NIKKI MCCANN • BEVERLY MCCLINTON • CARA MCFADDEN • ANN MCGILL • MARK MCMAKIN • DOUGLAS MINNIG • GEORGE MORGAN
IRINA MOROZ • STEVEN NEWBURG-RINN • MARCELLE NEWSOME • THANH NGUYEN • TIMOTHY NOONAN • BOSEDE OLAGBAJU
OLANIKE OYEFESO • RHONDA PEKELO • JAMES POLSKI • ROB PURKAT • TIM RATLIFF • SUSAN RECAME • SCOTT REHRIG • NATHAN REIMOLD
KENNETH REYNOLDS • JASON ROBBINS • DAVE ROBERTS • NORMA ROBINSON • TIFFANY RODNEY • MARK ROLINCIK • CORI SEILER
ASHVINDER SETHI • SHANE SHEPHERD • GENE SHORTS • FRANK SIEVERS • LORA BETH SMAYDA • MARK D. SMITH • MARK S. SMITH
BRADLEY SORENSEN • RONALD SPITZ • ANITA STANTON • GRAHAM STEVENS • JENIFER TAGGART • PAUL TORICK • KYUNG TORRENCE
TAO TRAN • HUNG TRINH • DANIEL VANBELLEGHEM • JORGE VASQUEZ • KOURTNEY WALKER • GARY WATTS • TERRANCE WHITEHEAD
JON WHITMORE • WADE WILBUR • TINA WOOLNER • DMITRY ZELENKO • 2001 • REMZY ABDULMOEN • JOSEPH ADAMS • MILLER ADAMS
MICHAEL K. BAKER • MARY BALDWIN • CHARLES BARNETT • LEA BAVARO • JERRY BENNETT • WILLIE BENTON • VILAWAN BIERMAN • LEE BINETTE
JOHN BLAIR • MICHAEL BRITTON • TEENA BROACH • SCOTT BUFFARDI • MICHAEL CAMPBELL • MARGARET CARTER • ROSENDO CASANOVA
DARNELL CEPHAS • PETER CHOE • ARTHUR COLEMAN • MICHAEL COSEO • MICHAEL CRAWFORD • RICKY DANIELS • STEVE DANIELS • KEITH DAVIS
MICHAEL DEVOS • DALE DIMICK • CHARLES DYE • HAROLD ERICKSON • JÖRGEN FÄGERQUIST • JAMES FIREOVED • CAROLINE FLOOD
JENNIFER FRANCIS • STEPHEN FRATI • LAURA GEIGER • DENNIS GEORGE • RIJU GEORGE • SAUL GOAR • DOMINIC GOMES • SHIRLEY GUSTAFSON
JAMES HACKMAN • GARY HAMMOND • PATRICK HANLEY • DAVE HARNEY • DAVID HARRISON • ROBERT HECKMAN • ROGER HENRY • ERNEST HINES
JESSIE HODGE • ROSEMARY HOLLY • RICHARD HOWE • SCOTT HUGHSTON • THEODORE JACKSON • ABHIJIT JADEJA • LEENA JAYAMOHAN
CHRIS JOHNSON • IRIS JOHNSON • LINDA JONES • DAVID KELLEY • DAN KIMBALL • JOHN KING • MICHAEL KITTRELL • FABIAN LA MAESTRA • CON LAI
WILLIAM LEA • NEAL LENZIE • NADINE LIEPMAN • RONALD LIMCAOCO • JANET MARTIN • MAUREEN MARTINEZ • BENNIE MCCARTY • DAVID MCMULLEN
HAMILTON MILLER • MICHAEL MILLER • MARTIN MINTZELL • TERRENCE MISICH • ROBERTO MOJICA • CHARLES MONTAGUE • JASON MOORE • TORRI MUMM
KARTIK NAIR • HANH NGUYEN • MAI NGUYEN • WEN NIE • EDD OLDS • JAY OLSEN • WALES PATTERSON • SHARON PLATER • KIM PLEASANT • ANTHONY POU
MARY PROFFITT • WAJID RAJA • MARK REDMAN • JOE REEVES • LOUIS RICHARDSON • TERRI ROSE • ARTHUR ROUBIK • DONNA RUGGLES • PAUL RYCZAK
BENYAM SAMUEL • STEVEN SANTONI • TOBY SCHAEFFER • TERI SCOTT • STEVEN SEMRAU • DAVID SHARP • ROBERT SHELBY • AILLEEN SHERIDAN
MARK SHERIDAN • LISA SHIELDS • DAVID SHURTLIFF • STEPHEN SLYFIELD • BRIAN SMITH • CHARLES SMITH • ROBIN SMITH • SUSAN SONG • CHRISTINE SORENSON
DEBRA SPINNER • PAUL STIVERS • MARGOT SUNSHINE • MAURINE TAPSCOTT • STEVEN TASWELL • JASON TIBBETTS • CLAIRE TILTON • LONG TRUONG
OGBONNAYA UDUKA • KERRY VANCE • ALLA VELIKOVICH • ZHOU WANG • WARNER WHITEHEAD • ANTHONY WILBURN • JEANNE WILGUS • CHARLEEANNE WUNDERLIN
RAEANNE YAMAMOTO • SOLEIL YOU • LISA ZAPATA • 2002 • FADL ABIDEEN • JASON ADOLF • DATRICE AFRIYE-OPOKU • MICHAEL ALFORD • CATHERINE ALLEN
27 | SRA International, Inc.



SRA EmployEES (ContinuEd)

SCOTT ANDERSON • ELLEN APOSTOLICO • MARY APOSTOLICO • MATTHEW ARNTT • JOHN ARVANITIS • NANA ASAH-KWASHIE • STEVE AVERBACH • STEPHEN BABB • DARBY BADE • CHRIS BAILEY • CHERIE BARNES • CHUCK BARRY
DON BASNIGHT • ANNETTE BEACHAM • DAVID BEIER • BILL BELL • CLAIRE BERGER • JAMES BERRY • MATTHEW BIANCHETTI • DOUGLAS BLACK • NORRITTA BLANCHARD • TED BLOSS • SHERRY BOOTH • ROBERT BOWES • BRENDAN BOWLER
CLARECA BRANDON • DOUG BRASHEAR • MICHAEL BRAUS • LEON BRITTAIN • NORMAN BROWNE • MARK BUCEVICIUS • PAUL BUCHANAN • STACEY BURGER • KATRINA CAIN • TRISTA CALDWELL • DIANE CALLESON • TINA CARR • MEG CARTER
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GWEN DODDY-LOWIT • JOHN DOGAN • CHIRIYAN DOMINICK • KIM DONER • TONY DONLEY • KARENYA DRAKE • JENNIFER DUFF • JEREMY DUFF • RUSS DULANEY • TIFFANY EADS • DONALD EDWARDS • TANYA EDWARDS • THOMAS EDWARDS
CHRISTOPHER ELDER • KEVAN EMMOTT • GLENN EPLER • JOSEPH FELDER • NELSON FERRY • TODD FIERST • MAUREEN FINDORFF • ALLYN FINEGOLD • MEL FJERSTAD • DALE FLANNAGAN • CYNDI FLORES • MARY FOLEY • JEFF FORBES
REBECCA FOX • JERNAY FREEMAN • GREG FREY • JESSICA FUHRMAN • BRUCE GAGNE • STEPHEN GARON • KATIE GARVEY • JANICE GEESAMAN • HEATHER GEWANDTER • DAVID GIBSON • GREG GOLDBACH • LEAH GOMEZ • LANCE GORDON
NORM GORDON • ZACHARY GRABER • DAVID GRAHAM • DAVID GRANT • GAIL GRAVES • KENYATTA GREEN • SARA GREEN • MARK GROVE • CHUNG HA • GREGORY HALL • ROMANY HALL SIEFERMAN • ERIKA HANSEN • JAMES HARGRAVE
JASON HART • ELAINE HAUSE • NANCY HEANEY • CHRIS HERMAN • CESAR HERNANDEZ • SCOTT HILL • PHILIPIA HILLMAN • MARY HILLSTROM • ROBIN HISCOCK • THU-HAI HOANG • SCOTT HODGE • KRISTIN HOGAN • MICHELLE HOHAUSER
HEATHER HOLDEN • BOB HOLDORF • KAREN HOLLOWAY • CHARLES HOLT • ALICIA HOSMER • RICH HOUSE • TODD HUSE • TODD HUTCHISON • BILL JACKSON • HOWARD JACKSON • MARCY JACOBS • MICHAEL JACOBS • KALA JAIN
JIMMY JENKINS • JEREMY JENSEN • MANUEL JIMENEZ • DEON JOHNSON • GWENDOLYN JOHNSON • SANDRA JOHNSON • CYNTHIA JONES • DEBORAH JONES • ALEXANDER JUNG • TSHIBANGU KABAMBA • SANDIP KALBURGI • SHANNON KEARNEY
MEG KEENAN • COOPERINE KEENE • JAMES KEITH • MEREDITH KELLER • LORETTA KELLEY • BILL KELLUM • KELLEY KENYAN • STEVE KERR • ALEXIS KING • MATT KIRCHOFFNER • PAUL KLOEPFER • DEBORAH KOCHUBKA • ERICA KOENIG
GENA KOMRADA • CHRIS LA ROSA • CATHY LALUSH • JOHN LANE • LEROY LANE • RALPH LANE • KENYON LARSEN • KEVIN LAWRENCE • JAMIE LAWSON • ANDREW LEE • ROVELLA LEFTWICH • CHRIS LITTLE • JOHN LUDECKE • JUDE LUELLEN
ANA LYON • MARK LYON • TAN MAI • LINDA MANNING • FRANK MARSHALL • PETER MASON • CURTIS MASSEY • RONALD MATA • DAVID MATTA • WALT MATTHEY • LAURENCE MAZELLA • MARY MAZERIK • RYAN MCDONALD • JAMES MCNABB
JAY MCNEMAR • MELISSA MCPHAIL • MICHAEL MEIS • ADAM MEYERS • BILL MICHAUD • ED MILCH • JENNY MILLER • STEVE MILLER • ROB MILLS • FRANCES MONROE • ROBERT MORECOCK • COLLEEN MORGAN • STEVE MURRAY • MARIBEL
NABONG-DAVIS • SHALINI NAIR • SHERI NEELY • CHRISTINE NELSON • CAN NGUYEN • MICHAEL NIBECK • CHRISTOS NICHOLAS • TIMOTHY NICHOLSON • LATOSHA NICKENS • LORRIE NOKES • PAUL OEHLING • TOM OLIVER • THOMAS OWENS
CHRISTINE PACKARD • STEPHANIE PARDO • MATTHEW PARKER • KATHERINE PARKINSON • RALPH PARKINSON • ANNA PARROTT • SHYAMALA PERI • STEPHEN PETERSON • BRENT PETTYJOHN • CHRISTOPHER PETTYJOHN • KELLIE PETTYJOHN
GREG PHAM • FLORENCE PHILLIPS-GREEN • HAROLD PICKETT • MIGUEL PINILLA • MATT PLACKY • REBECCA PLOCKI • JEFF POLLACK • KAREN POPULAR-LAWHORN • ROBERT POWELL • SUZANNE PRATS • DEWYAIN PRICE • RICHARD PRIES
TERRY PRUITT • CAROL QUIN • LEILANI QUINN • JENNA RANIOWSKI • ROBERT RHYNE • PHILIP RIZZI • CYNTHIA ROBINSON • SARA ROGERS • MELISSA ROMERO • NICKI SCHARMACH • JENNY SCHMIDT • WILL SCHMIDT • INEZ SEGEARS
JOHN SEMINERIO • ROBERT SFEIR • PATTI SHAFER • ANUP SHAH • DAVID SHELLARD • CINDY SHEPHARD • CAROLINE SIELSCHOTT • TIMOTHY SKINNER • CHRISTOPHER SMITH • TOPPER SMITH • LAURA SNEERINGER • KYAW SOE
VIVIAN SPATHOPOULOS • RENEE SPEIGHT • WENDY SPILLANE • WANDA STREET • DEARCHIE SYLVER • PAT TALLARICO • SHEKHAR TAMASKER • HONGLIN TANG • DENISE TARANOV • THERESA THOMAS • NAN THORN-CLEMENTS • LEWIS THORP
PAULA THRASHER • JOSE TORRES • MICHELLE TRACEY • LEE-ANN TRACY • ERIC TRAGER • PETER TRICK • ADAM UNGAR • DOMINICK URSO • NANCY VAN BALEN • TRINA WALTERS • TIMOTHY WATKINS • PAUL WATTERS • MARK WEBB
RICHARD WEIL • BRYNDYN WEINER • BETH WHITE • JAMIE WHITTAKER • PAUL WILKINSON • ANITA WILLIAMS • BETHANY WILLIAMS • BYRON WILSON • DOUGLAS WILSON • SHERRY WITT • ALISON WOLFE • AMANDA WOOMER • MARK WRIGHT
TIMOTHY YEHLE • MICHAEL ZELENSKY • 2003 • JAMIL ABDEL-JALIL • EDNA ADKINS • IMAN ALAMEH • MO ALAZZAWE • RICK ALBERTSON • CORNELL ALEXANDER • DENISE ANDERSON • JOHN ANDREWS • EDWARD ARING • ELIZABETH ATEN
JOHN ATKINS • RUSSELL BAILEY • WALTER BAILEY • LARRY BAKER • MICHAEL BAKER • KARTHIK BALASUBRAMANIAN • JOSEPH BARBANO • LYNNE BARNER • AUDY BARNETT • FIONA BARSHOW • GARY BATIE • LUKE BEATTY • JEFFREY BELL
ROBERT BENISH • JEFFREY BENNETT • THOMAS BERESFORD • GEAMERE BERRY • SHAWN BILAK • SALLY BIRD • ANGELA BIRDSONG • TOWANDA BIZZELL • DAVID BOEDDEKER • BOBBIE BOLLINGER • RICHARD BOULTON • KERRY BOWDEN
ROBERT BOWDEN • LAURA BOWEN • JEREMIAH BOWERS • ERIC BOYACK • MICHAEL BOYLE • ROBERT BRIDGES • BRETT BRIGGS • IAN BROWN • JULIUS BROWN • KENNETH BROWN • ROBERT BROWN • NICHOLAS BRUBAKER • DANIEL BRUNO
AARON BRYANT • JENNIFER BUCHANAN • LESLIE BURCHETT • TED BURGWALD • BRANDON BURKE • CHRIS BURNS • BONETTA BUSH • RICKY BUTLER • IAN BYRNES • DENNIS CAHILL • LEWIS CALL • JOSEPH CALLAHAN • STEPHANIE CAMMARATA
CARLTON CAREY • STEVEN CARNEY • EDDIE CARRASQUILLO • RAYMOND CARSWELL • LAWRENCE CARTER • MELISSA CARTER • VINCENT CARTER • DARYN CASSANO • SHERRY CEKALA • MITCHELL CHAMPNEY • KAWA CHAN • EDWARD CHANG
CAROLINE CHESHIRE • MEALY CHHIM • SARADA CHINTALA • MICHELLE CHRISTMAS • EMILY CLAUS • BRUCE CLEGG • CHRIS COLLETT • BRIAN COLLINS • SHERITA CONNER • CHRIS COOKS • YVONNE COSTELLO • JAMES COX • ERIN COYNER
KATHRYN CRAWLEY • JEFFREY CRESS • KIMBERLY CROCKETT • JOHANNA CULBERTSON • TRACEY CULBERTSON • BILL CUMMINGS • JON CUMMINGS • KIMBERLY CURTIS • ANDREW CURTISS • MINH DAO • QUY DAO • RICHARD DARLING
GREGORY DAUGHTRY • ROBERT DAVIES • BRYAN DAVIS • BRYANT DAVIS • DARYL E. DAVIS • KRISTIN DAVIS • MATTHEW DAVIS • TIMOTHY DAVIS • MARY-ELISABETH DELP • XUEFENG DENG • RICHARD DIETZ • THERESA DINH • STEPHEN DOHANICH
MONICA DORADO • THERESA DORTON • STEVEN DOWNS • DENNIS DUCOTE • MARIAN DUNCAN • CHRISTOPHER DURBIN • DAVID DUSANG • DIONNE EATMON • JEFFREY EDELHEIT • DANIEL EHRLICH • KENNETH ELMORE • JON EREKSON
JON ERNEST • VILMA ETTISON • JANICE EVANS • ROBERT FALSONE • MITCHELL FAUST • TALEA FAXON • SOBIA FAYYAZ • FREDERICK FELAN • CHRISTINE FELDT • LYNN FELTS • JOHN FERGUSON • RICHARD FINCH • ROBERT FINLEY • KARRI FINN
ELISABETH FITZHUGH • ANTONIO FLORES • EDWIN FLOYD • STACEY FLOYD-BAUER • HEATHER FOLEY • ALBERTO FORERO • RICK FORTIN • JAMES FOUNTAIN • ROBERT FOX • JOHN FRARY • ADAM FRAZIN • GINA FRIEDLANDER
                                                  THOMAS FURLOUGH • VELIA GARCIA • ANDREA GARNER • DANIEL GAUVREAU • GONZALO GAVILAN • AARON GEE-CLOUGH • TOM GEHRKI • CAROL GENDREAU • ROBERT GENDREAU
                                                      MICHAEL GETHING • RASHELLE GEYER • EDWARD GHAFARI • JACY GIMENEZ • JEAN GIRAULT • AMI GLASBERG • RON GLOVER • EDWARD GLYNN • DICK GOEBEL • THERESA GOLINVAUX
                                                          ORION GONZALEZ • JAMES GOODWIN • JOHN GORDON • DAVID GOSSER • JOSEPH GOYETTE • BILL GRABOWSKI • STACY GRAHAM • DONALD GRAVES • RYAN GRAVES
                                                             SCHIRRA GRAY • MICHELLE GREENBAUM • BRAD GREENFIELD • JAMES GREENLEY • MAX GREINER • DAVID GROSS • DAVID GUDORF • KIMBERLY GUEVARA • MARLON GUISHARD
                                                                ARTHUR GUNN • BARBARA GURR • JOHNNY GURR • IRENE HAAGSMA • AYMAN HAMMAD • DEBRA HANIG • CANDICE HARDIN • WILLIAM HARDY • DWIGHT HARRIS
                                                                   BILL HEDGE • JAMES HEILEMAN • LEANNE HELFRICH • MICHAEL HENDLER • MARIA HERNANDEZ • PETER HERZOG • ANGELA HESS • DOUGLAS HILDEBRAND
                                                                      RICHARD HILDEBRAND • DANIEL HILL • TROY HITHE • PATRICIA HOBBY • ANNA HOGAN • DAVE HOLMES • TOM HOULROYD • THOMAS HOUSMAN • GLORIA HOWELL
                                                                         MARY HUFF • DOROTHY HUGHES • I-MIN HUNG • RENEE HUNTER • RON HUNTER • CATHERINE HURKAMP • ABU HUSSIEN • MICHAEL HUTT • JACK HYMAN
                                                                           PAUL IGLESIA • JAMES JACKSON • JOHN JACOBSEN • ALI JALALI • GILDA JAMES • ROBERT JAMES • GEORGE JOHNSON • SALEEMAH JOHNSON
                                                                             SYLVIA JOHNSON • ROBERT JOHNSTON • RUBIN JONES • WILLIAM JORDAN • PAMELA KADLUBEK • KENNETH KAMPPILA • COLLEEN KATZ • CHERYL KAUFMAN
                                                                               PAUL KEATING • REGINA KEEGAN • CINDY KEEN • DAVID KEFFER • AARON KEFFLER • HERBERT KEMP • KAY KENDALL • KEVIN KENNEDY • DAVID KERR
                                                                                 AMIT KHOSLA • KATHLEEN KIDWELL • YOO KIM • MICHAEL KLAASSEN • KARA KNUTSON • KENNETH KOEHN • HANK KRAUER • LAURA KRETZING
                                                                                    GREG KUM • JENNIFER KURRUS • RENA LACEY • MARK LANDRY • SHERRILL LANEY • BOTHY LAO • STEPHEN LARMAN • ANDREW LAVAR • DENNIS LEE
                                                                                     PAUL LEE • RANDY LEFORT • LINDA LEPAK • JOHN LEVY • GREGORY LEWIS • JOSEPH LIMMER • JOHN LINDSAY • JAMES LITSCH • ROBERT LITTLE
                                                                                       MARK LOCHER • CATHERINE LODATO • ROSEMARY LOMIS • ROB LONG • KEITH LOWRY • CURTIS LUPTON • SANDI LUTZ • ELEANOR LYE
                                                                                         KRISHNA MADDI • CYNTHIA MADISON • DAVID MAGARUH • LINDA MAGES • CARL MAINEN • DUANE MAKI • THOMAS MALICK • HUGH MANEY
                                                                                           JANET MANRING • JOSEPH MARSHALL • LINDA MARSHALL • TIMOTHY MARSHALL • DANIEL MARTIN • CAROLINE MARTINEZ • JUAN MASIAS
                                                                                            JOE MAST • JENNIFER MATIYASIC • MARTIN MATSKO • CHRISTOPHER MATTHEWS • KRISTEN MATTINGLY • STEPHEN MAXFIELD
                                                                                             JOHN MAYES • MARK MAYHUGH • GODFREY MAYNOR • RICHARD MAZER • TIMOTHY MCCABE • GREGORY MCCRAY • ANGELA MCDOWELL
                                                                                               MICHAEL MCGANNON • REBECCA MCHALE • KELBY MCPHERSON • JAMES MELZER • ARTHUR MENNA • CHARLES MENZA • GREGORY MIAH
                                                                                                DARRYL MIDDLETON • DAVID MIDDLETON • KATHLEEN MILLERD • MARIE MILLIGAN • DAN MILLS • MARY MILLS • MELISSA MITCHELL
                                                                                                 MAXINE MOHNHAUPT • RIC MORENO • BETTY MORGAN • JAMES MORRIS • TELLY MOSLEY • ALI MOSTASHFI • RICHARD MOTT
                                                                                                  RUSSELL MULL • THOMAS MULLAN • IAN MURCH • LAURA MUSGROVE • JOHANNA MYERS • SHRUTHI NAWAB • ALEKSEY NEMIROVSKY
                                                                                                   PRASAD NERIKAR • AARON NEWMAN • MINH NGUYEN • LINDA NICHOLS • MATTHEW NORRIS • ANTEJ NUHANOVIC • PATRICK O’BRIEN
                                                                                                    SARA O’CONNELL • MICHAEL O’CONNOR • DEBBIE O’DAY • ERNEST OEHM • SANDRA OEHM • WILLIAM J. OLIVER • MARK OSBORNE
                                   Allison Kennett                                                   SERGEI OSTROVSKI • DONNA OWENS • ANDREA PACLEY • JIM PATERSON • MICHAEL PECKMAN • CRISTHIAN PEREDO • GIGI PEREIRA
                                                                                                      AUDREY PERLOW • JASON PETERS • RUSSELL PETTIFORD • DENNIS PHELAN • CASEY PHILLIPS • JOSEPH PIERSON
                                                                                                       GREGORY PLUMMER • MICHAEL POCALYKO • JOYCE POOL • FRANK PRATT • MICHAEL E. PRICE • MICKEY PROSSER
                                   Project Manager, Defense                                            DANIEL PUCHALSKI • ZOILA RANGEL • LARS RATHJEN • RAKESH RAWAT • JAMIE READY • JAESON REBEYRO • JOSEPH RECORD
                                   Technical Information Center                                         JONATHAN REDA • RAJVARDHAN REDDY • CAMISHA REED • DWIGHT REED • WALT REICHENBACH • DONNA REMINES
                                                                                                         JEFFREY REYES • JASON RHODES • JEFFREY RIBEL • SHANNON RIBEL • ANDREA E. RITTER • IVAN ROBELLY • STEFANIE ROBERTS
                                                                                                         MARC ROESE • GREGORY ROMAN • ROOSEVELT ROY • ROBERT RUSSELL • PATRICK RYAN • OLIVER SADORRA • STEVEN SALVAGGIO
                                                                                                          CYNTHIA SANCHEZ • ENGLAND SANSBURY • PATRICK SARGENT • THOMAS SAUL • RODNEY SAUNDERS • ERIN SAWYER
                                                                                                          STEVEN SCHAFER • JAY SCHNEIDER • CHRIS SCHOLBE • ROLAND SCOTT • TIMOTHY SEDLMEYER • PEGGY SEEFELD
                                                                                                           WALTER SEEFELD • GEORGE SEFF • GEORGE SHALHOUB • RICHARD SHARITS • JOHN SHARP • JULIAN SHARPE • STEVE SHERBURNE
                                                                                                           MATTHEW SHUSTER • RON SIMMONS • ROY SIPLE • WENDY SKAVLEM • KIMBERLY SKELDING • DANIELLE SKOTNICKI
                                                                                                           MICHAEL SLOSS • ANDREW SMITH • BRIAN O. SMITH • CHUCK SMITH • DAVE SMITH • ERIC SMITH • GREG SMITH • ROBERT SMITH
                                                                                                           SUSIE SMITH • THOMAS SMITH • DAVID SNYDER • GREGORY SODERSTROM • STEVE SOKOLY • CHRISTOPHER SOLIDAY
                                                                                                           BENJAMIN SOLOMON-SCHWARTZ • OLUWAKEMI SOMUYIWA • KAREN SOTO • MARIA SOTTO • WILLIAM SOUSER
                                                                                                            ALLEN SPENCER • ERIK SPERANZA • INDUMATHI SRIDHARAN • JIM STAHL • JOEL STAMMEN • JOAN STANLEY
                                                                                                            ROBBY STARKIE • DAVID STEFANAC • TONY STONE • CHRISTY STONER • MARK STRAUSER • KAREN STRAWBRIDGE
                                                                                                           DAVID STROMBECK • JON STUCK • PAMELA SULLIVAN • JUSTINE SUTTON • RACHEL TARDIFF • MATTHEW TAYLOR
                                                                                                           CHRISTOPHER TECH • DARRELL THACKER • GINA THANSOM • JENNIFER THIEKE • KEVIN THOMAS • DONNA THOMPSON
                                                                                                           DONALD TINDALL • LUCY TODD • STEPHEN TOLBERT • TRAN TRAN • GERALD TRIPP • AMY TURNER • REBECCA TURNER
                                                                                                           SHONA TURNER • RICHARD UNTERREINER • JANICE UWUJAREN-PACKARD • TARA VAN ATTA • PETER VAN SCHAGEN
                                                                                                           LARRY VANDYKE • CYNTHIA VASQUEZ • ROBERT VEREEN • DENNIS VILLAGOMEZ • DENISE VIOLETTE • ROD VOLZ
                                                                                                          AVA ANN VROOMAN • HARDIK VYAS • DREXEL WAGGONER • WENDY WANG • PAMELA WARNER • RANDY WARREN
                                                                                                          WILLIAM WASHINGTON • JUSTIN WATSON • INGRID WEECKS • MICHAEL WEINSTEIN • JEANNE WENDEL • DAVID WEST
                                                                                                         NATHANIEL WHITE • JIM WILCOX • MICHAEL WILES • ROD WILKINSON • ALLEN WILSON • BRADLEY WILSON • CINDY WILSON
                                                                                                         STEPHEN WINTER • JERRY WOMACK • WENDELL WONDERLY • RICHARD WORK • AARON WORKS • JINGSHENG YAN
                                                                                                        MIKE YANNELLO • RONALD YEARGIN • LATERA ZAMBA • DANIEL ZAPATA • PAUL ZAREN • JIAN ZHANG • 2004 • EMILY ABELL
                                                                                                        BILL ACKERMAN • HAROLD ADAMS • MATTHEW ADAMS • ENITAN ADEBAYO • CAROL ADEYEMI • JOEL AHLQUIST • MARYAM AKRAM
                                                                                                       CHANDRA ALLEN • LORI ALTHER • TITO ALVAREZ • MARK ANDERSON • RON ANNAS • FRED ARON • ANGELA ASHE
                                                                                                       HASHEM ATALLAH • SUZANNE AUBLE • ANTHONY BACHAND • CHRIS BACHER • ANDY BACON • FARIDA BADALOVA
                                                                                                      MIRANDA BAHRAMI • XIAOJING BAI • MATTHEW BAILEY • TAMARA BAKER • DERRICK BALL • KARYL BANGE • JOHN BARCLAY
                                                                                                     DMITRIY BARENGOLTS • JESSICA BARNES • ANTONINO BARRANCO • CLAIRE BARRETT • JUSTIN BARTA • RITA BARTHOLOMEW
                                                                                                     ANGELA BARTON • VIKAS BARUAH • RAYMOND BASKERVILLE • DEEPIKA BATRA • PHILIP BAYER • ROBERT BECKER
                                                                                                    MICHAEL BECKWITH • PATRICK BELCHER • GOODMAN BELLAMY • SHARON BEMMERZOUK • PHILLIP BENEDICT • MARIA BERTACCHI
                                                                                                   ROSEMARY BIDUN • TRACY BIGESBY • DANIEL BLALOCK • SHARON BLOOMBERG • DAVID BOCSKOR • BERNICE BODEN
                                                                                                   DIANE BOETTCHER • CECILLE BOLES • KURT BOLLAND • BARBARA BONASSO • GEORGE BONNER • DANIEL BONSU • DIANA BOOKBINDER
                                                                                                  BOBBY BOOKER • ALEXIS BOR • JEANNE BOSTICK • JANET BOURROUGHS • REGINALD BOWENS • CHARLA BOWERS • KELLI BOWMAN
                                                                                                 ROBERT BOWMAN • CRAIG BOWSER • JEFFREY BRAMSEN • BRENDA BRANDON-BLAIR • MATTHEW BRAUN • ROBERT BRENNAN
                                                                                                KEVIN BRETT • TODD BREUNIG • EUGENE BRINDLE • ANTHONY BRITTON • JEREMY BROTHERS • ALYCE BROWN • ANITA BROWN
                                                                                               KENNETH A. BROWN • SEAN BRUCK • SHAWN BRUMBACK • MICHAEL BRUNETTO • JAMES BRYDON • DANIEL BUCKELEW • DANIEL BULLOCK
                                                                                               KIMBERLY BULLOCK • KYLE BUNTING • CHRISTA BURCH • RICHARD BURCH • CHRISTOPHER BURGER • JERRY BURNS • JAMES BURTON
                                                                                              ANGELA BUTLER • JESSICA BYNUM • STEVEN BYRD • SAMANTHA CALDWELL • CHRISTOPHER CALHOUN • LOUISA CALLOWAY • JOHN CAMM
                                                                                             JOHN CAPPELLARI • JAIME CARDENAS • BRIAN CARLSON • MICHAEL CARON • WILLIAM CARR • ANDREW CARROLL • KEITH CARROLL
                                                                                            CARL CARSON • CARRIE CARTER • CHRISTOPHER CARTER • VICTOR CASTILLO • PARKER CASTLE • JAMES CAYER • DICK CECKA
                                                                                            KENNETH CHADWICK • JASON CHAN • RANJANA CHANDRA • GILES CHARLESTON • WEI CHEN • WILLIAM CHEN • DANIEL CHENOK
                                                                                           CHRISTIAN CHILDERS • IKWON CHO • LISA CITRO • ARTHUR CLABON • WILLIAM CLAFLIN • NICOLE CLARKE • DONNA COHEN • THOMAS COLEMAN
                                                                                          GEORGE COLLATOS • SEAN CONNALLY • NORRIS CONNELLY • THOMAS CONNELLY • ROGER CONSTANTIN • TY CONWAY • MICHELLE COOK
                                                                                         BENJAMIN COOPER • DANIEL CORBETT • KELLY COX • ASHLEY CRAIGHILL • JASON CRAWLEY • GEOFFREY CREIGHTON • CALVIN CROSSMAN
                                                                                        CHAD CROWE • ROBERT CULLEN • SCOTT CUNNEEN • DANIEL CUSIMANO • MICHAEL D’ANDREA • JINSONG DAI • BROOKY DARGAN • SARAH DAVIS
                                                                                       TRACENE DAVIS • USHA DAVULURI • DAVID DAWSON • MICHELE DAWSON • REBECCAH DEBLOIS • BESSIE DECLOUETTE • GONTRAN DEDJINOU
                                                                                      AYESHA DELORENZO • LINDA DEMPSEY • JANET DENT • JOSEPH DESANTIS • JULIE DETTER • LAUNDREW DIAMOND • ERIC DIEHL • NORMAND DILLON
                                                                                     AMANDA DIMAGGIO • JIM DINWIDDIE • JOSEPH DIONNE • DEBORAH DIXON • EDWARD DODSON • JOHN DOMIGAN • ALPHONSE DOMINIQUE
                                                                                    RACHEL DRUCKER • LAURA DRYDEN • ADAM DUNCAN • CALE DUNN • JOHN DUNNE • ALAN EARLY • EYRIA EATMON • ALLAN EDMONDS
                                                                                   CHARLES EDWARDS • POUYA EFTEKHARI • MARC ELLINGTON • ELISE EMMONS • LUVY EMRALINO • JORDAN ENGEL • RICHARD ENNIS • SHARON EVERETT
                                                                                                                                                                        2007 Annual Report | 28


WILL FAIR • DENNIS FAVER • ROBERT FAY • CLIFF FERNANDES • ERNEST FIELDS • ERIC FILLOON • BENOIT FLIPPEN • NIKKI FLOYD • PATRICIA FLYNN • MEGAN FORD • JAMES FORNANGO • LARRY FORRESTER • STEVEN FOWLER • ROBERT FRANK
MARGARET FRAZIER • KENDA FREDERICK • MICHAEL FREEMAN • LAWRENCE FREIE • TED FUJIMOTO • MICHAEL FULLER • DEBRA FULMER • HEATHER FULMINES • JOEL FUNK • DAVID FURMAN • JOYCE FUTRAL • NAGESH GADAMSETTY
VICKIE GARNER • THOMAS GATES • MARI GAVIN • ADRIENNE GEFFERT • JULIE GESUELE • JOE GIBBONS • CHARLES GILLILAND • BARBARA GILSTRAP • JOHN GLASER • THOMAS GLASS • RUSS GOETZ • DANIELLE GOODMAN • LARRY GOODWIN
AJAYDEEP GORAYA • MICHAEL GOTTOVI • MICHAEL GOUGE • CONSUELO GRABENSTEIN • JASON GRAMLING • JAMES GRECO • LEROY GREENE • TERRY GRIFFIN • VICKY GRIFFIN • JOHN GRIFFITHS • TIMOTHY GROELINGER • CYNTHIA GRUBBS
VANI GULLAPALLI • NEERAJ GUPTA • GERALD GUSTINE • JAMES HAGARTY • JIM HAGGERTY • STEPHEN HALLER • SHANNA HAMILTON • FREDRICK HAMRELL • SCOTT HANDSHY • DONNA HARDEMAN • WILLARD HARMON • LANCE HARRINGTON
LAMONTA HARRIS • RHONDA HARRISON • DANNY HAVARD • CHARLIE HAZARD • YIWEN HE • ERIN HEISER • STEPHEN HENDERSON • MATTHEW HENDREY • FLORIDA HENDRICKS • KEVIN HENRY • THOMAS HERBST • JENA HIGGINS
TANYA HILDENBRAND • JEFFREY HILL • MARIA HILL • TERI HINES • HANS HINKAMP • BILL HIRNER • DONALD HIRSCH • LONNIE HOFFA • RICHARD HOFFMAN • DAN HOLLISTER • RYAN HOLMES • VALERIE HONAKER • JILL HOPPER • SEAN HOSKINS
BLAKE HOSTER • ELENA HOUSER • LAURINE HOUSTON • JEFF HOWARD • VIRGINIA HOWES • STEPHEN HU • ERIC HUANG • KATHRYN HUDSON • RICHARD HUDSON • JOEL HULEN • DAVID HURLEY • DALE HURTT • MICHAEL HYLTON
ISHMAEL INTSIFUL • STEPHANIE IRELAND • IQBAL ISMAILWALA • MARIELL JACKSON • VIKRAM JAIRATH • RONALD JAMES • FREDERICK JAMISON • TRAVIS JANSON • JIM JEROME • DICKSON JESUOROBO • JEANETTE JOERGER • ARLETTE JOHNSTON
DAVID JOHNSTON • JAMES JONES • NINA JONES • ROBERT JORDAN • MICHAEL JUMP • STEVE JUNG • DEBORAH KAERCHER • ARI KAHN • RICHARD KALINEY • KEITH KAMINSKY • SAVITH KANDALA • SANG KANG • WEY KAO • HARRY KAPLAN
ROBYN KAPLAN • EVANGELIA KARMOKOLIAS • SAYEDEH KASMAI-NAZERAN • BIJAN KATEBINI • HARRY KELLAM • JAMES KELLY • JI-FANG KENNELLY • KIMBERLY KEYS • ABU KHAN • IDRIS KHAN • VIKAS KHATOR • JILL KIZEWSKI • DUANE KLATT
ALEXANDER KLOETZEL • BOB KNIGHT • DARLENE KNIGHT • JEFFREY KNISHKOWY • STEVEN KRAHLING • STEVEN KUBRAK • BENJAMIN KUPERBERG • KRISTIN LA • JOHN LAMPASONA • JEFFREY LANDIS • SANDRA LASH • DONALD LASSITER
AMY LE • CHRISTIAN LECCA • CHIA-YU LEE • JOYCE LEIBOWITZ • MICHAEL LENGLE • J.F. LEONARD • LEAH LEUSCHNER • MICHELLE LEVATINO • JOEL LEWERENZ • WILLIAM LEWIS • ARTHUR LEYTON • ANNE LIAUTAUD • JAMES LILEK
NANCY LIMAURO • CATHY LOCKWOOD • ANTHONY LOGAN • ROB LOHMEYER • SUSAN LORD • JULIE-ANN LORFANO • AMY LOWE • DARYL LOWE • CHRISTOPHER LUCAS • ROBY LUNA • DAVID LUTZ • JAMES LUTZ • KELLY LYMPANY
MATTHEW LYONS • YANMEI MA • WILLIAM MACHT • SHELLY MADDEN • NADINE MAJOR • BOBBY MAN • SHAUN MANDELKORN • DAVE MANN • RUSS MARINO • DENNIS MARRIOTT • RICHARD MARSH • KEVIN MARSHALL • CHRISTOPHER MARUCA
JOHN MATHEW • MARK MATHEWS • GARRETT MATTINGLY • ROBERT MATTISON • BARBARA MAXWELL • ALTERMAN MCALLISTER • MIKEL MCCALL • GEORGE MCCLAUGHERTY • JAMES MCCLAVE • DOUGLAS MCGAUGHEY • MATTHEW MCGINLEY
MEGHAN MCGINTY • PATRICK MCGOWEN • BENJAMIN MCGRAW • RICHARD MCILROY • JOSEPH MCMAHON • HAROLD MCNAIR • NA’ETTA MCNAIR • LAURA MEDICI • NIKETA MEHTA • PETER MEIXNER • SAMUEL MESSINGER • OLEG MEYERSON
RICHARD MICKLE • KRISTINE MIKULA • GARY MILLS • MICHAEL MITCHELL • LINDA MOELTER • ELIZABETH MOLYE • BRENDA MONTAGUE • JIMMY MORA • ROBERT MORAN • YVONNE MORGAN • RICK MORRIS • TODD MORRIS • WILLIAM MORRIS
DONALD MORRIS-JONES • COLLEEN MULLIGAN • DAVID MUTRYN • DAVID NACHTSHEIM • JEFF NEELY • KIMBERLY NEISON • RUTH ANN NELSON • DARREL NEROVE • JESSICA NEUMANN • STEVEN NEUMILLER • STEVEN NEWTON • PHU NGO
LUU NGUYEN • THANH N. NGUYEN • SEAN NORTH • KATHLEEN NUCCETELLI • PETE O’DONNELL • DON OCKIMEY • RICHARD OESTREICH • DEBORAH OGUNSHAKIN • MATTHEW OLENN • RACHEL OLFATO • RENO OLFATO • GLENN OLSEN
THOMAS OLSON • DAVID OMOROGBE • MELISSA OPALSKI • JAMES OVERHOLSER • CLARISSE OWENS • TIMOTHY PACHTER • LISA PALMA • VISHAL PAREKH • HYEREE PARK • JENNY PASCUA • DIPTI PATEL • MANUEL PATIO • ROSALIE PATRICK
SAMUEL PATTON • DAN PAVAN • MICHAEL PEARSON • JOHN PEDERSEN • JOHN PEELER • JENNIFER PEILER • STACY PELLEK • ANDREW PENDERGAST • SHARON PENDLETON • SCOTT PERLICK • DANIEL PETONITO • THOMAS PETZOLD
CHHUN PHE • JOHN PHILLIPS • CJ PHILYAW • MICHAEL PITT • ALONZO POINTER • DAVID POLLACK • ROBERT POMROY • BRENDA POMS • ELENA PONTI • KATHERINE POPPERT • STACEY PORTER • JIM POWELL • ERICA POWELL-NORMAN
VALINE POWELL-SMITH • VINNIE PRABHU • MAUREEN PREMO • MICHAEL PRIEST • DANIEL PRINCE • JOHN PROSS • NICHOLAS PURKAT • BO QIAN • JAMES QUAID • ROBERT QUINN • SONYA RAHMANI • JULIEN RAMA • IVAN RAMISCAL
NEIL RANLY • ROBERT RANSOM • MARIA RAY • DEIRDRE RAYBURN • LEVI RAZICS • KIPP REED • PATRICK REGAN • KIMBERLY REID • MICHAEL REID • JOSHUA REINHART • TRISH REKAS • ALLISON REMICK • LEIGH RENFROW • ALLYSON RENZELLA
MARY RESSLER • MATTHEW REZVANI • BRYAN RHEEM • DUSTY RHOADS • ANNA RICHARDSON • DANIEL RICKETTS • TERRY RICKS • RAYMOND RIDEOUT • RICHARD RISDON • ADA RIVERA • SARAH ROCK • MARNIE RODE • BRIAN RODGER
KENT ROGERS • JOSEPH ROMANO • MORELLA ROSALES-HANNER • SANDRA ROSENBLATT • NICHOLAS ROSENGARTEN • ROBERT ROSS • RALPH ROSSETTI • JAY RUHNKE • NEIL RYAN • MARTHA RYDER • OMAR SADIQ • MARY SANDERS
AVINASH SARIN • KRISTINA SAWYER • JOSEPH SCALIONE • JULIE SCHETTINO • STEVEN SCHORLING • JOSEPH SCHUPP • SHELLY SCOTT • GEETA SHAH • ELLEN SHAKER • MARK SHAUGHNESSY • MITCHELL SHAW • DAVE SHAY
RUTHANNE SHEPHERD • FRANK SHER • DOUG SHERWOOD • PANNA SHETTY • BRENDAN SIBRE • GAIL SIEKMANN • MICHAEL SIMMONS • LAURA SIMS • ROBERT SIMS • RUCHIKA SINDHI • PAUL SINGH • STEVE SMAGIN • ROBERT SMALLWOOD
CARL SMITH • CARLTON SMITH • CHARLES A. SMITH • CHARLIE SMITH • CYNTHIA SMITH • DAVID SMITH • JAN SMITH • KELLEY SMITH • ANNE SNELLINGS • JUAN SNOWDEN • CHARLES SOWELL • KENNETH SPALDING • SHIRLEY SPANN
MICHAEL SPARKS • KRISTY SPICER • MICHAEL STACHITAS • CHRISTOS STAMBOULIS • ABE STEED • WARNER STERLING • LORI STOTLER • ALLISON STRINE • JOSEPHINE SU • YUAN-ZHANG SU • BILL SUBLETT • NOAH SUBRIN • JENNIFER SULLIVAN
SARA SULLIVAN • JOHN SUMMERVILLE • STEPHEN SYNNOTT • BRIAN SZCZEPANSKI • JOSEPH TANNENBAUM • CHESTER TANTILLO • KRISTEN TARHAN • LARRY TAYLOR • EMANUEL TEKLE • KARMA TEMPLE • ERIC TESDALL • BIJO THOMAS
KEVIN J. THOMAS • MARIE THOMAS • JOHN THOMPSON • MARYLOU THOMPSON • RICHARD THORP • LORENZO THWEATT • CYRUS TIBBS • LINDA TILTON • NHI TO • IRENA TOL • SHERYL TOLBERT-JOHNSON • DONALD TOMPKINS • LILIAN TONG
LUIS TORRES • ELIECER TORRES-PEREZ • JOHN TOTH • SALLY TRAN • RON TRAWICK • LEE TREICHLER • KAREN TRIPLETT • THO TRUONG • CHUN TUNG • RICK TUOZZO • ANDREW TURNER • JOSHUA UNGAR • ANDREA UPCHURCH
DILAWAR UTHMAN • RUPESH VADREV • LARA VALOSIO • FABIENNE VAN CAPPEL • CHANDY VARGHESE • PAIGE VARNEY • DEBORAH VAUGHAN • STEVE VAUGHAN • CHERI VEGA • NOEMI VENTURA
JENNIFER VINCENT • ECOLA VIRGIL • TIM VOELZ • MICHAEL VOGEL • RICH VOGEL • MIKE WAGNER • JOSEPH WALKER • SEAN WALSH • THOMAS WALSH • JEFFREY WALTER
ANDREW WALTERS • CHINO WALTERS • JASON WAMPLER • ETHEL WARD • GRACE WARD • TONY WASHINGTON • PHILLIP WASULA • MARK WATSON • KEVYN WEINER
TZVETELINA WEINER • WILLIAM WELLS • KATHRYN WENDT • PATRICIA WESSEL • JEFFREY WHITE • JOHNNY WHITE • ROBERT WHITE • RUSSELL WHITE • STEPHANIE WHITE
MARK WHITESIDE • TOMMYLEE WHITLOCK • STEVEN WILBURN • THOMAS WILLIAMS • MIKE WILSON • PAUL WILSON • RYISHEED WILSON • WENDELL WILSON • KERRY WILT
MARTIN WITTEL • JONELLE WOODARD • JOYCELYNNE WU • JEFFREY WYNNE • DEBRA YAMANAKA • RODNEY YOUNG • BENJAMIN YOUTHER • MARLA ZALIS
STEVEN ZARESKI • MARK ZEHNER • KAI ZHENG • SIIKA ZHIVKOVA • ERIC ZIDENBERG • LESLIE ZIEGLER • BARBARA ZISELBERGER • JOHN ZURCHER • 2005
KENNETH ABBOTT • SARAH ABDI • JEFFREY ACKERSON • ASHLEY ADAIR • PENNY ADAMS • TAMARA ADAMS • SHABANA AHMED • WAJIHA ALAM • ERIC ALBERTINE
KIMBERLY ALEXANDER • TANYA ALGOZZINI • ASHLEY ALLEN • BEVERLY ALLEN • JOSEPH ALLEN • JAMIE ALPERS • DAN ALTOBELLI • MARCO ALVAREZ
MICHAEL ALVAREZ • DENISE ANDERSON • STEVEN ANDERSON • JANET ANDREWS • MICHELLE ANGELICCHIO • CHAD ANTHONY • MICHAEL ANTHONY
HUMA ANWAR • DAVID APPLER • LAURA ARCIERI • ZACHARY ARNOLD • NINO ARVANITIS • MARIE ARVELO-PEREZ • BLAINE ASATO • HEBER ASHBROOK
TESFAY ASMELASH • MAHABIBI ASSANIE • BEVERLEY AUGUSTITUS • KIM AVENTS • MATTHEW AVERY • DINESH BABU • JOHN BAGOT • BRIAN BAILEY
DUANE BAILEY • LANNY BAILEY • LOUGENIA BAILEY • MATTHEW BALLON • BRENDA BALTA • CRAIG BAMBROUGH • MIKE BANDY • ERNEST BANKS
                                                                                                                                                                      Nick Srebrow
LINDA BANKS • KEVIN BARNES • MARK BARNETTE • MARIBEL BARRETT • BIRAT BASHYAL • THERESA BASQUEZ • DANIEL BATES • ELIZABETH BATON                                            Program Manager, Office
DONALD BATTIN • ANDREW BAUER • BRAD BAUER • MARCUS BAXLEY • TONI BAXTER • ELIZABETH BECKER • LILA BEDNAR • WILLIAM BEEBE
ANNA BEHAR • EDWARD BEJZAK • KEBADU BELACHEW • DALE BELL • JEFFREY BENOIT • BRIAN BERRY • ERIC BETANOFF • STEPHEN BIERNESSER                                               of Personnel Management,
PAUL BLACK • ASHLEY BLAIR • CARLOS BLAZQUEZ • NATALIE BOLCH • COREY BOLLING • ANJANA BORDOLOI • GREGORY BORNHOFT
TALIA BORODIN • MARY BOTTIN • BRIAN BOULWARE • RYAN BOURNE • KELLY BOWEN • PAUL BOWERS • RYAN BOWERS • STEVEN BOWLES                                                       Touchstone Consulting Group
ROBERT BOYD • JAMES BRACKIN • RENEE BRADFORD • JEFFREY BRASHER • DARYL BREITBACH • TIMOTHY BRENNAN • DAVID BREZNA
MIWA BRINSON • MARK BRISTOW • ANTONIO BROWN • GRETCHEN BROWN • RENEE BROWN • KEVIN BRUNNER • SANETA BRYAN
PAIGE BRYANT • ERICKA BUCK • MARK BUCKLEY • WARREN BUCKLEY • MELISSA BURGUM • JENNIFER BURKE • THOMAS BURKE
THOMAS E. BURKE • GREGORY BURNETT • JOSEPH BURNS • ASHLEY BURRELL • DEBRA BURTON • MONICA BUTLER • SCOTT BYERS
ROSSIO BYRD • BRETT CABECA • HOBART CABLE • BRIAN CAHILL • CAESAR CAIAFA • JAMES CAIN • MARY CALLANDS • CHRISTOPHER CAMP
MICHAEL CAMPBELL • TIMOTHY CAMPEN • JONATHAN CANEDO • DAVID CAPUTO • TARA CARCILLO • JIANING CARLISLE • JOSEPH CARNEY
MEGAN CARNEY • NANEICE CARPENTER • JOHN CARR • SOPHIA CARR FRIDAY • SEAN CARROLL • THOMAS CARROLL • BRUNO CASTEGNARO
ARIEL CASTILLO • MARIA CASTRENCE • BEVERLY CATLEY • ROB CAVE • DAVID CERJAN • HEATHER CERVANTES • TRACY CHAMNESS
KEVIN CHAND • TERRELL CHANDLER • KAVITA CHANDRA • WILBUR CHEN • INFAN CHEONG • PAMELA CHILDS-NEAL • CHING-SUNG CHIN
VIJAY CHIRUVELLA • DONNA CHISHOLM • HOWARD CHOI • JIYOUNG CHUNG • CHRISTINE CLARK • WILL CLARK • ROBERT CLEMENS
TIMOTHY CLEMENTS • JONATHAN CLINTON • ALINDA COATS • KENNETH COBB • WILLIAM COBB • MICHAEL COCHRAN • ANDREA CODD
GLORIA COFFIELD • ROBERT COFFMAN • ASHLEY COKER • ANDREA COLE • TODD COLEMAN • GERALD CONNELLY
KATHLEEN CONNELLY • SEAN CONNELLY • TIMOTHY CONNELLY • WILLIAM CONNER • BRIAN CONOVER • THUAN COOK
DESI COOPER • WILLIAM CORCORAN • JOHN COSTELLO • CRAIG COURTNEY • MATTHEW COWAN • JIM COX • DANIELLE COYNE
JOSHUA CRABTREE • MICHAEL CRAFT • EMILY CRESPIN • JUDITH CRESPO • ANTHONY CROCE • MURIEL CROOM
ANDREW CROSSETT • KENNON CRYMBLE • PAM CULBREATH • ROBERT CUTTER • HECTOR DAIUTOLO • MICHAEL DALY
ANTHONY DANG • SUNITA DASS • MEGAN DAVEY • LESLIE DAVID • VICTORIA DAVIDSON • ALAN DAVIS • KENNETH DAVIS
MATT DAVIS • RONALD DAVIS • WILLIE DAWNS • RICHARD DAWSON • ARTHUR DE LOS SANTOS • RONALD DEAN
DANIEL DEBOOM • JOSEPH DEFALCO • MATTHEW DEMAREST • JAMES DEPASS • KATARINA DEREK • ANNA DERIZEMLYA
JOHN DEWAR • SARA DEWITZ • BALJIT DHANDA • BALDISH DHILLON • ROBERT DI SANTI • SHAWN DICKERSON • LEEANN DICKSON
ROBERT DILLINGHAM • NELSON DINARTE • HARRY DINGLER • MATTHEW DIONIS • AARON DISE • SUZETTE DITTRICH
DAVID DIXON • COLETTE DOGGETT • NANCY DOLAN • ROBERT DOLLBERG • MAY DONG • MICHAEL DONIO • CORDIE DORMAN
LAWRENCE DOTON • TIMOTHY DOWNING • BRYAN DOWNS • PADRICK DOYLE • NONA DRAKE • RODNEY DREHER • RAHUL DUA
RAMMOHAN DUDDEBANDA • TIMOTHY DUFFY • DONALD DUNN • STEPHEN DUNN • SHANNON DURGIN • MATTHEW DUTTON
JANET DWIRE • PALMER ECKARD • LAWANDA EDMOND • CHRISTA EDWARDS • PETER EFIMOFF • WILLIAM EHRHARDT
ROY EISENBERG • ERIN ELDER • ASHLEY ELLIOTT • DAVID ELLIOTT • GWENDOLYN ELLIS-POOLE • MICHELE ENGELHART
PATTI ENGSTROM • STEWART EPSTEIN • JULISA ESPINOZA • BILL EVANCHO • AMANDA EVANS • DENNIS EVANS • STEPHEN EVRY
IDRISS FAISSA • ADE FALTYNOWICZ • PETER FANOUS • KAMAL FAOUR • AARON FAVEREAUX • CALENE FEAVAAI • BORIS FEBRUARY
JOHN FEID • TARA FEILMEIER • BRUCE FELDHAUSER • ISAIAH FELL • TONYA FERGUSON • IAN FETTERMAN • AQUANETTER FIELDS
DAVID FINK • BILL FISCHER • DENNIS FLATH • JASON FLEMING • KIMBERLEY FLETCHER • CALVIN FLOWERS • MIKE FOGLE
KAREN FOJT • SANDRA FONTANA • DUANE FORCADE • ROBERT FORD • SUZANNE FOREHAND • ROBERT FORSTER • JOHN FORT
ROBERT FORTIER • STEPHEN FOURNIER • BRYAN FOX • KATIE FRAMPTON • LYNN FRANCIS • WALTER FRANT • RON FRAZIER
RANDY FREEBURG • GLORIA FREEMAN • MARY FREY • JOSEPH FRIEND • EMILY FRYE • CRAIG FUROIS • JAMES GAHLER
SCOTT GALE • FRANCIS GALLUZZO • RICHARD GALYEAN • SHANDARIN GANN • YINJING GAO • PEDRO GARZA • CARLINA GARZIONE
PRATHIBHA GATTADAHALLI • ELIZABETH GAVER • RANDALL GEARHART • JOHN GEIGER • LARISA GELLER • BRIAN GERTZ
VINCE GESSLER • GERALD GIBB • KAREN GIBB • FRANK GIBBONS • KAREN GIBBONS • SOLOMON GIBBS • JOHN GILLIGAN
JAMES GILMORE • JEFFREY GINES • MARK E. GINEVAN • DEREK GIOVANNI • SARA GODWIN • JAMES GOLASH • RONALD GORNTO
DENNIS GOSSETT • MARK GRANT • TED GRANT • JAY GRASER • CHRIS GRAVELY • MICHAEL GRAY • NATE GRAY • DEBORAH GREEN
JEFF GREEN • ARI GREENBERG • RICHARD GREENSTREET • CATHERINE GREGORY • SHAUNIKKA GREGORY • CHRISTOPHER GRIFFIN
STEPHANIE GRIFFIN • CAROLYN GRILLO • ALAN GROSS • MARLON GUARINO • SCOTT GUENTHER • SATISH GUNISETTY • ED GUO
RACHID HADOUCHE • FRANCIS HAHN • RUTA HAILE • MASOUD HAKAMI • PAUL HALDEMAN • CAMILLA HALL • STEPHEN HALL
STEVEN HALL • LYNNE HAMILTON • NANCY HAMILTON • STEVEN HAMILTON • FRANCINE HAMMOND • SUZAN HANNA • HOLLY HARDING
CRAIG HARNER • PAULA HARPER • BELTON HARRIS • SHARON HARRIS • JACQUELINE HARRISON • JANICE HARRISON • LEE HARRISON
JANET HART • JOSEPH HART • SEAN HART • LEON HARTLEY • JERRE HARVARD • SASHA HASIJA • WILLIAM HASSLER • WILLIAM HATCHER
SHAUNTORIA HATTEN • RASHEEDAH HAWKS • MICHELLE HAYDEN • SELINA HAYES • LORENE HEAD • ROBERT HEATHERLY • JASON HEIT
JOHN HEMPERLEY • DONNA HENRY • ANALISA HERNANDEZ • CHRIS HERR • VATINEE HIA • WILLIAM HIGGINBOTHAM • FREDRICKA HIGGS
DAN HILL • EMERY HILL • SUSANA HILL • THOMAS HILL • ANTHONY HIRES • RODNEY HITE • SARA HOBACK • LISA HOFFMAN
CAMERON HOGAN • KEEFE HOGAN • MARY HOLAHAN • MICHAEL HOLLOWAY • ALEX HOLZWORTH • HERBERT HONAKER • MELISSA HONERT
KEVIN HOPKINS • SUE HORNBUCKLE • APRIL HORNER • GARY HORSLEY • LISA HORTON • WALTER HOUSER • TOINA HOVINGTON
DOUGLAS HOVLAND • OMAR HOWARD • JILL HRABOSKY • GEORGE HSIEH • RACHEL HSIEH • XIAOLONG HU • ELIZABETH HUERTA
FRANK HUGHES • JOANNE HUGHES • JORDAN HUGHES • KEVIN HUGHES • KEN HUNTER • DAVID HUSS • BILL HUTCHISON • LEANNA HUTTON
RODNEY HUTZELL • ASHLEY HYATT • RAZA HYDARI • JOHN IDLER • EHNOI IENEMANYVONG • YASIR IMAM • EILEEN IRIZARRY • RON IVEY
JOSEPH JACKSON • BRIAN JAMES • ALI JANMOHAMED • KARTHIKEYAN JAYAVELU • JOSEPH JEFFERSON • KIM JEFFERSON • DIANA JEFFERY
RACHEL JENNINGS • ANGELA JERNIGAN • QINGGE JIA • ANGELICA JIMENEZ • BRADLEY JOHNSON • DAVID JOHNSON • JAMES JOHNSON
KELLY JOHNSON • MARTHA JOHNSON • STEVE JOHNSON • THOMAS JOHNSON • WILLIAM JOHNSON • AUTUMN JONES • JENNIFER E. JONES
JIM L. JONES • JOHN JONES • KEVIN JONES • LANCE JONES • MORRISON JONES • SAMANTHA JONES • SHAWN JONES • TOBY JONES • BILL JORDAN
GRETCHEN JORSTAD • JONATHAN JOYCE • DOUGLAS JUCKETT • SAMIR KACHERIA • STEVEN KAHN • STACIE KAMINSKI • SCOTT KANE
MELVIN KANNINEN • SHASHIKALA KASALA • ROBERT KAUFMAN • KATHLEEN KAVANAUGH • IZYDOR KAWA • SHEYLA KEANE • CHARLES KEATING
KEHRYN KEEGAN • WILLIAM KEIFRIDER • JOSHUA KELLER • JOCELYN KELLY • PATRICK KELLY • JOHN KENT • SAU KHA • ALI KHAN • JASON KHAN
MINOO KHANALI • MICHAEL KIM • ASHLEY KIMBELL • BILL KIMBROUGH • PHYLLIS KING • TODD KING • ELIZABETH KINTZ • DENISE KITTS • FREDA KJOLHEDE
MEGHAN KLINE • DAVID KLINGER • ROBERT KLUEG • ADAM KNAPP • JUDY KNIGHT • BRIAN KNOWLES • DAVID KO • NGA KO • BETTY KOLLEH
BARNEY KOOGLE • PATRICIA KOOPERSMITH • MICHAEL KOPEC • LAWRENCE KORDOSKY • KAREN KOROW DIKS • CHRIS KOZLOWSKI • ERIC KREINAR
ERIC KREISHER • PAUL KREMPASKY • EVAN KRICHEVSKY • USHA KRISHNAMURTHY • KATHERINE KRUGER • ALEX KRUTHAUPT • SAMEER KUMAR
VIVIAN KYLES • ROCCO LACIVITA • NATHALIE LAM • CARLOS LAMA • DALE LAMB • BRUCE LANG • ROBERT LANTIER • JASON LASKOW • ERIC LAUER
GREG LAUER • RONALD LAUER • JENNIFER LAVAN • JENNIFER LAWHORN • ALLISON LAZAR • PHUONG-THUY LE • CHERYL LEASURE • JONATHAN LEBERT
FRED LECOMPTE • JEFFREY LEDBETTER • BAC LEGAFFNEY • DANNI LEIFER • DEBRA LEISS • MICHAEL LEMIEUX • LINDA LEONARD • MICHAEL LEONARD
PHILLIP LERTORA • GROVER LETT • BOB LEVINE • GORDON LEVY • PATRICK LEWIS • PAUL LEWIS • GEORGE LEYLAND • MICHAEL LICARDI • WILLIAM LIEBE
GREGORY LIESENFELD • DARA LIGHT • WILLIAM LILLARD • JANICE LIN • DAVID LIPPINCOTT • ALISON LITTLEPAGE • MARY LODGE • JOY LOESEL • DANIEL LOGAN
PATRICIA LONG • PING LONG • STEVE LONGORIA • GABRIEL LOPEZ • EMILIO LOPEZ-CENTELLAS • RON LOTT • MARKI LOUIS • EDWARD LOVELL • KRISTIE LOWRY
XI LU • JOSH LUCCHESI • JEANETTE LUCKY • ROLF LUDVIGSEN • JOSEPH LUDWIG • STEFAN LUKOW • ALEXANDER LUPO • GREGORY LUTTER • NING MA
29 | SRA International, Inc.



SRA EmployEES (ContinuEd)

SCOTT MACBETH • RICHARD MACMILLAN • ANTHONY MACRI • PRADEEP MAHADESHWAR • DEREK MAHIN • ROYA MAHNAD • JAMES MAHONEY • JAYASREE MAJUMDAR • CHERRIE MALDEN • LYNDA MALLOW • EVELYN MANGUBA • GERRY MANIGBAS
EMMA MANJO • JERRY MANTZIOUTAS • ANTONIO MARADIAGA • FRED MARAY • JOSEPH MARCEAU • SUSAN MARINO • JARRETT MARQUIS • BILL MARR • CORRINE MARR • EDWIN MARSTON • CAROLYN MARTIN • JAMES MARTIN • REBECCA MARTIN
WENDY MARTIN • MELINDA MARTIN-CLARK • ROBIN MARTINEZ • MARK MASCARO • MARTHA MASON • DAVID MASTERS • MARK MATERIO • ANN MATHISON • FRANKLYN MATTHEWS • DEVON MATTIE • THOMAS MAURO • KATHLEEN MAUROFF
VANESSA MAYO • DEMETRICE MCADAMS • JAMES MCCARTHY • EDWARD MCCARTY • GREG MCDONALD • JANICE MCDONALD • ROSEMARIE MCDOWALL • MICHAEL MCELLIGOTT • CRAIG MCFARLAND • ELIZABETH MCFARLANE • KEVIN MCGEE
MICHAEL MCGEE • CHRISTOPHER MCGOFF • KIM MCGOFF • ROBERT MCGOFF • JOHN MCGRATH • ROBERT MCINTYRE • MARINA MCLAUGHLIN • JAMES MCLEAN • ELAINE MCMANUS • JASON MCWHIRTER • ESUBALEW MEAZA • PATRICIA MELLINGER
DONALD MELLOR • MASOOD MEMON • SEAN MERCADANTE • THERESA MEREDITH • CHARLES MERRELL • KENNETH METZLER • JOHN MEULMAN • DOUGLAS MEYER • ROBERT MEYERS • SONOVA MIDDLETON • GREG MILANS
CHRISTINE MILLER • CLAUDE MILLER • GARY MILLER • JILL MILLER • JOHN MILLER • WILLIE MILLER • WEI-WEI MILNE • VIVIAN MIRES • SHANNON MITCHAM • GARY MIXON • ALEX MOLINA • SANDRA MOLINARO • WALTER MOODY
ANGELA MOORE • SARA MOORE • HECTOR MORALES • DOUGLAS MORFORD • DEANDRE MORRIS • JAMES P. MORRIS • BRIAN MOSER • TANYA MOSLEY • SARA MULLINS • TROY MUNFORD • DONALD MURPHY • KEVIN MURPHY
STEPHEN MURPHY • THOMAS MURPHY • DEBORAH MURRAY • JAY MURRAY • JOSEPH MUSGROVE • JEAN MUSSELWHITE • AMANDA MUSSER • KATINA MYLES • ASHA NAIR • NANDAKUMAR NARAYANAMURTHY • ESTELITA NARVACAN
JENNIFER NEELY • BENY NEFF • SARINA NETTLES • JASON NEUMER • ARTHUR NEUWEILER • NAM NGUYEN • WILSON NHLIZIYO • EDWARD NICKEL • THOMAS NIMMO • THERESA NISHIMOTO • CATHERINE NIX • MAEGEN NIX • ARTIE NOEL
GALINA NOGIN • KEN NOVAKOFF • MICHAEL O’BRIEN • JOAN O’NEILL • KATHRYN O’NEILL • DOUGLAS OAKFORD • MICHAEL OBALDE • PHILIP OGLESBY • FAUSAT OGUNSANYA • JAMAL OKON • PAMELA OLSEN • AUDREY OLSON • KELLY OLSON
RICARDO OLYMPIA • LYNNE ORMSBY • ROBERT ORNDORFF • BETH OROZCO • BRIAN ORT • TILLMAN OXFORD • VINCENT PACCHIANA • DENISE PALAHUNIK • ELISA PALMER • O’NEIL PALMER • SEAN PALMER • ANTHONY PALUMBO
PETER PALUZSAY • BRADFORD PANTUCK • MICHAEL PARALOGLOU • PETER PARDUN • EUNG PARK • KIESHA PARKER • PHILIP PARKS • TRAVIS PARSLEY • JOHN PARSONS • HETEL PATEL • SONYA PATEL • JAY PATNAUDE • JOHN PATRICK
JIMMIE PATTERSON • GLENN PEACE • CHARLES PENNINGTON • JON PENNINGTON • PAUL PEREGRINO • JAMES PERKINS • REGINA PERKINS • DAVID PERNA • JOHN PERRY • ROKELL PERSON • PATRICK PETE • SAMUEL PETERS • VIJAY PETWAL
MARK PFLAGING • TRUC PHAM • PETER PHAN • SON PHAN • JEFFREY PHANEUF • JOHN PHANOS • GEMMA PHELPS • KIMBERLY PHILLIPS • DARREN PHOUNSAVATH • CHELSEA PICKENS • KRISTINA PIKE • CHERISE PILGER • ALBERT PLESKUS
JENNIFER POIRIER • HEATHER POLK • KEVIN POORE • JAMES POPE • GILBERTO PORTILLO • DAVID POT • VENKATESH POTDAR • JAMES POWELL • MARK POWERS • STEPHANIE POWERS • RON PRATER • DAVID PREISSMAN • GAIL PRITCHARD
CATHY PRUSINOWSKI • THOMAS PUGLIESE • SANGEETHA PULIGELLA • CARL PULLIAN • JOHN PURDON • ERIC PURVIS • KATHLEEN QUINN • MELLICENT QUINN • ANGELA RADKE • ELVIE RAY • PATRICIA RAYMOND • SAM REACH • MICHAEL D. REDMAN
JOSH REDMOND • SHERRI REED • SARA REESE • AMI RETAMOZA • CHRISTOPHER REYNOLDS • LIA RICALDE • MARIA RICCA • MELINDA RICHARDS • TAMMY RICKHOFF • MICHAEL RIEBOLD • ERIKA RISSI • SCOTT RISSMILLER • STEPHANIE RIVERA
AION ROBERTS • JACLYN ROBINSON • LAURA E. ROBINSON • DAVID ROBOCKER • HEATHER RODBURG • MARISOL RODRIGUEZ • CLIFFORD ROE • JAMES ROJAS • MICHAEL ROMERO • JOHN ROMPS • MADELINE ROSARIO • JESSEY ROSE
ELLIOTT ROSS • BEN ROTH • AIMEE ROTHSCHILD • KENNETH ROUSSEAU • GILBERT ROWAN • ELENA ROZENBAUM • EDWARD RUFFEL • CECILIA RUSH • RALPH RUSSO • JOHN RYBARCZYK • ALICIA SALO • ALAN SALSIEDER • KISHA SALTERS
BANGKAR SAMETH • CHRISTINA SANDBERG • LEE SAPADEN • KRISHNA SARSAN • STACY SATHER • MARLENE SATTER • KIMBERLY SAWYER • THOMAS SCATAMACCHIA • DOUGLAS SCHAEFER • MATTHEW SCHAFFER • MICHAEL SCHELBLE
RONALD SCHIEFER • GREGORY SCHLAICH • CHRISTINA SCHLEE • REGINA SCHNEIDER • THOMAS SCHNEIDER • SCOTT SCHOEPPACH • JAMES SCHOONMAKER • HARVEY SCHULTZ • DOUGLAS SCOVILLE • HENRY SCOZZAFAVA • PAUL SCROFANI
CHRIS SEHER • JOSE SERRA • MARK SERRANO • SCOTT SEYFORTH • APURVA SHAH • YASH SHAH • ALEKSANDR SHAMKO • CAROLE SHARPLEY • BETSY SHAW • MARY SHAW • JOHN SHEEHAN • MARGARET SHEEHAN • SHALINI SHIKHA
STEVEN SHOEMAKE • CARRON SHOFFNER • JILL SHOHET • PAUL SHREINER • ANGIE SHREWSBERRY • JOE SHRIGLEY • INESSA SHUSTERMAN • JAMES SIACHOS • EDWARD SICA • ARUNAGIRI SIGAMANI • BRIAN SILMAN • MARY KATE SIMPSON
MOLLY SINGER • NEETA SINGH • SONU SINGH • SCOTT SINGLETON • SUELLEN SINK • ROBERT SIPES • ANTHONY SIPPERT • JAMES SKINNER • VIVIAN SLAUGHTER-MITCHELL • BOB SMITH • DANIEL SMITH • GRACE SMITH • JAMES A. SMITH
JERROD SMITH • NEAL SMITH • TERRENCE SMITH • TIMOTHY SMITH • KIMBERLY SMYSER • MICHELLE SNORGRASS • THOMAS SNYDER • BORIS SOLOVYEV • INJUN SONG • ERIN SPECK • HARVEY SPEER • NICK SREBROW • MICHAEL STAAB
BARRY STADD • MARY JUNE STADY • CHARLES STAGGS • ALICIA STANLEY • RICHARD STANLEY • SHARILYNN STEELE • DANIEL STEIN • LAURIE STEORMANN • AMY STEVENS • CHRISTINE STEVENS • AUGUSTUS STINE • CHARLES STIPPICK
CARL STODDARD • KRISTI STOFER • BRADLEY STOFFOLANO • JOHN STOKES • MICHAEL STOKES • STANISLAV STOLIAROV • JONATHAN STONE • VAN STOVER • KATHLEEN STRAUS • CHARLES STRINGFELLOW • DOUG STROOCK • ROBERT STUERKE
JILL STURDIVANT • ASHLEY SULLIVAN • MICHAEL SULLIVAN • TONY SUMMERLIN • YE SUN • BOB SUROVCHAK • ROBERT SWACKHAMER • BRUCE SWANK • KIRK SWANN • KATIE SWEENEY • STEPHEN SWOPE • CHRISTINE SWORDS • MOGHIS SYED
ERIKA SYKES • YEKATERINA SYTIK • JASON TARBY • CAROL TATE • LISA TAYLOR • MARSHALL TAYLOR • KEITH TEMPLE • TED TENNYSON • THELMA TERRELL • CHARLES TEUBERT • TREVER TEUBERT • GORDON THIGPEN • DONALD THOMAS
FAITH THOMAS • JEANNETTE THOMAS • LANCE THOMSON • RAYMOND THORNBER • LESLIE THORNTON • CATHERINE TIFFANY • ALEX TOMLINSON • ROBERT TONDEVOLD • MICHAEL TONER • SHANNON TOSOLT • COLLEEN TOWNSEND
MICHAEL TRAN • TONY TRAN • KEITH TRENDLER • M.K. TRIBBIE • JANET TROESTER • PHI TRUONG • EILEEN TSCHETTER • NICHOLAS TULINI • KATHALYN TUNG • RANDALL TURKEL • DARRYL TURNER • LARRY TURNER • KATHERIN TUTEN
ALVARO UGAZ • SUZANNE VALENZO • MICHELLE VALLAR • FRANK VAN BALEN • CHRISTIAAN VAN DER MERWE • WILLIAM VAN DEUSEN • BARBARA VANCE • JENNIFER VANMETER • DAMARIS VARGAS • KRISHNA VELLAKKAT • JAMES VILL
LISETTE VILLARIVERA • BRAD VITTRUP • VALENTINA VOLKOVITSKAYA • SUDHA VYAS • RICHARD WAGNER • LARRIER WALKER • NIRA WALKER • DONALD WALLACE • TARIK WALLACE • THOMAS WALLIN • KATE WALSER • KATHRYN WALTER
DANIEL WANG • TIMOTHY WANG • YUHUA WANG • GERARD WARD • WILLIAM WARDLAW • CHARLOTTE WARMAN • JAMES WARREN • HARVEY WARRINER • TRAMAINE WASHINGTON • STEPHAN WASSERMAN • NYREE WATERS • ROBERT WATTS
CLAUDIA WAYNE • SHANNON WEADER • JAMES WEATHERALL • ROBERT WEBSTER • CHARLES WEDDLE • ERIC WEIDENBACHER • ADAM WEINSTEIN • JOSEPH WEISS • NATHAN WEISZ • MARY WESCH • KRISTI-LYNN WEST • MARK WEST
RANDY WEST • JODI WHARFF • RICHARD WHEDBEE • JUSTIN WHERRITY • CURTIS WHISMAN • DOUGLAS WHITE • RODNEY WHITE • BRUCE WHITTEMORE • CYNTHIA WIGGINS • TAMMY WILKERSON • TOM WILKERSON • CARROLL WILLIAMS
LIONEL WILLIAMS • LISIA WILLIAMS • LUCIUS WILLIAMS • NICOLE WILLIAMS • ROBERT P. WILLIAMS • ZACK WILLIAMS • BETTIE WILLIAMS-KINDRED • MATTHEW WILLSON • STEVE WINCZA • MARY WINGER • SHANE WINGERSON • MAURINE WISDOM
MARCUS WOLCOTT • HARRY WOLFORD • SHELLY WOMBLE • KUM-SUNG WONG • LINDA WONG • MARY WOODELL • NORA WOODS • TERRY WOODSIDE • ANNIE WOOLFOLK • JOANN WRAY • JULIA WROBLEWSKI • CHIA-JUNG WU • LARRY XING
ANIL YADAV • HARI YALAMANCHILI • BEILI YANG • AHMAD YASIN • AMY YEH • TOK YI • DEMETRIUS YOUNG • STEPHEN YOUNG • SUE YOUNG • SHAHZAD ZAFAR • DOUGLAS ZANDER • BILLY ZEIGLER • XIAONING ZHANG • LYNN ZHOU
YANSONG ZHU • DAVID ZIFF • 2006 • MARIANN ABBONIZIO • NORMAN ABDERHALDEN • WILLIAM ABERNETHY • WILLIAM ABNER • DANIEL ABRAHAM • LEOLA ABRAHAM • SADRUDDIN ABUWI • JOSEPH ADAMANY • RHONDA ADAMS
WALTER ADEMILUYI • JASON AFFINITO • DOUGNO AGBOBLI • SAID AHMED • MOHAMMAD ALAM • DAVID ALLDREDGE • JOSEPH ALLEN • STEPHEN ALLEY • SHOLA ALOFE • LIZETTE ALONZO • GREG ALTIG • DARREN ANDARIESE
BRANDON ANDERSON • BRETT ANDERSON • BRUCE ANDERSON • NEAL ANDREW • CLIFFORD ANDREWS • MAATSI ANGWAFO • RICHARD ANSBRO • CHRISTOPHER ANTONS • JOHN ANWANWAN • NICHOLAS ARACIC • RABIHA ARIF • LEE ARNOLD
KATHLEEN ARREDONDO • LATOYA ASHFORD • TANINA ASHLEY • RONALD ASHTON • JOY AUSTIN-LANE • CAROL AXMANN–HARRISON • VENUGOPAL AYALASOMAYAJULA • ROYYAN BADEGES • CHELSEA BAKER • VERONICA BAKER • PETER BALAZY
CHARLES BALDWIN • NICOLE BALKIND • HAILEY BALZER • DOUGLAS BANCROFT • JOHN BANKS • FAWN BARKER • DAVID BARNHART • ROBERT BARONE • MARK BARRINEAU • LAWRENCE BARRY • RAJANI BARTAKKE • SUSAN BARTLETT
TRACY BATSTONE • MEGAN BAUMGART • JAMES BAXTER • JOSH BAXTER • PAUL BAZ • RICHARD BEAMER • SUSAN BEAN • STEPHEN BEARDEN • CARL BEAUDRY • MARK BECKER • LISA BENAVITCH • KHEIRA BENKREIRA • MAURICE BENNETT
BARTON BERNALES • RICHARD BERRY • ANDREA BETHEA • DEREK BEVERLY • SUNIL BHASKARLA • RAVINDER BHATIA • KATHLEEN BIBLE • DON BILLUPS • MARK BIONDO • THOMAS BIRGE • MARK BISCHOFF • JOHN BISKADUROS
 PETER BLANKENHEIM • ENOCH BOATENG • BRIAN BOCHICCHIO • SALLY BOCKH • LUCIEN BODDEN • NIA BODDIE • DAVID BOHIN • JULIAN BOLDING • KENNETH BONSER • MEREDITH BORRERO • BRIAN BOYD • GLENN BOYD • DAVID BOYKINS
          GAWAIN BRACY • JOHN BRADLEY • PATRICK BRAFFORD • KIMBERLY BRANCHESI • HARKANWAL BRAR • LINZI BRESLER • CYNTHIA BREWER • EDWIN BRINKER • KENNON BROADHURST • JOSEPH BROOKS • RICKEY BROOKS
                 DARRIN BROWN • DAVID BROWN • ERIN BROWN • IRWIN BROWN • LA WANDA BROWN • LENNOX BROWN • RUSSELL BROWN • SAPNA BROWN • WILLIAM BROWN • JENNIFER BROWNING • JEFFREY BUCHOFF
                        KATHRYN BUETTNER • TRAVIS BUNN • PATRICIA BURKE • CINDY BURNEY • KELLIE BUROW • TIANA BURRIS • MICHAEL BURRISS • MARK BYERLY • JAMES BYRNE • JUAN CABANEZ • WEI CAI • VERNON CAINES
                               STEVEN CALANDRO • RONNIE CALDWELL • DOUGLAS CALHOUN • MICHAEL CALVERT • SORY CAMARA • ROBERT CAMPBELL • MICHAEL CAMPISE • DELROY CANTON • MARGARET CAREY • ERIK CARLIN
                                     SARA CARLSON • JACQUELYN CARPENTER • WAYNE CARSON • MICHAEL E. CARTER • MICHAEL J. CARTER • RAFAEL CASTRO • RICARDO CAVE • STEVE CAVE • JASSEN CECI • KATHRYN CERWENSKY
                                          CHRISTEN CESANEK • ARUN CHADHA • DAVID CHASTAIN • ELIZABETH CHEEHY • CHAOSHENG CHEN • YING CHEN • JACKY CHEONG • ANDREW CHERESNOWSKI • STEVEN CHESTER • YU CHEUNG
                                                GARY CHILCOTE • CHRISTINA CHIN • WAYNE CHIN • RAVINDRA CHITNIS • HYUNWOO CHO • WOO CHO • KRISTEN CHRISTENSEN • KATHLEEN CIANCI • ANTHONY CICCO • SAMUEL CLARK
                                                    WENDI CLARK • DAVID CLAYTON • JACKIE COCHRAN • DAVID COLEMAN • LONNIE COLEMAN • BRIAN CONNOR • VETTE CONTEE • JIM COOK • DONALD COOPER • LATONYA COOPER
                                                         JOHN CORDONE • JOHN CORWITH • WILLIAM COTTEN • ERIKA COTTON • JEREMY COURTNEY • JOHN COUSINS • ROBERT COUTURE • DONOVAN COZZENS • DANIEL CRATTY
                                                             BILLY CRAWFORD • SANDRA CRUTHIRD • RODERICK CRUZ • JANE CUBBON • DARREN CUFFIE • MATTHEW DALY • DENNIS DAMON • JAVAD DAR • DEBRA DAVENPORT
                                                                  RYDELL DAVIDSON • ANGEL DAVIS • CHARLES DAVIS • TRAVIS DEAN • ERIC DECARLI • KEVIN DEHAVEN • MATTHEW DELGADO • VALERIE DELLA FAVE • LANDON DENSLEY
                                                                      THOMAS DENSON • ASHLEY DESPANZA • ALAN DETKI • DAVID DICK • BRIAN DICKERSON • TERESA DICKEY • BROOKE DICKSON-KNOWLES • WORISHMIN DIETRICH
                                                                         JERMAINE DIXON • KHANH DO • ERIC DODDS • STEPHENIE DODGE • GIULIANA DOLL • BEATRICE DOMATOB • VENKATA DOMMATA • SARAH DONDERO
                                                                            GINA DONNELLY • MEGAN DOYLE • WESLEY DOYLE • JOHN DRAGSETH • CHANGLI DUAN • MICHAEL DUBOIS • ELLEN DUCK • JASON DUFFUS • TERRY DUKE
                                                                                 CHRIS DUONG • ANTHONY DUPLESSIS • WILLIAM EASH • LELAND EASTMAN • ANTHONY ECHOLS • MARVIN ECHOLS • LISA ECKHOLDT • DAVE EDWARDS
                                                                                    JAMES EDWARDS • SHERELLE ELEY • AYMAN ELMORSHEDY • MOLLEY ELVINGTON • DAVID EMBREY • ROWENA ENATSKY • WILLIAM ENEY
                                                                                       HEATH EPALOOSE • TWAN EPES • WILLIAM ERVIN • PATRICIA EURE • GERALD EVANS • JEANNETTA EVANS • ROBERT EVANS • HILARY EVERS
                                                                                          VERNON FADELEY • ALEXANDER FANGONIL • SUSAN FARISS • BARRY FAUSNAUGH • GEORGE FELDMAN • ANDREW FELIPE • CARL FELTON
                                                                                             MATTHEW FENWICK • JOHN FITZPATRICK • HEATHER FLAGER • BOBIE JO FLECKER • WILLIAM FLEISHMAN • ANTHONY FLETCHER • KEVIN FLORA
                                                                                                BRIAN FORD • JULIE FOSSLER • JEFFREY FOSTER • GABRIELLE FOURNET • ROBERT FRANCIS • PIOTR FRANCKOWSKI • BRUCE FREEDMAN
                                                                                                  DEBRA FRITZ • JAMES FRODGE • MICHAEL FROELICH • KATHY FRUGE • DONALD FULLER • MICHAEL FULTZ • CONSTANCE FUNDERBURK
                                                                                                     MATTHEW GABAY • ERIC GADE • VIJAY GADHOK • HEATHER GALLION • KEITH GALLO • MICHAEL GAMBLE • WANDA GAMBLE
                                                                                                       RUFUS GANT • DORIS GARCIA • LAWRENCE GARRISON • JUSTIN GAVALLA • JOSEPH GEWERTH • JEFFREY GIAMMO • SAMUEL GIBSON
                                                                                                         GREGORY GILLIS • JAMES GILPATRICK • DONALD GOBER • MARIA GODWIN • ZOYA GOLDMAN • JEAN GOLUB • MARY GOMBOLA
                                                                                                           EDWARD GOODWIN • RUBEN GORDILS • JOHN GRAY • MORNA GREEN • ROGER GREEN • SHIRLEY GREEN • BRIAN GREENE
                                                                                                              JASON GREENE • PAUL GREENE • ROBERT GREGORITS • GLENN GRIFFIN • ERIN GRIMM • LILY GRIMM • DAN GROSS
      Meredith Sigmon                                                                                           OFELIA GUERRERO-KIRLIN • EMIL GUIGOV • MARTIN GUINN • KRISTINA GUNN • RAMNIK GUPTA • HAROLD HAGANS
                                                                                                                  JILL HALL • LISA HALL-GRIGSBY • JOHN HALLISEY • WALEED HAMDI • GISELE HAMILTON • THOMAS HAMILTON
       Human Resources                                                                                              DEBORAH HAMMOND • GWENDOLYN HANKERSON • KATHERINE HANLEY • GAYL HANN • ERIC HANSON • DANIEL HARLAN
                                                                                                                      WILLIAM HARLOW • JEWEL HARMER • JANE HARMON • TEIA HARPER • ANDY HARRAH • DANE HARREL
       Operations Manager                                                                                               JOSEPH HARRIS • ANNELLE HARRISON • ROBIN HART • ANDREW HARTER • DANIEL HARTMAN • TEENA HARTSOE
                                                                                                                         TAD HARTZELL • JAMES HARVEY • VICTORIA HATFIELD • MARILYN HAWKINS • KEVIN HAYDEN • CARLA HAYES
                                                                                                                          DEREK HAYNES • ROBERT HEAD • SAMANTHA HEADEN • TONYA HEALEY • ROBERT HEATHCOCK • ALLEN HEGARTY
                                                                                                                           TODD HEINDSELMAN • WILLIAM HEINTZ • JEREMY HEPLER • MARK HERBST • STEVEN HEUER • TONI HICKSON
                                                                                                                             KELI HIESTER • EDWARD HILL • STACIE HITES • DZUNG HOANG • ELIZABETH HOGAN • JAMES HOLCOMB
                                                                                                                              RENEE HOLDEN • STEPHEN HOLDEN • PHENESSA HOLT • DAVID HOOPENGARDNER • ANGELA HORN
                                                                                                                               BENJAMIN HORWITZ • TIVADAR HORZSA • REBECCA HOSKINS • BRADLEY HOTALING • MARK HOUCHENS
                                                                                                                                JACQUELLA HOUEY • LADAWN HOWARD • MARLENE HOWARD-MOORE • DIRK HUFFMAN • JENNIFER HUGHES
                                                                                                                                  WING HUI • IAN HULL • JASMINE HURD • AMEEN HUSAIN • MAYUMI IMAMURA • VANESSA INGLE
                                                                                                                                   GARY IRVING • ANNETTE JABLONSKY • JULIAN JACKSON • MEISCHA JACKSON • CRYSTAL JACOB
                                                                                                                                    MATTHEW JACOBSON • SCOTT JANIK • ROBERT JEFFERS • IGNACIO JIMENEZ• RODNEY JOACHIM
                                                                                                                                     ERIC JOHNSON • KORY JOHNSON • PETRA JOHNSON • REGINA JOHNSON • RICHARD JOHNSON
                                                                                                                                      ROBBIN JOHNSON • DARLENE JOHNSON-ROBINSON • GLENITA JONES • HAROLD JONES
                                                                                                                                      JESSICA JONES • TOWANDA JONES • JARED JONKER • LASHANDA JORDAN • CHRISTIAN JORGENSEN
                                                                                                                                       KERSLEY JOSEPH • TIMOTHY JULICH • GREGORY JUSTICE • ANSUMANA KAMARA • ADAM KAMBER
                                                                                                                                        LAWRENCE KAMON • JULIZA KANE • PERIAKARUPPAN KANNAN • MEHER KATRAGADDA
                                                                                                                                        SIVAKUMAR KAVIYAPPA • LORRIE KEATING • PERRY KEATING • ROBERT KEATING • DANIEL KEBEDE
                                                                                                                                         METASEBIA KEBEDE • MALACHI KEDDINGTON • MARY KEESER • JAMES KELLER • MICHAEL KENNEDY
                                                                                                                                         RICHARD KENNEDY • REBECCA KENT • ALEXANDER KERN • SADIA KHAN • ABDEL KHATEEB
                                                                                                                                          KURT KIESEL • JUN KIM • CHRISTOPHER KINCAID • MARGARET KING • JOHN KINNER
                                                                                                                                          MARQUAY KIRKLAND • FRANKLIN KIST • RICHARD KITYNSKY • TORSTEN KLUGE • PETER KNOLLE
                                                                                                                                           THOMAS KNOWLES • KELLY KOBACK • AMY KOCHANOWSKY • MICHAEL KOMRADA
                                                                                                                                           JILLIAN KOVACS • NADEJDA KOYTCHEVA • TODD KRAUTH • LAURA KRIV • JUSTIN KROWICKI
                                                                                                                                           ALISON KRUK • CHARLES KRUMHOLTZ • PAUL KRUTHOFF • JENNIFER KUHNEL
                                                                                                                                           SHANTHINI KURIAN • PATRICK LALLY • BRANDON LAMB • RUTH LAMPKIN • JOHN LANE
                                                                                                                                           DAVID LANG • JOHN LANGE • MARY LAPLANTE • TANIKA LASHLEY • CYNTHIA LATTANZI
                                                                                                                                            SIF LAZIZI • LINH LE • QUOC LE • DANIEL LEARNED • DONG LEE • LEONARD LEE
                                                                                                                                            STEVEN LEE • JOE LEIBOWITZ • ALLAN LEIFER • DENISE LENGYEL • JENNIFER LEONARD
                                                                                                                                            MICHAEL LEPORE • JOSIP LETINA • SEAN LEUNG • MARK LEWIS • PETER LEWIS • YONG LI
                                                                                                                                            YUNPENG LI • TING-LUNG LIN • YONG LIN • JASON LINDGREN • DELONG LIU
                                                                                                                                           RICKY LOCATELLI • CASEY LOEHER • VALERY LOUIS • GLORIA LOVETT • FRANKLIN LOWE
                                                                                                                                           STEPHEN LOWE • TUONG LUONG • MICHAEL LUPO • THOMAS LUTTERBIE • DALE LUU
                                                                                                                                           ROBERT LUZ • KIET LY • MARK LYON • DAVID MACCAMMON • BRUCE MACKLIET
                                                                                                                                           NEETU MADAN • JOHN MADDEN • JAYEN MALDE • BRITTAIN MALLOW • JACQUELINE MALONE
                                                                                                                                           MOLLY MALONE • PATRICIA MANCESIDOR • GURUSWAMY MANIKKAVEL • FRANK MANJA
                                                                                                                                          BRADLEY MARCHAND • KATHERINE MARSHALL • JESSICA MARTIN • PIA MASCHIO
                                                                                                                                                                         2007 Annual Report | 30


DANIEL MASON • TOM MASON • JENNIFER MATHIESON • KATHRYN MATHIS • MICHAEL MATTHEWS • ROBERT MATTHEWS • JENNIFER MATTOON • JONATHAN MATYS • WALTER MAURER • BRIAN MAVES • MARY MAYO • PERCY MCADOO
MICHAEL MCCORMICK • JOHN MCCOY • BRYAN MCFADDEN • TIMOTHY MCFADDEN • JAMES MCGONIGLE • BRIAN MCINTOSH • DOUGLAS MCKAIN • RONALD MCKENSTRY • CASSANDRA MCKNIGHT • COLEEN MCMAINS • LATINA MCMANUS
DAVID MEAD • LINDSAY MEADOWS • CINDY MEDRANO • DAVID MEDVITZ • JENNIFER MEIL • CHARLES MENNINGER • KENNETH MENTH • JENNIFER MERANI • STEVAN MESERVE • KATHLEEN MIHALISKO • EMILY MILES • KENNETH MILHOAN
AMBER MILLER • EMILY MILLER • MARCUS MILLER • CHRISTIE MIMS • SCOTT MISERENDINO • LINDA MITCHELL • PHILLIP MITCHELL • RUDOLPH MOFFATT • MOHAMMAD MONIRUZZOHA • JOSEPH MONROE • KEVIN MONROE • JENNIFER MORGAN
JUSTIN MORGAN • DENNIS MORLOCK • AARON MORNINGSTAR • WADE MORRIS • WILLIAM MORTON • REZA MOSAVIAN • VIVIA MOSLEY • KOUHYAR MOSTASHFI • JAMES MUHAMMAD • MARK MULLER, JR. • BRIAN MULLERY • DANNY MULLIN
CARLOS MUNIZ • MICHELLE MURGUIA • AGNES MUTUKU • CHRISTOPHER NAPPIER • SAM NAVARRO • THOMAS NEELY • ANDREW NEFF • CHRISTOPHER NELMS • TIMOTHY NELSON • BRADLEY NESTICO • TINA NGO • HANH NGUYEN
QUAN NGUYEN • TIMOTHY NGUYEN • RICHARD NICOLET • ANDREW NOTARIAN • STEVEN O’NEILL • MICHELLE OBAUGH • S. OLASKY • LYLBURN OLLIE • MICHAEL OLUFOLAJU • JONATHAN ORINGDULPH • GARY ORREGO • GIL OSORIO • ROBERT OSTER
JEAN OSTERMAN • EDWARD OSTRANDER • BRYANT OWENS • DANIEL OWENS • BERNARD PALMER • CLIFF PALMER • THOMAS PALMER • DAVID PANNOZZO • BRYAN PARDOE • THERESA PARIS • SANDRA PARKE • NIRAJ PATEL • NIRALI PATEL
ALLISON PATRICK • JAMES PAYNE • RACHEL PAYNE • JOHN PENDLEBURY • KRISTIN PENE • BUFF PEREZ • LYDIA PERIGO • ALAN PERKINS • JESSICA PERRY • ANTHONY PERSEO • SENANIKONE PESINO • TORRE PETERSON • RICHARD PETRASSI
ERICH PETSCHAUER • DEVON PETTY • SHERELL PHILLIPS • WAYNE PHILLIPS • LINDSAY PHIPPS • SAKEENA PICKETT • DEBORAH PIERCE • KIMBERLY PIGGOTT • JOSEPH PITT • CATHERINE PITTMAN • JEFFRY PLATT • MARK PLEASANT
DANIEL POCHTAR • ANGELA POE • AMIR POONSAKVARASAN • DAVID POPPERT • CHARLES POWELL • DERWIN POWELL • JOSEPH POWERS • DAWN PRATT • GLORYVEE PROCTOR • THOMAS PROTZELLER • JEFFREY PURCELL • AMIT PUTHRAN
JAMES QUALEY • GARY QUAY • ROBERT QUIN • CHANDER RADHAKRISHNAN • BRIGITTE RAFAIE • FERROZA RAFAIE • KONATHU RAGHU • JOSEPH RAGSDALE • BAKHTIER RAKHMATOV • STEVEN RAMEY • MAHMOUD RANKOUSSI • MARK RANSOM
DANA RASKIN • GREG RASSATT • RODNEY RAUBACK • RAFAEL RAVAL • VADIM RAVICH • AARON RAWSON • WILLIAM RAY • JORI RAYMOND • TEHSEEN RAZA • MELANIE RED • SHERRIE REDDEN • ADAM REDENBAUGH • JOHN PAUL RELUNIA
PAUL REMPERT • KIM RENNICK • SUSAN RICH • ERNELL RICHARDSON • RICO RICHARDSON • QUINCE RICKARD • WARREN RILEY • ROBERT RINGDAHL • TRACY RIVERS • TRACEY ROAR • CHARLES ROBERTS • PAIGE ROBERTS • ALAWN ROBINSON
LORETTA ROBINSON • ROGER ROCKWELL • JEFFREY RODRIGUEZ • STEVEN ROLL • BENJAMIN RONEN • CHRISTOPHER ROSS • LISA ROTI • SEANA RUBIN • PHILIP RUFF • LINDA RUIZ • RICHARD RUNTAS • SANJAY RUPANI • LISA RUSSELL
DAVID RUSSO • MICHAEL SALLADA • JOYCE SALTER • RAFEE SAMEEUD-DEEN • TIMOTHY SAMMARTINO • JENNIFER SAMMIS • HAROLD SAMMONS • MICHAEL SAMPSON • CARLOS SANCHEZ • HANNA SANCHEZ • VICTOR SANCHEZ
JEREMIE SANDBECK • JENNIFER SANTANA • PAUL SANTORO • DENISE SARPONG • MARK SAUCER • MICHAEL SAUER • AMBER SAUSAMAN • ROBERT SAVAGE • TRUDY SAVOY • THOMAS SCANDALE • KARIN SCHETTLER • WILLIAM SCHICKERT
CHRISTOPHER SCHINNERER • LEE SCHINNERER • DAVID SCHMIDT • PHILLIP SCHOOLCRAFT • RACHAEL SCHREI • JOHN SCHRIMSHER • ANDREA SCHWARTZ • JEROME SCOTT • PETER SEALY • PETER SEITZ • JOHN SELLS • MICHAEL SEROCZYNSKI
NIDHI SETHI • JESUS SEVILLA • GARY SHAFFER • AARTI SHAH • JOHN SHAW • CHARLOTTE SHEINBAUM • DAVID SHELDON • BRENT SHELTON • MIKIYAS SHEWANGIZAW • CHUAN SHI • LISA SHIRK • JED SIACOR • KATHERINE SIJTHOFF
HEATHER SILMAN • NAN SILVERMAN • WILLIAM SIMMONS • PAUL SIMON • ALICE SIMS • LAVERNE SIMS • RAMDAS SINGH • JENNIFER SKINNER • THOMASINA SLIGH • JAMES A. SMITH • REBECCA SMITH • SAMUEL SMITHERS • JAMES SNEED
MICHAEL SNYDER • STEVEN SNYDER • SETH SOBEL • SAM SOLOMON • STEPHANIE SOLOMON • ERIKA SOULIERE • ANDREW SPAHN • KACI SPEARMAN • TONYA SPEARMAN • DAVID SPENCE • REBECCA SPENCE • JOHN SPENCER
STEPHANIE SPENCER • ROBERT ST. JOHN • MARGARET STAGNER • NAOMI STANFORD • DONALD STEFFEN • ANDREW STEINBACHER • BRAD STEINMAN • DANITA STENBERG • MAURICE STEPHENS • CARMEN STEVENSON • KIMBERLY STIGALL
GERALD STINER • MATTHEW STINSON • RICHARD STOCKHOLM • KATHERINE STRAW • JEFF STRENGE • ANDREW STRINGER • RICHARD STRONG • YOSEMONT STRONG • ANNETTE STRUPP-ADAMS • DALLAS STUMP • GAVIN SULLIVAN
SARA SUMMERS • DOUGLAS SUNSHINE • DANIEL SUTCH • BRIAN SUTTLE • ROBERT SUTTON • SUMMER SWAINE • JON SWARTS • DERRICK SWIFT • JANSEN SZETO • YAN TANG • SANDIP TARAFDAR • WILLIAM TASSO • KERRY TAYLOR
RANDALL TEAGUE • DANIEL TECZAR • WILLIAM TEES • MICHAEL TERAULT • LILLU TESFA • ELAINE THAMES • STEPHEN THAYER • ERIKA THEISING • PETER THOENNES • CATHY THOMAS • JOHN THOMAS • MICHAEL THOMAS • TIONA THOMPKINS
DONNA THOMPSON • JASON THOMPSON • TODD THOMPSON • KENNETH THURMAN • MICHELLE TIBURCIO • STEPHEN TIILIKAINEN • JILL TIMBERLAKE • GUILLERMO TOLENTINO • RONALD TOUSSAINT • RUTH TOWERS • EDWARD TRAMMEL
ANDREA TRAN • TRENT TRAPP • THANG TRUONG • JAMES TUCKER • SMITHA TUMULURI • MILDRED TURNER • TARA TURNER • STEVEN TUTTLE • SHARON ULRING • REBECCA UPDIKE • OLIVER URCIA • MURALI VADLAMUDI • CYNTHIA VAHINY
ERIKA VAN HINTUM • JODI VARNESE • KATHLEEN VEAUDRY • RAJIV VERMA • ROSE VERONES • THOMAS VIRGILIO • NICHOL VITTITOW • PATRICIA VULLO • THOMAS WADE • DANIEL WAGNER • MICHAEL WAGNER • TRAVIS WALDEN • JAMES WALKER
KAMYA WALKER • DAMIAN WALLACE • TAMARA WALTERS • JARETTA WALTHER • BRIAN WALTON • HUAN WANG • CHERYL WARE • HELEN WARREN • PRESTON WASHINGTON • JEFFREY WATKINS • LAKESHA WEAVER • JAMES WEEDON
WILLIAM WELLS • WILLIAM WENTLING • CRAIG WESTON • GARY WETHINGTON • JOSEPH WETZEL • KATHLEEN WHALEN • MATTHEW WHATLEY • DEAN WHEELWRIGHT • GINA WHITAKER • DANIEL WHITE • ERIC WHITE • FREDERICK WHITE
JENNIFER WHITE • SANDRA WHITWORTH • JERE WIGGINS • HALLIE WILFERT • TRACEY WILKINS-CLARK • BILLY WILLIAMS • DAJUAN WILLIAMS • JAY WILLIAMS • CHAD WILSON • JOHN WILSON • KEVIN WILSON • WILLIAM WILSON • LAURA WINN
KEVIN WINTER • ANNE WITTENBERG • DOWELL WOOD • MARTHA WOOLSON • BRIAN WREN • TRACI WRIGHT • RONALD WUDARCZYK • WENMING XIAO • JAMES YAN • WILLIAM YANEZ • JAMES YATES • JOHN YEARDLEY • SEEMAN YEE • DENNIS YIP
SEAN YOUNKIN • PAUL ZABBO • SAM ZAREMBA • KATHERINE ZINDER • ANNE ZLOTORZYNSKI • 2007 • STEVE ABIOG • DANIEL ABREU • ERNEST ACQUAH • JOSHUA ADAMS • NICHOLAS ADAMS • STANLEY ADDESS • EMMANUEL AKITOBI
HUSSAM AL MUKHTAR • FAWZI AL NASSIR • THEODROES ALEMAYEHU • MIR ALI • TAWNYADA ALLEN • STEWART ALLGOOD • SANDRA AMBROSE • GABRIEL ANDERSON • KIERSTEN ANDERSON • JONATHAN ARANA • ROBERT ARGODALE
KAREN ASHCRAFT • SCOTT AYERS • MARK BACON • ROZIIN BADEGES • MARK BAIRD • SIVA BANDI • ERIN BARTON • DAVID BASSETT • NAVEEN BATHULA • ERIC BAUER • JOSEPH BAUER • GERRINA BAUGH • AMAN BAVEJA • CHARLENE BEAMAN
KEVIN BEARDEN • MICHELE BEDARO-PECK • JOHN BEEMAN • MICHAEL BENNETT • QUENTANELLA BENOIT • CLIFFORD BENTLEY • NILESH BHUT • JENNIFER BIBLE • CHRISTOPHER BIRCH • PHYLLIS BIRCKHEAD • JEFFREY BISCH • ALICE BLACKBURN
RICHARD BLAIR • CHARLES BLAKE • YVETTE BLAKE • NATALIE BOEHMER • MICHAEL BOENSEL • RACHEL BOWMAN • GREGORY BOYD • MICHAEL BRADLEY • MICHAEL BRENNAN • PATRICIA BRENNAN • DARCIE BRICKNER • LAFONDRA BROWN
EBONY BROWN-BUNKLEY • JEAN BRYAN • WILLIAM BUCCI • LORRAINE BUCKWALD • DALE BUNGER • BRIAN BURBRIDGE • CASEY BURNS • SCOTT BUSHEY
CRAIG CALHOUN • EDWARD CALIMAG • TENISE CANNON • MELANIE CARGILE • THOMAS CARNAHAN • RICHARD CARRICK • VALIANT CARTER
DOUGLAS CARTWRIGHT • MELISSA CHAMBERLIN • DAVID CHANDLER • TRACY CHEN • YAN CHEN • JOHN CHENEY • FREDRICK CHOATE • KYU CHOI
SAMAL CHOWDHURY • SOHANA CHOWDHURY • NANCY CHUON • CURTIS CLARK • GRETCHEN CLARK • DEMEIKA CLARY • JAMES COFFMAN • SUSAN COLEMAN
GARY COLLEY • DERRICK COLLIER • EVELYN COLLINS • TONI COLSON • MARK CONNEL • GLORIA CONTRERAS • DAGOBERTO CORDOVA • FINNIAN CORNELISON
JAMES CORWITH • ALYSSA COWDEN • JUSTIN COX • STEPHEN COX • EDWARD COYLE • JENNIFER CREAGER • MARY CROUCH • DANIEL CRUZ
RONALD CYPERT • KEVIN DAI • ANUSHA DANDA • BRUCE DANET • ERIC DANN • NINA DARLING-BENNETT • SHARYN DAVENPORT • DALE DAVIDS
JOHN DAVIS • LYNN DAVIS • SCIPIO DE KANTER • JUDE DECOTEAU • JOANNE DEGNAN • GIOVANNI DEMONTE • WILLIAM DENNISON                                           Tom Hampton
CHRISTOPHER DERBY • LINDA DEVEAUX-REID • KOUSALYA DHANDAPANI • JAMES DIMEO • CHARISE DITALO • ANN DO • CHRISTOPHER DOBBERTEAN
BRIAN DONNELLY • STEVEN DUKES • WAYNE DUPREE • JAYENDRAN DURAIKKANNAN • SUKUMAR DWARKANATH • JEFFREY DYOTT • SUSAN EDDY                                      Software Architect
NAPOLEON EDWARDS • THEODORE EDWARDS • OKECHUKWU EKE • JAMES ELLIOTT • KEVIN ELLIOTT • MICHAEL ERDELY • IRA EVANS
LAUREN EYTCHISON • DAMON FARKAS • TODD FAZEKAS • JOEL FEDORKO • DEWITT FEESER • DENNIS FELT • RYAN FELTS • KAYE FINNEY
PATRICIA FITZGERALD • ERIK FLODEN • DAVID FLOWER • AARON FOGLE • DEMARCO FORD • RYAN FORNEY • JAIME FRANÇOIS
HARRY FRAZIER • DAVID FREEMAN • JUSTIN FRIEDMAN • MARION FROSHOUR • QINGLAN FU • GLENN FUKUSHIMA • DANEE GAINES ADAMS
MATTHEW GALLAGHER • ALVARO GARCIA • SCOTT GARDNER • JESSE GATCHALIAN • CHRISTOPHER GEIL • LINDSEY GILL • PETER GILLIS
SAMUEL GIORDANO • CARL GLADDEN • DAVID GLADDEN • SUSAN GODARD • JASON GOLDWATER • MICHAEL GOLIHAR • DEAN GORDON
KAY GOSS • JESUS GRAVE DE PERALTA • AARON GRAY • WILLIAM GREENLEAF • JEFFERSON GROSSO • CHRISTOPHER GROTH
DANNY GROVE • GREGORY HALES • SHERAN HARPER-CANN • CANDACE HARTLEY • IRFAN HASNAT • SYED HASSAN
CHARLES HATTABAUGH • JUDITH HAVEL • MIA HAYES • MICHAEL HAYES • MARK HEIN • NINA HENDERSON • BRIAN HENRY
KAREN HERTEL • MICHAEL HILDEBRAND-FAUST • RACHELLE HILL • TERRON HILL • TRANG HO • PEGGY HOLLAND • TIMOTHY HOLMES
JONATHAN HOSKOTE • PHI HOU • CHARLES HOWARD • ELIZABETH HOWARD • JOSHUA HULL • KATHARINE HURLEY
AVIANTO IMAN-SANTOSO • TESS JACKSON • MASOOD JAGHORI • NAVEEN JALURIA • RAM JANGLAPALI • RANDALL JANKA
SENTRELL JARRETT • CARY JASGUR • WILLIAM JENKS • BLAIR JEPPESEN • SANDRA JEYARAJ • JENNIFER JOCHUM • BRIAN JOHNSON
CRAIG JONES • DEMETRIC JONES • JOSEPH JONES • SHERRITA JONES • EDWARD JOPECK • JOSEPHINE JORDAN • JIN-MO KANG
SOO KANG • MAKSIM KARASIK • JACOB KAUFMAN-OSBORN • DANIEL KEAGLE • KEVIN KEARNS • KEVIN KELHART • DEBORAH KELLY
IRISH KELLY • SHANNON KELSO • ANN KENNY • JAMIE KENT • VIKRAM KHUSHALANI • STEVEN KING • SUSAN KLAICH
JACQUELINE KLEINSCHMIDT • TIMOTHY KOK • VENKATA KONDAPOLU • ADAM KOROS • OLGA KRIPNER • NICHOLAS KRZYWDA
SANDRA LACROIX • PETER LAMB • JOHN LAU • ADRIANE LEWIS • KAREN LEWIS • JANNA LIPMAN • TIMOTHY LIVESAY
SETH LOEWENBERG • MICHAEL LOMBARD • KIM LONGO • JOHN LOVEGROVE • RANDALL LOVELL • ANTHONY LUEDDEKE
CIRCE LUNKINS • CLARK LUSTER • DAVID LYONS • WILLIAM LYSINGER • YONGGANG MA • BENJAMIN MADDOX • KARAN MAHAFFEY
ALLEN MALAVE • SABRINA MALKANI • CATHERINE MARTIN • DARREN MASHBURN • DAMEIL MASON • ROBERT MASSEY
TERRI MASTERS • SARAH MAYNE • JEFFREY MCANANY • PAUL MCCLELLAN • DANNY MCCONNELL • JOHN MCCROCKLIN
PATRICK MCDERMOTT • JAYME MCKINLEY • JOHN MCNULTY • JANIS MCNUTT • TIMOTHY MEDLOCK • ERIC MEYER
RHONDA MICHAELS • RICHARD MILLER • TIFFANY MILLER • ALLAN MILLINGTON • ALLAN MINK • NIRMAL MITTAL • SONIKA MOHAN
SUPRIYA MOHITE • RICHARD MONTCALM • ERIKA MONTGOMERY • FORREST MOONEY • CURTIS MOORE • DAWNYELLE MOORE
KATHERINE MOORE • ABDUL MOSES • SABRINA MOSES • MICHELLE MOULLIET • CLINTON MOUREAU • DONALD MOZLEY
PATRICK MUCKERMAN • KELLY MULLEN • ABDULLAH MUNAWAR • MEGHAN MURPHY • NICHOLAS MURRAY • CARYN NADDEO
DANISH NAGPAUL • JASON NAGY • AMIT NANGIA • BRIAN NEAL • EUGENE NELSON • GARY NELSON • MICHAEL NELSON
KIM NGUYEN • NGHIA NGUYEN • BRUCK NIGUSSE • ALENA NIKITSINA • MICHAEL NORMAN • SCOTT NYCUM • JOHN O’KEEFE
ALAN O’NEIL • MICHAEL O’NEILL • JENNIFER OKADA • LOUIS ORTIZ • LISA OWENS • VALERY OWENS • KHUSHBOO PARIKH
JOHN PARK • SEUNG PARK • RAY PARTNER • ANTHONY PAULEY • CANDICE PEACOCK • THEODORE PEARCE • LAURA PEARD
JOSEPH PEMBERTON • ROBERT PEVLER • LUAN PHAM • NGAN TAM PHAM • RICHARD PHILLIPS • ABE PHROMMANY
SUZANNE PIMM • ADAM PLATTNER • ANDREW POAST • STEVEN POKALLUS • MATTHEW POPE • DANIELLE PORAK DE VARNA
MICHAEL PORTER • MARK POTTER • GANJIGUNTE PRASAD • KATHERINE PRESTON • CHARLES PUCHALA • RAMESHKUMAR PUNNA
MATTHEW QUEIOR • SHAWNIE QUIGLEY • JAMALUR RAHMAN • FERNANDO RAMOS • SURASUK RATANA • ARUN RAVINDRAN
ROBERT RAY • JENNIFER REISINGER • REGINALD REYNOLDS • XAVIER RICHARD • JEFFERY RICHARDSON • GARY RICKETTS
MICHAEL RITTER • JENELLE ROBERTS • FANNIE ROBERTSON • SEAN ROBINSON • MICHAEL ROBISON • ERIC RODRIGUEZ
KENNETH RORRER • ANNA ROSENTHAL • SUSAN ROSS-O’BRIEN • JONATHAN ROUSE • ZETHYN RUBY • RAMAKRISHNAN SABAPATHY
DOUGLAS SACKIN • THOMAS SAFFELL • KENNETH SANDLIN • VALERIA SARBU • EMILY SARGENT • KATHLEEN SARRAN
TONI SAUCER • ADRIENNE SAYLOR • VINCENT SCANNELLI • CHRISTOPHER SCHMIDT • CYNTHIA SCHOEPPEL • ELIEZER SCHWARZ
KEVIN SCOTT • LOGAN SEASE • CARMEN SEMINARIO • TODD SERVELLO • BHAVIN SHAH • TAUQIRE SHAH • NEETU SHARMA
D’ANN SHERWOOD • ELVIS SHIELDS • NANCY SHOWALTER • RUPAM SHRIMALI • WLODEK SIEBOR • SAMUEL SIMPLICIANO
GUATAM SINGH • MICHAEL SINISI • CHRISTOPHER SKENA • ROBERT SKLUT • STANTON SLOANE • ALAN SMITH • JARED SMITH
JENNIFER SMITH • PATRICE SMITH • SHEILA SMITH • WAYNE SMITH • HOPE SOLOMON • SCOTT SOLOMON • JENNIFER SONDHEIMER
SARA SOUSA • ADAM SPIRER • ARTHI SRINIVASAN • ATHENA STARRY • SCOTT STEPHENS • SARAH STERNS • SYLVIA STEVENSON
JOHN SULLIVAN • BARRETT SUMMERLIN • PATRICIA TABOURN • NEIL TAUZIN • MICHAEL TAYLOR • MARIE TEUFEL • EVERETT THOMAS
SILPA THOTAKURA • THEOPHILUS TIMITY • GEORGE TONEY • MARIA SUSANA TORRES • TAMARA TOWNSEND • YVETTE TRAPANI
ASHLEY TREMAINE • JOSEPH TRUJILLO • MENG TSAI • WILLIAM TYNDALL • ANDY VAUGHAN • BABU VEERAMACHANENI • MICHELE VIARS
TRACH VO • JASON WAGNER • JOSEPH WALLNER • DAVID WALTHER • JEANNE WANG • NICKYRA WASHINGTON • PAUL WASHLESKY
ADAM WATTS • JUSTIN WEIDEMANN • BRIAN WEIK • SHERI WEPPEL • PHILLIP WHITE • SHAWN WHITTEMORE • DARREN WIGGINS
DEREK WILBORN • DOLPHENE WILLIAMS • JONAH WILLIAMS • TAMARA WILLIAMSON • MARK WILLOUGHBY • JAMES WILSON • LYDIA WILSON
ANDREA WINSTEAD-BERRY • CLABE WRIGHT • ZANE WRIGHT • KATHLEEN WU • LIAN XIAO • MILENA YANG • SANDRA ZELENSKY
YU ZHANG • YANG ZHENG • JIAN ZHOU • MING ZHOU • SHELLY ZOCCHI




An Equal Opportunity Employer, M/F/D/V/SO

Geollect is a trademark of SRA International, Inc. DocMatcher, GangNet, NetOwl, and ORIONMagic are registered trademarks
of SRA International, Inc. SRA, the SRA logo, SRA International, Inc. and Honesty and Service are registered trademarks and
registered servicemarks of SRA International, Inc. All other company, brand, or product names mentioned herein are or may
be trademarks or registered trademarks of the company with which they are associated.

Copyright 2007, SRA International, Inc. All rights reserved.

Photos courtesy of Departments of Agriculture, Air Force, and Defense; and Research in Motion. Photos of SRA employees by
Rick Steele and Bob Merhaut.
31 | SRA International, Inc.


BoARd of diRECtoRS
Dr. Ernst Volgenau                                      Larry R. Ellis 2                             David H. Langstaff                         Dr. Gail R. Wilensky 2
Chairman, Founder,                                      President & CEO,                             Former President and CEO,                  Economist & Senior Fellow,
and Former CEO,                                         DHB Industries;                              Veridian Corporation; Co-Chairman          Project HOPE; Former Administrator,
SRA International, Inc.                                 General, U.S. Army (Retired)                 and CEO, The Olive Group                   Health Care Financing Administration;
                                                                                                                                                Chair, MedPAC
John W. Barter 1, 3                                     Miles R. Gilburne 1, 3                       Dr. Stanton D. Sloane
Former Chief Financial Officer,                         Retired Senior Vice President,               President & CEO,                           Committee Memberships
AlliedSignal, Inc.; Former President,                   America Online; Managing Member,             SRA International, Inc.                    1 - Audit and Finance
AlliedSignal Automotive                                 ZG Ventures, LLC                                                                        2 - Compensation and Personnel
                                                                                                     Delbert C. Staley 1, 2                     3 - Governance
Dr. Renato A. DiPentima                                 Michael R. Klein 3                           Retired Chairman & Chief Executive
Former President & CEO, SRA International,              Chairman, CoStar Group, Inc.;                Officer, NYNEX; Chairman,
Inc.; Former Deputy Commissioner,                       Vice Chairman, Perini Corporation;           TVG Capital Partners Ltd.
Social Security Administration                          Chairman, Sunlight Foundation


diRECtoRS EmERiti
William K. Brehm                                                                             Edward E. Legasey
Chairman Emeritus, SRA International, Inc.; Chairman, The CNA Corporation;                   Director Emeritus and Former Executive Vice President &
Trustee and Past Chairman, Fuller Theological Seminary                                       Chief Operating Officer, SRA International, Inc.


CoRpoRAtE offiCERS
Dr. Ernst Volgenau                      Dr. Scott W. Bennett                 Mike D’Andrea                        Karl R. Gumtow                        John M. Miller
Chairman                                Director, Research &                 Director, Homeland Security          Director, Intelligence and Space      Director, Operations,
                                        Development                          and Law Enforcement,                                                       Touchstone Consulting Group
Dr. Stanton D. Sloane                                                        Orion Center                         Max N. Hall
President & CEO                         Dr. Hatte R. Blejer                                                       Deputy Director, Civil Sector         David G. Page
                                        Director, Technology Strategy        John R. Dankowski                                                          Enterprise Solutions
Stephen C. Hughes                       for Information Sharing and          Director, National Contingency       Donald J. Hirsch
Chief Financial Officer and             Homeland Security                    Programs and Strategies              Director, Financial and               Giovanna S. Patterson
Executive Vice President,                                                                                         Government Operations                 Director, Acquisition Integration
Operations                              Charles D. Brooks                    Allen H. Deitz
                                        Government Affairs                   Director, Strategic Initiatives,     Anna M. Hogan                         Kenneth A. Rohrer
Barry S. Landew                                                              Defense Sector                       Director, C4ISR Center                Deputy Director, Financial and
Executive Vice President,               Robert A. Burciaga                                                                                              Government Operations
Strategic Development                   Deputy Director, Operations,         Anne M. Donohue, Esq.                Jill Yacone Hopper
                                        Integrated Solutions                 Chief Legal Officer                  Government Relations                  Gregory A. Roman
                                                                                                                                                        Director, Remote Sensing
Senior Vice Presidents                  Melissa A. Burgum                    Dr. Michael K. Duffy                 Martha N. Johnson                     Programs
                                        Corporate Controller                 Financial Management                 Director, Civilian Agencies,
Timothy J. Atkin                                                                                                  Touchstone Consulting Group           Carl B. Rosenblatt
Director, Civil Sector                  Timothy A. Campen                    Donald E. Edwards                                                          Director, Proposal Development
                                        Director, Orion Center               Director, National Guard             James H. Jones
Patrick Burke                                                                                                     Enterprise Data Architecture          Judith K. Sakowitz
Director, C3I Sector                                                         Bureau AITS
                                        Gene N. Cartier                                                                                                 Quality Systems Officer
                                        Infrastructure Engineering           Michele A. Engelhart                 David F. Keffer
Michael M. Fox                                                                                                    Investor Relations                    Cindy C. Shephard
Director, Marketing & Sales                                                  Director, Defense Business
                                        Daniel J. Chenok                     Development                                                                Controller, Civil Sector
                                        Director, Business Technology                                             Herbert C. Kemp
John M. Gilligan                                                                                                  Director, C4ISR Operations,           Sonu Singh
Director, Defense Sector                Offerings                            Dennis G. Evans
                                                                             Deputy Director, Customer            C4ISR Center                          Director, SRA Spectrum
Jeffrey B. Westerhoff                   Bernard A. Cohen                     Relations, Integrated Solutions                                            Solutions Group
                                        Civil Agency Business                                                     Stuart L. Kramer
Director, Government-Wide                                                                                         Business Program Manager,             Jennifer E. Smith
Acquisition Contracts                   Development                          Kevin J. Fagan
                                                                             Director, Command and                Health Care Systems                   Deputy Director,
                                        Mary Ellen Condon                    Operations Solutions                                                       Marketing and Sales
                                        Director, Strategic Initiatives                                           Mark I. Leaman
Vice Presidents
                                                                             Michael B. Fisher                    Director, Process and                 Thomas E. Snyder
Dr. Chinatsu Aone                       David M. Conetsco                    Director, Mergers &                  Knowledge Management                  Director, Tactical
Director, Natural Language              Deputy Director, Intelligence        Acquisitions                                                               Communications Systems
                                        and Space                                                                 John M. Luongo
Technology
                                                                             Eugene S. Frank                      Director, Capture Strategy            Thomas A. Summerlin
Craig Bambrough                         Mark D. Connel                       Director, Defense                                                          Managing Director, Consulting,
                                        Executive Director, Contracts                                             Bryan Maizlish                        Touchstone Consulting Group
Deputy Director,                                                             International Initiatives
                                        and Procurement                                                           Director, Advanced Programs
Technology Solutions
                                                                             Bruce A. Gilbert                     and Chief Innovation Officer          Stephen M. Tolbert
Kakali Banerjee                         Dr. Timothy W. Cooke                 Director, Security and Systems                                             Director, Financial Oversight
                                        Director, Strategic Initiatives,                                          Jim McClave                           Business Programs
Business Program Manager,                                                    Engineering Solutions
                                        Environmental and Organiza-                                               Deputy Director, C3I Sector
International Development and
                                        tional Services                      Ronald E. Gornto                                                           Peter B. Trick
Diplomatic Solutions Program                                                                                      John J. McGrath
                                                                             Director, Technology Solutions                                             Director, Environmental and
                                        Brian W. Cross                                                            Director, Transportation Safety       Organizational Services
Robert A. Baruch
                                        Program Manager,                     Kevin D. Graves                      and Technologies
Director, C3I Emerging Markets
                                        GuardNet XXI                         Director, Asset Management                                                 Craig P. Weston
                                                                                                                  Danny R. Michael                      Deputy Director, C4ISR Center
William H. Bell
                                        Charles G. Crotty                                                         Director, Integrated Solutions
Director, Information Assurance
                                        Director, Corporate Compliance                                            and Systems Support                   Michael L. Yocom
and Privacy Solutions
                                                                                                                                                        Director, Integrated Solutions
StoCkholdeR
InfoRmAtIon
Stock Listing                                             Additional Information
sra international, inc. is traded on the new york stock   the sra Web site (www.sra.com) contains valuable
exchange under the symbol srX.                            information, such as financial results, corporate news
                                                          releases, and management profiles. inquiries for
                                                          additional investor information should be directed to:
Stockholder Services
                                                          david Keffer
all questions concerning registered stockholder
                                                          vice President, investor relations
accounts and stock transfer matters, including name
                                                          (703) 502-7731
or address changes and transfers, should be directed
                                                          investor@sra.com
to our transfer agent and registrar:
american stock transfer and trust company                 Certifications
59 Maiden lane
new york, ny 10007                                        sra international, inc. has filed with the u.s. securities
(800) 937-5449                                            and exchange commission the annual certifications
www.amstock.com                                           required by rule 13a-14(a) of the securities exchange
                                                          act of 1934 as exhibits 31.1 and 31.2 to the company’s
                                                          annual report on Form 10-K for the fiscal year
Independent Auditors                                      ended June 30, 2007. additionally, in 2006, the chief
deloitte & touche llP                                     executive officer submitted an annual certification to
1750 tysons Boulevard                                     the new york stock exchange (nyse) stating that he
Mclean, va 22102                                          was not aware of any violation of the nyse corporate
                                                          governance listing standards by the company.

Annual Meeting
the annual meeting of stockholders will be held in
october 2007. For additional information, please visit
the investor relations section of the sra Web site
(www.sra.com).


Annual Report on Form 10-K
stockholders may obtain without charge a copy of the
sra annual report on Form 10-K, as filed with the
securities and exchange commission, by writing to:
sra international, inc.
investor relations
4300 Fair lakes court
Fairfax, va 22033
                       Headquarters
                       4300 Fair lakes court
                       Fairfax, va 22033
                       tel. 703.803.1500
                       Fax 703.803.1509
                       www.sra.com




Offices                durham, nc                newport news, va
alexandria, va         eatontown, nJ             new york, ny
arlington, va          egg Harbor township, nJ   Panama city, Fl
atlanta, Ga            Fairfax, va               Portsmouth, nH
Baltimore, Md          Falls church, va          reston, va
Boston, Ma             Fayetteville, nc          rockville, Md
chesapeake, va         Fort Walton Beach, Fl     sacramento, ca
college Park, Ga       Hatboro, Pa               san antonio, tX
colorado springs, co   Herndon, va               san diego, ca
columbia, Md           Jacksonville, Fl          seattle, Wa
dayton, oH             Kingstowne, va            shrewsbury, nJ
                       landover, Md              st. louis, Mo
                       lexington Park, Md        Warner robins, Ga
                       newport Beach, ca         Washington, dc

				
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