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SI International 1Q profit falls on higher costs

By Associated Press
April 29, 2008 | Comments (0)

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Business software and computer network developer SI International Inc. said Tuesday its fiscal 2008 first-quarter profit fell 27.7 percent on higher costs.

Net income fell to $3.4 million, or 26 cents per share, from $4.7 million, or 36 cents per share, in the 2007 first quarter.

Sales rose 18.2 percent to $134.4 million from $113.7 million last year.

Analysts polled by Thomson Financial expected profit of 25 cents per share on sales of $128.7 million. Analysts typically exclude one-time costs and gains.

Operating expenses jumped to $126.9 million from $104.5 million last year. The figure includes a rise in the costs of services to $88.3 million from $70.9 million.

Shares in Reston, Va.-based SI fell $1.14, or 4.9 percent, to $22.11 in afternoon trading. They have traded in the past year between $18.85 and $34.87.

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