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Stanley is a company that I owned some shares of last year and sold last year. Stanley turned out to be one of my best holdings and I had kind of forgotten about it. I happened to run up on SXE last night while doing some research and after reading the news on SXE,they have been busy and I think the company has made some good acquisitions.
SXE provides information technology(IT) and a vast array of other services mainly to the U.S.goverment and it's agencys.SXE is based in Arlington,Viginia and currently employs about 3,600 personnel. SXE just announced today they have bought Oberon,which is a engineering intelligence and IT services provider. SXE is estimating Oberon will add around $80 in additional revenue for 2008. In 2007 SXE acquired Techrizon another IT company. In the 4th quarter 2007 SXE signed a 5 year,$570 million contract with the State Department's Bureau of Consular Affairs/Passport Services. SXE was working on this contract last year and they were successful in landing this contract,largest in the company's 42 year history.
On May 14 of this year SXE reported record earnings for the 4th quarter 2008. The 4th quarter revenue was up 49%(39% was organic growth) Y-O-Y to $173 million. Fiscal year revenue for 2008 was up 48%(37% was organic growth) to $604 million.Diluted earnings of .33 cents for the 4th quarter 2008 and $1.12 for fiscal 2008.
Stanley has shown some tremendous growth organically and their acquisitions should be a major source of income for 2009. I think Stanley is a company that can ride these troubling times out better than most company's. Stanley does "Virtually all their business with the Federal government or some agency of the federal government" With the Federal government paying Stanley's bill,I think they are in a very nice situation and I would recommend this company to everyone.
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