SAIC: Fiscal 1Q Earnings Snapshot
RESTON, Va. (AP) _ Science Applications International Corp. (SAIC) on Thursday reported fiscal first-quarter earnings of $55 million.
The Reston, Virginia-based company said it had net income of 92 cents per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to $1.36 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The information technology company posted revenue of $1.62 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.61 billion.
SAIC shares have risen 24% since the beginning of the year. The stock has dropped almost 10% in the last 12 months.