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SAIC Ends Fiscal Year With Solid Fourth Quarter

Cal Biesecker By
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SAIC Ends Fiscal Year With Solid Fourth Quarter
SAIC CEO Tony Moraco

Science Applications International Corp. [SAIC] on Tuesday posted solid fourth quarter results with net income and sales both higher than a year ago even though the federal government is still taking longer to make awards.Net income increased 9 percent to $36 million, 75 cents earnings per share (EPS), from $33 million (66 cents EPS), topping consensus estimates by four cents per share. The increase was due to higher operating margins and lower tax expense due to the retroactive reinstatement of…

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