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CityTime Provision Sends SAIC’s Fourth Quarter Results Down

Defense Daily Staff Defense Daily Staff
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SAIC [SAIC] on Tuesday reported lower sales and a loss in earnings in its fourth quarter largely due to a settlement related to the company’s automated workforce management contract with New York City. Despite the sour end to its fiscal year 2012, SAIC initiated a quarterly dividend of 12 cents per share and also announced a new share repurchase program of up to 40 million shares. The start of a dividend payment coincides with SAIC’s new CEO taking the helm…

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