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Earnings Edge Up At SAIC As Sales Slip

Cal Biesecker By
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Earnings Edge Up At SAIC As Sales Slip
SAIC CEO Tony Moraco

Science Applications International Corp. [SAIC] on Tuesday posted a slight increase in net income in its first quarter despite a double-digit percent dip in sales, but the company is seeing an increase in federal procurement activity. Net income rose 3 percent to $34 million, 69 cents earnings per share (EPS), from $33 million (67 cents EPS), topping consensus estimates by two pennies. Earnings in the quarter suffered from about $1 million in severance expense and a year ago were hampered…

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