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Earnings, Sales Fall At SAIC In Fourth Quarter On Shutdown, Enterprise IT Headwinds

Cal Biesecker By
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Earnings, Sales Fall At SAIC In Fourth Quarter On Shutdown, Enterprise IT Headwinds
SAIC CEO James "Jim" Reagan. Photo: SAIC

Science Applications International Corp. [SAIC] on Monday posted lower earnings and sales in its fourth quarter stemming from the federal government shutdown last fall, a shift away from commoditized enterprise information technology (IT) work and procurement delays. The results were inline with an updated financial forecast SAIC provided in February (Defense Daily, Feb. 11). Sales in the quarter fell 5 percent to under $1.8 billion from over $1.8 billion a year ago. Net income dropped 13 percent to $85 million,…

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