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Earnings, Sales Fall In SAIC’s Third Quarter; Interim CEO Reagan Outlines Priorities

Cal Biesecker By
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Earnings, Sales Fall In SAIC’s Third Quarter; Interim CEO Reagan Outlines Priorities
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Science Applications International Corp. [SAIC] on Thursday posted top and bottom-line declines in its third quarter although the company increased its sales guidance due to new acquisition and its adjusted earnings outlook on improved performance and a lower tax rate. Net income in the quarter ended Oct. 31 slid 26 percent to $78 million, $1.69 earnings per share (EPS), from $106 million ($2.13 EPS) a year ago. Excluding acquisition, integration, restructuring and impairment costs, adjusted earnings of $2.58 EPS were…

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