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Lower Taxes Help Boost SAIC To Strong Earnings In Fourth Quarter

By Cal Biesecker

Thursday, March 29th, 2018

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Lower Taxes Help Boost SAIC To Strong Earnings In Fourth Quarter

SAIC CEO Tony Moraco

Science Applications International Corp. [SAIC] ended its fiscal year with strong earnings in the fourth quarter driven largely by lower taxes and to a lesser extent by higher operating income.Net income soared 46 percent in the quarter to $51 million, $1.16 earnings per share (EPS), from $35 million (77 cents EPS) a year ago. Operating margins slipped 30 basis points to 5.5 percent due to lower favorable contract adjustments.Sales increased 10 percent to $1.1 billion from $1 billion, with all…

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