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SAIC Posts Flat Earnings Despite Higher Sales In First Quarter

Cal Biesecker By
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SAIC Posts Flat Earnings Despite Higher Sales In First Quarter
SAIC CEO Tony Moraco

Science Applications International Corp. [SAIC] on Tuesday posted mixed results to open its new fiscal year as earnings were level in the first quarter despite higher sales.Net income was $49 million in the quarter, same as a year ago, although earnings per share (EPS) were raised a nickel to $1.13 due to fewer shares of stock outstanding. Sales increased nearly 7 percent to $1.2 billion from $1.1 billion a year ago driven by higher sales on existing supply chain contracts…

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