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SAIC Posts Higher Earnings, Lower Sales In Second Quarter

Cal Biesecker By
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SAIC Posts Higher Earnings, Lower Sales In Second Quarter
SAIC CEO Tony Moraco

Improved contract performance combined with the lack of restructuring and separation costs related to a corporate split a year ago propelled Science Applications International Corp. [SAIC] to higher earnings despite a drop in sales in the second quarter, the company reported on Tuesday. Net Income soared 36 percent to $34 million, 70 cents earnings per share (EPS), from $25 million (50 cents EPS) a year ago, beating consensus estimates by two cents. Operating margins improved nearly 2 percent to 6.2…

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