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SAIC Posts Higher Income, Sales In First Quarter

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By Calvin Biesecker SAIC [SAI] last Thursday reported higher income and sales in the first quarter driven by lower taxes, the favorable resolution of some tax uncertainties, and acquisitions. Net income rose 8 percent to $125 million, 32 cents earnings per share (EPS), versus $116 million (28 cents EPS) a year ago, topping consensus estimates by a penny. EPS results improved in part due to a lower share count stemming from a stock repurchase program. Operating results included a $3…

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