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Business/Financial

SAIC Posts Lower Earnings, Higher Sales In First Quarter

By Cal Biesecker

Monday, June 6th, 2022

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SAIC Posts Lower Earnings, Higher Sales In First Quarter

SAIC CEO Nazzic Keene. Photo: SAIC

Science Applications International Corp. [SAIC] on Monday reported lower earnings on higher indirect costs in its first quarter of 2023 despite a solid increase in sales. Net income fell 11 percent to $73 million, $1.29 earnings per share (EPS), from $82 million ($1.38 EPS) a year ago. Adjusted earnings, which include acquisition, integration and restructuring costs, were $1.88 EPS in the quarter, 11 cents ahead of consensus estimates. Sales increased 6 percent to $2 billion from $1.9 billion a year…

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