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Business/Financial

SAIC Posts Lower Earnings In Second Quarter Amid Flat Sales

By Cal Biesecker

Thursday, September 1st, 2022

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SAIC Posts Lower Earnings In Second Quarter Amid Flat Sales

Prabu Natarajan, chief financial officer of SAIC. Photo: SAIC

Science Applications International Corp. [SAIC] on Thursday reported lower earnings and flat sales in the second quarter of its fiscal year 2023 and the company increased its top and bottom-line guidance based on results through the first two quarters. Net income tumbled 11 percent to $73 million, $1.30 earnings per share (EPS), from $82 million ($1.41 EPS) a year ago. Excluding acquisition, integration and restructuring costs, adjusted earnings of $1.75 EPS in the quarter were 6 cents per share above…

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