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SAIC Posts Steep Decline In Earnings On Slight Sales Gain In Second Quarter

Cal Biesecker By
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SAIC Posts Steep Decline In Earnings On Slight Sales Gain In Second Quarter
Toni Townes-Whitley, SAIC's CEO. Photo: SAIC.

Science Applications International Corp. [SAIC] on Thursday reported a steep decline in net income in its second quarters versus a year ago when the company benefited from the sale of a business while sales were up slightly on gains in both operating segments. Net income fell 67 percent to $81 million, $1.58 earnings per share (EPS), from $247 million ($4.56 EPS) a year ago. Excluding the gain from the sale of the former supply chain business, which added $234 million…

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