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SAIC Posts Strong Earnings In Third Quarter

By Cal Biesecker

Thursday, December 8th, 2016

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SAIC Posts Strong Earnings In Third Quarter

Charles Mathis, SAIC's chief financial officer. Photo: SAIC

Science Applications International Corp. [SAIC] on Thursday reported strong net income in its third quarter due largely to program performance whiles sales dipped slightly.Net income rose 24 percent to $42 million, 91 cents earnings per share (EPS), from $34 million (72 cents EPS) a year ago, topping consensus estimates by seven cents per share. Operating margins rose a percent to 6.6 percent.SAIC attributed the strong earnings to program execution and a lower tax rate, which was due to increased research…

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