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SAIC Posts Strong Fourth Quarter Earnings Despite Dip In Sales

Cal Biesecker By
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SAIC Posts Strong Fourth Quarter Earnings Despite Dip In Sales
SAIC CEO Tony Moraco

Science Applications International Corp. [SAIC] on Thursday reported strong earnings in its fourth quarter despite a modest decline in sales.Net income jumped 29 percent to $36 million, 79 cents earnings per share (EPS), from $28 million (60 cents EPS) a year ago, topping consensus estimates by a penny. Earnings benefited from lower expenses in acquisition and integration, taxes and interest.Sales fell 4 percent to just over $1 billion from just under $1.1 billion a year ago. The company attributed the…

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