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SAIC Reports Flat Earnings Despite Higher Sales In First Quarter

SAIC Reports Flat Earnings Despite Higher Sales In First Quarter
SAIC CEO Tony Moraco

Science Applications International Corp. [SAIC] on Monday reported first quarter net income that was in line with a year ago while sales increased due to an extra week in the quarter and last year’s acquisition of Scitor.Net income was $33 million, 71 cents earnings per share (EPS), level with a year ago. Per share earnings a year ago were 69 cents. SAIC’s operating income in the quarter was higher but an increase in interest expense wiped out the gain to…

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