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SAIC’s Earnings Dip In First Quarter On Acquisition, Contract Overrun

Cal Biesecker By
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SAIC’s Earnings Dip In First Quarter On Acquisition, Contract Overrun
SAIC CEO Tony Moraco

 Science Applications International Corp. [SAIC] on Tuesday posted slightly higher sales in its opening quarter but net income edged down due to costs associated with its recent acquisition of Scitor and because of a charge on a small Army contract.Net income slipped 3 percent to $33 million, 69 cents earnings per share (EPS), from $34 million (69 cents EPS) a year ago, 6 cents EPS below analysts’ expectations. Per share earnings held steady due to a lower share count from…

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