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SAIC’s Earnings Fall As Sales Edge Up

Defense Daily Staff Defense Daily Staff
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SAIC [SAI] last Thursday reported lower first quarter net income, although the company managed to grow its sales in the face of a contracting government services market. Net income fell nearly 11 percent to $117 million, 35 cents earnings per share, from $131 million (36 cents EPS) a year ago. Per share earnings were barely down due to share repurchase activity. The results topped consensus estimates by two cents. Higher indirect spending, particularly on bid and proposal costs, an $8…

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