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SAIC’s Earnings Rise Despite Flat Sales In Second Quarter

Cal Biesecker By
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SAIC’s Earnings Rise Despite Flat Sales In Second Quarter
SAIC CEO Tony Moraco

Science Applications International Corp. [SAIC] on Thursday posted strong second quarter earnings despite flat sales due to higher operating income and lower taxes.Net income soared 68 percent to $37 million, 81 cents earnings per share (EPS), from $22 million (46 cents EPS) a year ago. Operating margins increased 230 basis points to 6.4 percent as operating income benefited from lower acquisition and integration costs, lower amortization expenses, and lower severance and employee-related costs.Excluding acquisition and integration costs, adjusted per share…

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