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SAIC’s Earnings Down, Sales Up In Second Quarter

Cal Biesecker By
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SAIC’s Earnings Down, Sales Up In Second Quarter
SAIC CEO Nazzic Keene. Photo: SAIC

Science Applications International Corp. [SAIC] on Wednesday reported higher second quarter sales due to an acquisition, but earnings fell related to acquisition integration costs and continued impacts from COVID-19. Net income decreased 11 percent to $51 million, 87 cents earning per share (EPS), from $57 million (96 cents EPS) a year ago, with the negative impact from COVID lopping $8 million (10 cents EPS) off the bottom line. Operating margin declined 30 basis points to 5.7 percent. Excluding $15 million…

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