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Business/Financial

SAIC’s First Quarter Income, Sales Fall On Weakness In Defense, Intel Business

Defense Daily Staff

Wednesday, June 5th, 2013

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SAIC [SAI] on Monday reported lower first quarter earnings and sales due to declines in its defense and intelligence related business, results that were in line with its expectations. Net income tumbled 31 percent to $81 million, 23 cents earnings per share (EPS), from $117 million (35 cents EPS), shy of consensus estimates by three cents EPS. The decline in income was mainly attributable to expenses associated with the pending split of SAIC into two separate companies. SAIC’s National Security…

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