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SAIC’s Fourth Quarter Income, Sales Tumble

Cal Biesecker By
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SAIC’s Fourth Quarter Income, Sales Tumble
SAIC CEO Tony Moraco

Science Applications International Corp. [SAIC] on Tuesday posted double-digit declines in its fourth quarter earnings and sales due to the loss of a contract, the drawdown of military operations in Afghanistan, and the completion of work on an Army contract. Net income fell 23 percent to $33 million, 66 cents earnings per share (EPS), from $43 million (87 cents EPS) a year ago while operating margins actually climbed 60 basis points to 6 percent. Earnings topped consensus estimates by a…

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