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SAIC’s Income Down, Sales Up In Third Quarter

Cal Biesecker By
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SAIC’s Income Down, Sales Up In Third Quarter
SAIC CEO Tony Moraco

Science Applications International Corp. [SAIC] on Wednesday posted higher sales due to its May acquisition of Scitor but net income fell on higher interest expense related to its borrowings to fund the Scitor deal.Net Income slipped 8 percent to $34 million, 72 cents earnings per share (EPS), from $37 million (77 cents EPS) a year ago. Excluding acquisition and integration costs related to Scitor, adjusted earnings were 73 cents EPS, topping consensus estimates by 8 cents per share, and adjusted…

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