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Sales, Earnings Dip Slightly At SAIC In Second Quarter

Cal Biesecker By
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Sales, Earnings Dip Slightly At SAIC In Second Quarter
SAIC CEO Tony Moraco

Science Applications International Corp. [SAIC] last Thursday posted a slight dip on both sales and net income in its second quarter as revenue declined on contract completions, a contract loss, and reduced work on some contracts.Net income in the quarter was down 3 percent to $36 million, 80 cents earnings per share (EPS), from $37 million (81 cents EPS) a year ago, and fell short of consensus estimates by a dime. Operating margin slipped 90 basis points to 5.5 percent.Sales…

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