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Sales, Earnings Tumble In Third Quarter As SAIC Begins New Era

Cal Biesecker By
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Sales, Earnings Tumble In Third Quarter As SAIC Begins New Era

Science Applications International Corp. [SAIC] on Thursday said its net income and sales fell during its fiscal year 2014 third quarter due to the less work on several contracts and costs associated with its split from the old SAIC. Net income was down 51 percent to $22 million, 44 cents earnings per share (EPS), from $45 million (90 cents EPS) due to $23 million in separation and restructuring costs and lower sales. Operating margins were 3.8 percent, down 240 basis…

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