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Business/Financial

Sales Rise, Earnings Fall At SAIC In Fourth Quarter

By Cal Biesecker

Tuesday, March 29th, 2016

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Sales Rise, Earnings Fall At SAIC In Fourth Quarter

SAIC CEO Tony Moraco

Science Applications International Corp. [SAIC] on Tuesday posted higher fourth quarter sales due to an acquisition last year while net income fell on an increase in interest expense and lower operating income.Net income slid 22 percent to $28 million, 60 cents earnings per share (EPS), from $36 million (75 cents EPS), a penny below consensus estimates. Excluding acquisition related expenses per share earnings were 74 cents.Sales in the quarter climbed 13 percent to nearly $1.1 billion from $952 million a…

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