SAIC: Fiscal 4Q Earnings Snapshot
RESTON, Va. (AP) _ Science Applications International Corp. (SAIC) on Thursday reported fiscal fourth-quarter net income of $59 million, after reporting a loss in the same period a year earlier.
The Reston, Virginia-based company said it had net income of $1.01 per share. Earnings, adjusted for non-recurring costs, were $1.58 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.
The information technology company posted revenue of $1.54 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $1.57 billion.
For the year, the company reported profit of $226 million, or $3.83 per share. Revenue was reported as $6.38 billion.
SAIC shares have dropped 18% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $71.55, a decline of 3% in the last 12 months.