SAIC: Fiscal 4Q Earnings Snapshot

March 26, 2020 GMT

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.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SAIC at https://www.zacks.com/ap/SAIC