SAIC: Fiscal 2Q Earnings Snapshot

September 2, 2020 GMT

RESTON, Va. (AP) _ Science Applications International Corp. (SAIC) on Wednesday reported fiscal second-quarter profit of $51 million.

On a per-share basis, the Reston, Virginia-based company said it had net income of 87 cents. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, were $1.63 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.

The information technology company posted revenue of $1.76 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $1.79 billion.


SAIC expects full-year earnings in the range of $5.80 to $6.10 per share, with revenue in the range of $7.1 billion to $7.2 billion.

SAIC shares have declined slightly more than 2% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $84.96, a decrease of almost 4% 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