SAIC: Fiscal 3Q Earnings Snapshot

December 3, 2020 GMT

RESTON, Va. (AP) _ Science Applications International Corp. (SAIC) on Thursday reported fiscal third-quarter net income of $60 million.

The Reston, Virginia-based company said it had profit of $1.02 per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, were $1.62 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.

The information technology company posted revenue of $1.82 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $1.83 billion.


SAIC expects full-year earnings in the range of $5.95 to $6.05 per share, with revenue in the range of $7.1 billion to $7.15 billion.

SAIC shares have climbed almost 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $94.68, a rise of 13% 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