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SAIC: Fiscal 3Q Earnings Snapshot

SAIC: Fiscal 3Q Earnings Snapshot

Associated Press

RESTON, Va. (AP) _ Science Applications International Corp. (SAIC) on Thursday reported fiscal third-quarter profit of $48 million.

On a per-share basis, the Reston, Virginia-based company said it had net income of $1.11. Earnings, adjusted for costs related to mergers and acquisitions, came to $1.35 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.

The information technology company posted revenue of $1.18 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.16 billion.

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SAIC shares have decreased 15 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $64.96, a decline of 11 percent in the last 12 months.

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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