Science Applications International Corp (SAIC): Earnings Beat

SAIC’s business development and cash flow performance were strong

  • Science Applications International Corp (NYSE:SAIC) Q1 net $49 million, or $1.08 per share. Compares to $33 million, or $0.71 per share last year
  • Beats consensus  $1.04 per share
  • Revenue slips 9.1% to $1.10 billion vs. $1.21 billion
  • Net bookings ~$1.3 billion
  • CEO Tony Moraco: “In the first quarter of fiscal year 2018, SAIC’s business development and cash flow performance was strong. The first quarter margins were below expectations due to increased costs and investment on our platform integration programs as we work towards completing Marine Corps prototype vehicles.”
  • InvestorPlace, 2/3/17: 7 Tech Stocks With Explosive Growth Potential:
    • SAIC has been awarded more government contracts than any company in history.
    • SAIC stock trading since September 2013, and has been on a growth path ever since. It has gained momentum in the past year — it’s up 102% in the past 12 months — largely because investors were betting that whoever was elected president in November would start to spend on the military and intelligence communities.
  • SAIC stock down 9.8% at 9:11am in premarket trading, down 4% YTD

 

 


Article printed from InvestorPlace Media, https://investorplace.com/2017/06/science-applications-international-corp-saic-earnings-beat/.

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