SAIC Falls In Pre-market After Profit, Revenue Drop In Q4

(RTTNews) - Shares of Science Applications International Corporation (SAIC), a provider of technical, engineering, and enterprise information technology services, are falling more than 8 percent in Pre-market on Monday at $130.50, after reporting lower profit for the fourth quarter, below Street expectations.

Profit for the fourth quarter was $39 million or $0.74 per share, lower than $74 million or $1.34 per share in the same quarter a year ago, impacted by decline in revenue.

Excluding one-time items, earnings were $1.43 per share, that missed the average estimate of analysts polled by Thomson-Reuters of $1.46 per share.

Revenue for the quarter declined 12 percent to $1.737 billion from $1.968 billion in the previous year. The consensus estimate was for $1.64 billion.

SAIC had closed at $142.64, down 0.38 percent on Friday. It has been trading in the range of $95.43 - $145.17 in the last 1 year.