SAIC Q1 Profit Declines - Quick Facts

(RTTNews) - Science Applications International Corp. (SAIC) reported first-quarter net income of $33 million, down from $34 million in the prior year, while earnings per share were $0.69, same as last year. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.75 for the quarter. Analysts' estimates typically exclude special items.

The company said net income was slightly lower than the prior year due to lower operating income.

Total revenues increased to $1.01 billion from $977 million last year. Total revenues increased due to higher volume on supply chain contracts and increased U.S. Department of Defense or DoD material and subcontract revenues. Analysts expected revenue of $982.50 million for the quarter.

Subsequent to the quarter, the Board of Directors declared a regular quarterly cash dividend of $0.31 per share payable on July 30, 2015 to stockholders of record on July 15, 2015. The dividend represents a 10.7 percent increase from the previous quarterly dividend of $0.28 per share.