SAIC Q2 Adj. EPS Tops View - Quick Facts

(RTTNews) - Science Applications International Corp. (SAIC) reported second-quarter net income of $22 million, or $0.46 per share, down from $34 million, or $0.70 per share in the prior year. The decrease in net income was due to lower operating income and increased interest expense of $9 million on incremental term loan borrowings related to the acquisition of Scitor.

Adjusted earnings per share for the latest second quarter declined to $0.66 from $0.70 in the comparable quarter last year. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.60 for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased to $1.10 billion from $952 million last year, while six analysts expected revenue of $1.12 billion for the quarter.