SAIC Q4 Profit Rises - Quick Facts

(RTTNews) - Science Applications International Corp. (SAIC) reported fourth-quarter net income of $36 million or $0.75 per share, compared to $33 million or $0.66 per share, prior year. The company said the increase in net income was driven by consistent operating income and a current quarter decrease in income tax expense.

On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.71 for the quarter. Analysts' estimates typically exclude special items. Total revenues increased to $952 million from $941 million last year. Excluding revenues performed by former parent, revenues were $941 million, for the quarter. Analysts expected revenue of $935.70 million for the quarter.

The company said its total revenues expanded from the prior year due to increased material volume on supply chain contracts and from revenues on newly awarded programs. These increases offset lower revenues caused by the continued impact of programs that ended in the prior year and lower activity on in-theater logistics programs.