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SAIC: Fiscal 1Q Earnings Snapshot

RESTON, Va. (AP) _ Science Applications International Corp. (SAIC) on Thursday reported fiscal first-quarter net income of $36 million.

On a per-share basis, the Reston, Virginia-based company said it had net income of 62 cents. Earnings, adjusted for costs related to mergers and acquisitions and amortization costs, were $1.38 per share.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.41 per share.

The information technology company posted revenue of $1.76 billion in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $1.73 billion.

SAIC expects full-year earnings in the range of $5.80 to $6.10 per share, with revenue in the range of $7.1 billion to $7.3 billion.

SAIC shares have risen nearly 3% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $89.48, an increase of 15% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SAIC at https://www.zacks.com/ap/SAIC