SAIC: Fiscal Q1 Earnings Snapshot

RESTON, Va. (AP) — RESTON, Va. (AP) — Science Applications International Corp. (SAIC) on Monday reported fiscal first-quarter net income of $98 million.

The Reston, Virginia-based company said it had profit of $1.79 per share. Earnings, adjusted for one-time gains and costs, came to $2.14 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.79 per share.

The information technology company posted revenue of $2.03 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $1.94 billion.

For the current quarter ending in July, SAIC expects its per-share earnings to range from $7 to $7.20.

The company said it expects revenue in the range of $7.13 billion to $7.23 billion for the fiscal second quarter.

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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