SAIC: Fiscal Q1 Earnings Snapshot

RESTON, Va. (AP) _ Science Applications International Corp. (SAIC) on Thursday reported fiscal first-quarter profit of $81 million.

On a per-share basis, the Reston, Virginia-based company said it had net income of $1.38. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to $1.94 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.

The information technology company posted revenue of $1.88 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $1.79 billion.

SAIC expects full-year earnings in the range of $6.15 to $6.40 per share, with revenue in the range of $7.15 billion to $7.3 billion.

SAIC shares have dropped 3% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $91.81, a climb of roughly 2% 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

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