Science Applications International Corporation Q1 Profit Decreases, Misses Estimates

(RTTNews) - Science Applications International Corporation (SAIC) reported a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $68 million, or $1.42 per share. This compares with $77 million, or $1.48 per share, last year.

Excluding items, Science Applications International Corporation reported adjusted earnings of $92 million or $1.92 per share for the period.

Analysts on average had expected the company to earn $2.12 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 1.6% to $1.877 billion from $1.847 billion last year.

Science Applications International Corporation earnings at a glance (GAAP) :

-Earnings: $68 Mln. vs. $77 Mln. last year. -EPS: $1.42 vs. $1.48 last year. -Revenue: $1.877 Bln vs. $1.847 Bln last year.

The Board will pay a cash dividend of $0.37 per share on July 25, to the stockholders of record as of July 11.   Looking ahead, for the full year, the company has reaffirmed its outlook.

SAIC still expects adjusted income per share of $9.10 to $9.30, in line with analysts’ forecast of $9.26 per share.

SAIC continues to anticipate annual revenue of $7.60 billion to $7.75 billion, compared with analysts’ estimate of $7.68 billion.

SAIC was down by 6.53% at $108 in the pre-market trade on the Nasdaq.