Science Applications Results Beat Street View, Outlook Weak; Stock Down 10%

(RTTNews) - Shares of Science Applications International Corp. (SAIC) slipped over 10% in extended trading session on Thursday, hurt largely by disappointing outlook.

Fourth-quarter net income rose to $62 million or $1.05 per share from $59 million or $1.01 per share last year.

Adjusted earnings for the quarter were $1.67 per share, up from $1.58 per share last year. Analysts polled by Thomson Reuters estimated earnings of $1.45 per share for the quarter.

Revenues for the fourth quarter rose to $1.72 billion from $1.54 billion last year. Analysts had a consensus revenue estimate of $1.78 billion for the quarter.

Looking forward to full year 2022, the company expects revenues of $7.1 billion to $7.3 billion and adjusted earnings of $6.00 to $6.25 per share. Analysts currently estimate earnings of $7.20 per share on revenues of $7.62 billion.

SAIC is currently trading at $95.89, up $1.06 or 1.12%, on the Nasdaq. The stock, however, slipped $10.39 or 10.84% in the after-hours trading.