SAIC Reports 3Q Earnings Above Analyst Forecast; Tony Moraco Comments

Dec 12, 2016

TYSONS CORNER, VA, Dec. 12, 2016 —  Science Applications International Corp. (NYSE: SAIC) has registered earnings for the third quarter of fiscal 2016 at $0.91 earnings per share compared to the consensus Wall Street analyst forecast of $0.84 EPS, GovCon Wire reported Thursday.
The report said the company’s net income climbed 23.53 percent to reach $42 million amid a revenue decline of 1.76 percent year-over-year to $1.11 billion partly due to reduced activity on the U.S. Marine Corps Assault Amphibious Vehicle program.
According to GovCon Wire, SAIC CEO Tony Moraco told investors the company has delivered 16 AAVs with survivability functions to the Marine Corps, and it will also supply 16 prototype units of the Amphibious Combat Vehicle by November 2017.

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