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SAIC Swings To Profit In Fourth Quarter But Margins Slide

Defense Daily Staff Defense Daily Staff
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SAIC [SAI] on Tuesday posted positive net income in the fourth quarter after a loss a year ago was impaired by a hefty charge related to a workforce management system for New York City. Net income in the quarter was $182 million, 54 cents earnings per share (EPS), versus a loss of $161 million (49 cents EPS) a year ago, topping consensus estimates by two cents. Excluding the charge from the City Time contract, SAIC’s operating margins in the quarter…

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