SAIC posts higher 2Q net income

Engineering services company SAIC Inc. said Wednesday its fiscal second-quarter net income rose sharply, boosted by higher revenue and stronger bookings along with lower expenses.

For the three months ended July 31, the company earned $189 million, or 50 cents per share, up 54 percent from $123 million, or 31 cents per share, in the same period a year earlier.

Earnings from continuing operations totaled 42 cents per share in the latest quarter, up from 31 cents per share a year earlier. The latest quarter saw a benefit from an arbitration settlement related to a former subsidiary.

Revenue climbed edged slightly higher to $2.79 billion from $2.75 billion.

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- Posted: 2010-09-01 21:15:02

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