SAIC reports sales boost

March 29, 2019 at 12:17 PM

Science Applications International Corp. said this week sales in its most recent quarter reached $1.2 billion, up 6 percent from the same three-month period a year earlier.

Sales for the company's fiscal year, which ended Feb. 1, hit $4.7 billion, up 5 percent from the prior year.

SAIC attributed its increased sales to its acquisition of Engility as well as new contracts and increased supply chain portfolio orders.

"These increases were partially offset by reduced volume in fixed price vehicle production in the platform integration portfolio, completion of contracts and other net decreases across our portfolio," the company said, noting revenues grew just shy of 3 percent when the acquisition and the effect of the government shutdown are excluded.

SAIC reported a quarterly loss of $9 million, down from profit of $51 million during the same period a year earlier. Profit for the year hit $137 million, down 23 percent from the prior year.

SAIC said it received a one-time boost a year earlier from tax reform legislation.

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