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SAIC Announces Strong Quarterly Profit Growth

By USinMinutes - Sep 05, 2024, 06:56 AM ET
SAIC Announces Strong Quarterly Profit Growth

Second Quarter Revenue Sees 2% Organic Growth for SAIC

Science Applications International Corporation [SAIC] reported a net income of $81 million for the second quarter ended August 2, 2024. The quarter, marked as Q2 of the fiscal year, saw a noteworthy figure compared to the previous quarter's net income.

The company, headquartered in Reston, Virginia, reported to SEC in an 8-K filing $1.58 earnings per share in the quarter, compared to $4.56 in the previous quarter.

Science Applications International Corporation, a technology integrator in the defense, space, civilian, and intelligence markets, reported revenues of $1.82 billion for the current period, showing a 2% increase from the previous quarter's revenue.

In comparison to the same quarter in the previous year, Science Applications International Corporation experienced a revenue increase, with the current period showing growth of 2%. Additionally, the company's net income for the current quarter displayed a decrease of 67% compared to the net income in the same quarter of the previous year.

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129.21 (0.67)

As of September 4, 2024 end of day trading.

Dollars in millions
May 03, 2024    Feb 02, 2024    Nov 03, 2023    Aug 04, 2023   

Income Statement

Revenue $1,847.0  $7,444.0  $1,895.0  $1,784.0 
Net Income $77.0  $477.0  $93.0  $247.0 
Net Cash -$45.0  -$15.0  $202.0  $243.0 
Profit as % of Revenues11.53 11.71 12.08 12.11 
Profit as % of Assets1.46 8.79 1.66 4.40 
Profit as % of Stockholder Equity4.38 26.72 5.09 13.40 
Return on Equity4.38 -8.01 -1.15 13.40 
Return on Assets1.47 -2.69 -0.37 4.35 
Turnover Ratio34.97 1.37 0.34 0.32 

Balance Sheet

Total Assets $5,250.0  $5,314.0  $5,658.0  $5,672.0 
Total Liabilities $3,491.0  $3,529.0  $3,830.0  $3,829.0 

Cash Flow Statement

Operating Cash Flow $98.0  $396.0  $333.0  $232.0 
Investing Cash Flow -$7.0  $314.0  $324.0  $334.0 
Financing Cash Flow -$136.0  -$725.0  -$455.0  -$323.0 
 
USinMinutes is an offering of 10kInfo, Inc., bringing you news on the latest regulatory filings. Although we take care to ensure accuracy, the article does not intend to replace user diligence in decisions of financial or legal implications.
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