SAIC Inc. (SAI: Quote) reported that its first-quarter net income declined to $114 million from $127 million in the prior year quarter. Earnings per share for the quarter were $0.35, down 3 percent from $0.36 in the first quarter of fiscal year 2012.
Revenues for the first quarter of fiscal 2013 were $2.78 billion, up 3 percent from $2.69 billion in the first quarter of fiscal year 2012.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share on revenues of $2.69 billion for the quarter. Analysts' estimates typically exclude special items.
Looking forward to fiscal year 2013, the company still expects earnings from continuing operations in a range of $1.26 to $1.36 per share and revenues of $10.7 billion to $11.2 billion. Analysts expect the company to report earnings of $1.33 per share on revenues of $10.79 billion for fiscal 2013.
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by RTT Staff Writer
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