UPDATE: SAIC Q3 Earnings Top Street View

Science Applications International

reported better-than-expected earnings for the fiscal third quarter. The McLean, Virginia-based company posted a quarterly profit of $37 million, or $0.77 per share, compared to $22 million, or $0.44 per share, in the year-ago period. Its revenue came in at $1,004 million, versus $1,007 million. However, analysts were estimating earnings of $0.74 per share on revenue of $971.20 million. Operating income climbed to $63 million from $37 million. During the third quarter, the company deployed $63 million, consisting of $13 million in dividends and $50 million in share repurchases. Cash flow provided by operating activities was $82 million for the quarter. Net bookings were $967 million for the third quarter. "SAIC continued to deliver exceptional value to its customers and solid financial performance to shareholders," said Tony Moraco, SAIC Chief Executive Officer. "Revenue growth, improved margins and strong cash flow highlight the quarter and demonstrate SAIC's ability to be a leading technology integrator. As we celebrate our first year as an independent company, we continue to focus on executing our strategy, serving our customers and investing in our employees." SAIC shares fell 1.07% to close at $49.81 yesterday.