SAIC Beats Q4 Views

Shares of Science Applications International Corp. SAIC rose over 2% in pre-market trading after the company reported better-than-expected results for the fourth quarter on Tuesday. The McLean, Virginia-based company posted a quarterly profit of $36 million, or $0.75 per share, versus a year-ago profit of $33 million, or $0.66 per share. Its revenue climbed to $952 million from $941 million. However, analysts were expecting earnings of $0.71 per share on revenue of $935.70 million. Operating income for the fourth quarter rose to $59 million, versus $56 million, in the year-ago period. Net bookings were $0.7 billion for the fourth quarter. Cash flows provided by operating activities dropped $29 million from the year-ago quarter to $96 million. The company's board declared a regular quarterly cash dividend of $0.28 per share. "SAIC's fourth quarter and full fiscal year 2015 results reflect our continued focus on execution of our business strategy and shareholder value creation proposition," said SAIC CEO Tony Moraco. "The impending addition of Scitor bolsters a strong history of performance for our customers and accelerates SAIC's entry into the intelligence community." The average estimate among 5 Estimize users was for earnings of $0.73 per share and revenue of $943.15 million for the fourth quarter. SAIC shares rose 2.33% to $57.00 in pre-market trading.