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SAIC FY 2013 Revenue Up 6%, Board Approves Special $1 Dividend; John Jumper Comments

John Jumper
John Jumper

Science Applications International Corp. (NYSE: SAI) has announced financial results for its fourth quarter and full 2013 fiscal year, ended Jan. 31, 2013.

Fourth quarter revenue rose 10 percent year-over-year, going from $2.47 billion in the prior year period to $2.71 billion.

For fiscal 2013, the company reported a 6 percent revenue increase to $11.17 billion over the $10.5 billion reported for fiscal 2012.

“We made a number of significant investments towards the future separation of the company, ” said John Jumper, chairman and CEO.

“Our board of directors has approved a quarterly cash dividend and, in addition, a special dividend, ” he added.

The 12-cent per share quarterly dividend is payable to shareholders on April 30 and the special $1 per share dividend is payable June 28, the company said.

SAIC’s defense solutions segment saw revenue grow 32 percent for the quarter and 13 percent for the full fiscal year.

Full year revenue in the health, energy and civil solutions segment grew 2 percent and the company attributed the increase to its $473 million acquisition of maxIT Healthcare Holdings in August 2012 and its pickup of Vitalize Consulting Solutions one year prior for an undisclosed amount.

Intelligence and cybersecurity solutions revenues for fiscal 2013 increased 3 percent from fiscal year 2012, the company said.

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