SAIC Reports Slight 3Q Revenue, Profit Bumps

SAIC logoScience Applications International Corp. (NYSE: SAI) has reported financial results for the third quarter of the company’s 2015 fiscal year ended Oct. 31, 2014, almost a year after SAIC completed its separation from the company now known as Leidos (NYSE: LDOS).

McLean, Virginia-based SAIC officially became an independent company on Sept. 27, 2013 during the first quarter of the 2014 fiscal year.

SAIC said that it recorded a 2-percent year-over-year increase in revenue to $993 million when excluding the revenue from when Leidos and SAIC were a single company.

Including figures prior to the split, SAIC had $1.004 billion in revenue for the quarter compared to the $1.007 billion from the prior year period.

The company also reported a year-over-year profit increase to $37 million or $0.77 per share from the $22 million or $0.44 per share.

Net bookings for the third quarter totaled $967 million for a book-to-bill ratio of nearly 1.0 and the company reported a funded backlog of $2.036 billion for the quarter with a $4.426 billion negotiated unfunded backlog.

SAIC also reported an increase in cash flow from operating activities to $82 million from the $72 million in the prior year period and has declared a dividend of 28 cents per share to stockholders of record as of Jan. 15, 2015.

Stockholders will receive the payment on Jan. 30, 2015.

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