SAIC Announces Revenue and Earnings for the Second Quarter of Fiscal 2006
(SAN DIEGO) Sep 13, 2005 - Science Applications International Corporation (SAIC) today announced that it achieved second quarter revenues of $1.95 billion, which represents a growth rate of 10 percent over revenues of $1.77 billion for the second quarter of the previous fiscal year. View our Fiscal Year 2006 Second Quarter Income Statement and Balance Sheet (100k, PDF file*).
“This was a solid quarter of performance for our company,” said Ken Dahlberg, SAIC chairman and chief executive officer. “Our employee-owners continue to provide outstanding service to our government and commercial customers.”
SAIC's operating income for the second quarter was $144 million, compared to $114 million during the same period last year. Operating income growth was primarily due to revenue growth and the release of $10 million in accrued litigation expenses no longer required due to favorable legal developments.
Non-operating expenses decreased a net $19 million for the second quarter compared to the same period of the prior year, primarily due to an increase in interest income.
Income from continuing operations for the second quarter was $85 million, compared to $52 million for the same period of the prior year, primarily reflecting the increases in operating income and interest income.
Net income for the second quarter, including $12 million from discontinued operations, was $97 million, compared to $81 million for the same period of the prior year.
*Note: PDF documents are viewed using Acrobat® Reader™.
SAIC is the largest employee-owned research and engineering company in the United States, with annual revenues of $7.2 billion and more than 43,000 employees in over 150 cities worldwide. SAIC engineers and scientists solve complex technical problems in national security, homeland security, energy, the environment, space, telecommunications, health care, and logistics. SAIC: FROM SCIENCE TO SOLUTIONS™.
Statements in this announcement other than historical data and information constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements or industry results to be very different from the results, performance or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the Company's Annual Report on Form 10-K for the period ended January 31, 2005, and such other filings that the Company makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.
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