This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SAIC Tops Estimates

SAN FRANCISCO -- Sales of products and services for border security and intelligence projects helped defense contractor and engineering services firm SAIC (SAI) top third-quarter financial estimates.

The company also modified its annual guidance to suggest it would likely top its prior forecasts.

Third-quarter net income rose to $105 million, or 25 cents a share, from $98 million, or 28 cents a share, a year earlier. The drop in earnings per share stems from the higher share count.

Excluding a loss from discontinued operations, the company earned 26 cents a share, beating analysts' consensus estimate of 23 cents a share, according to Thomson Financial.

Revenue rose 14% to $2.37 billion, also topping analysts' average estimate, helped by acquisitions and sales of defense, intelligence and domestic security products and services. Excluding acquisitions, revenue rose 8%.

During the quarter, SAIC booked $3.9 billion in net new projects, for a book-to-bill ratio of 1.6.

For the full year, the company said its earnings would fall near the top of -- or slightly above -- its originally forecasted range of 83 to 88 cents a share, which would likely beat analysts consensus forecast of 87 cents.

SAIC expects revenue within its originally forecasted range of $8.7 billion to $9.0 billion, the midpoint of which is slightly ahead of analysts' views.

Shares of SAIC were recently up 76 cents, or 3.8%, in after-hours trading to $20.60.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
SAI $16.03 0.00%
AAPL $93.73 -1.20%
FB $116.25 -0.41%
GOOG $692.41 0.20%
TSLA $239.58 -3.30%


Chart of I:DJI
DOW 17,716.81 -113.95 -0.64%
S&P 500 2,057.50 -18.31 -0.88%
NASDAQ 4,759.5450 -45.7460 -0.95%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs