Reston, VA-based technical, engineering and enterprise IT company Scientific Applications International is gaining 7% to $84.82 Thursday following its first-quarter earnings release.
The company reported a 37% increase in first-quarter revenue to $1.6 billion, yielding earnings of $1.36 per share. Analysts polled by FactSet were expecting the company to report revenue of $1.6 billion on earnings of 90 cents per share.
"SAIC is off to a strong start to fiscal year 2020, keeping our attention on strong operational performance while continuing the integration of Engility," said SAIC CEO-Elect, Nazzic Keene. "The transition of CEO responsibilities has gone smoothly while executing our business strategy to accelerate sustained profitable growth through our newly acquired capabilities, talent and customer access."
Separately the company announced a quarterly cash dividend of 37 cents per share, payable July 26 to shareholders of record on July 12.
The company reported operating income as a percentage of revenue of 5.8%, up from 5.6% in the year-ago period.