Science Applications Int'l Corp (SAIC)

[DMOST]

Free Post Earnings Research Report: SAIC’s Net Income Surged 51%; Beat Forecasts
[ACCESSWIRE]
ACCESSWIREApril 27, 2018

Stock Monitor: Atlassian Post Earnings Reporting

LONDON, UK / ACCESSWIRE / April 27, 2018 / Active-Investors.com has just released a free earnings report on Science Applications International Corp. (NYSE: SAIC) ("SAIC"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SAIC. The Company released its fourth quarter fiscal 2017 (Q4 FY17) and full fiscal year 2017 (FY17) on March 29, 2018. The Reston, Virginia-based Company's revenues and net income rose 10% and 51% y-o-y, respectively; topping market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Atlassian Corporation PLC (NASDAQ: TEAM), which also belongs to the Technology sector as the Company Science Applications International. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=TEAM

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Science Applications International most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=SAIC

Earnings Highlights and Summary

During Q4 FY17, SAIC's total revenues came in at $1.13 billion, 10% higher than the $1.02 billion recorded in Q4 FY16. The Company's total revenue numbers for Q4 FY17 also topped market consensus expectations of $1.07 billion.

The information technology Company's net income rose to $51 million, or $1.16 per diluted share, in Q4 FY17 from $35 million, or $0.77 per diluted share, in the prior year's same quarter. Furthermore, Wall Street had expected the Company to report an adjusted net income of $0.81 per diluted share.

For FY17, SAIC's total revenues were $4.45 billion compared to $4.44 billion in FY16. The Company's net income rose to $179 million, or $4.02 per diluted share, in FY17, up from $143 million, or $3.12 per diluted share, in FY16.

Operating Metrics

The Reston, Virginia-based Company's operating expenses were $1.02 billion in Q4 FY17 compared to $919 million in Q4 FY16. The Company spent $45 million on selling, general, and administrative expenses in Q4 FY17 compared to $46 million in Q4 FY16. The Company's operating income came in at $62 million in the reported quarter versus $59 million in the prior year's comparable quarter. The Company's operating income as a percentage of net sales improved to 5.5% in Q4 FY17 from 5.8% in Q4 FY16. For Q4 FY17, SAIC's earnings before interest, tax, depreciation, and amortization (EBITDA) came in at $74 million, or 6.6% of revenues, compared to $71 million, or 6.9% of revenues, in Q4 FY16. Furthermore, the Company reported an adjusted EBITDA of $83 million, or 7.4% of revenues, in Q4 FY17 compared to $71 million, or 6.9% of revenues, in Q4 FY16. The Company's strong EBITDA margin performance was primarily driven by lower selling, general, and administrative expenses (SG&A), due to efficiencies across the operating structure, offset by lower net favorable changes in estimates on contracts accounted for under the percentage-of-completion method.

SAIC's net bookings were approximately $0.6 billion in Q4 FY17, which translated into a book-to-bill ratio of approximately 1.5. At the close of the reported quarter, the Company had approximately $10.2 billion as backlog of signed business orders, of which $2.0 billion was funded.

Cash Flow and Balance Sheet

For the three months ended February 02, 2018, the Company's net cash provided by operating activities was $84 million compared to $62 million in the fourth quarter of FY16. The Company's free cash flow was $77 million during Q4 FY17 versus $58 million in the previous year's comparable quarter. As on February 02, 2018, the Company had cash equivalents and restricted cash balance of $152 million compared to $218 million as on February 03, 2017. Furthermore, the Company reported a long-term debt of $983 million as on February 02, 2018, compared to $1.02 billion as on February 03, 2017.
https://finance.yahoo.com/news/free-post-earnings-research-report-111000516.html

GO SAIC

"PEACE"