SAIC revenue grows 1 percent
- June 4, 2010
Science Applications International Corp. reported a 1 percent increase in revenues for its first quarter of 2011.
The McLean-based defense contractor reported revenues of $2.69 billion for the first quarter, which ended April 30.
SAIC said revenue, excluding acquisitions, was hampered during the first quarter by fewer starts on new contracts and lower demands for materials in some programs.
Still, the company reported a 3 percent increase in its backlog of orders when compared to its fourth quarter.
SAIC’s profiit increased 7.8 percent to $125 million for the quarter as it cut expenses.
SAIC said it stands by its full-year revenue and profit estimates.