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SAIC: Fiscal 1Q Earnings Snapshot

RESTON, Va. (AP) _ Science Applications International Corp. (SAIC) on Tuesday reported fiscal first-quarter earnings of $49 million.

The Reston, Virginia-based company said it had net income of $1.13 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.02 per share.

The information technology company posted revenue of $1.18 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $1.12 billion.

SAIC shares have increased 15 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $88.08, a rise of 8 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SAIC at https://www.zacks.com/ap/SAIC