SAIC (SAI), the government technology contractor, this afternoon posted revenue for its fiscal fourth quarter ended January 31 of $2.68 billion, with diluted EPS from continuing operations of 31 cents. The Street consensus was for $2.69 billion and 32 cents.
For the January 2011 fiscal year, the company previously had been forecasting growth at the low end of its long-term guidance range of 5%-9%; the new target is for growth of 3%-6%. SAIC now sees operating margin up 10-20 basis points, down a previous forecast of up 20-30 basis points.
SAIC noted that it is seeing slower-than-anticipated new contract awards, and also noted that there is now a “tougher government contracting environment.”
SAIC in late trading is down $1.08, or 5.7%, to $17.89.
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