Science Applications slides 6.9% post Q1 results

|About: Science Applications I... (SAIC)|By:, SA News Editor

Science Applications (SAIC -6.9%reports Q1 revenue growth of 7.3% Y/Y to 1.2B, the increase was due to revenue on new contracts primarily supporting NASA and the Environmental Protection Agency $47M and increased orders in our supply chain portfolio $64M.

Operating margin declined 10 bps to 5.6% & EBITDA margin declined 10 bps to 6.5%, which was driven by higher supply chain material content which generate lower operating margins.

Cash flows provided by operating activities was $88M, this net increase in working capital investments in platform integration programs supporting the U.S. Navy and Marine Corps was offset by strong customer collections in Q1.

Deployed $54M of capital, consisting of $32M in plan share repurchases of 0.4M shares, $14M in cash dividends and an $8M term loan repayment.

Book-to-bill ratio of 0.8%, estimated backlog of signed business orders was ~$10B of which$1.9 B was funded.

Declared a cash dividend of $0.31 per share payable on July 27, 2018.

Previously: Science Applications beats by $0.10, beats on revenue (June 12)

Subscribe for full text news in your inbox