SAIC FY 2014 Earnings Report — Science Applications International Corporation Revenue & Financial Results | Market Cap Arena

Science Applications International CorporationSAIC

FY 2014 Earnings

Reported April 8, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$4.1B	—	$4.8B	—	-13.8%
Op. Income	$183M	—	$281M	—	-34.9%
Gross Margin	8.1%	—	8.5%	—	-0.5pp
Net Margin	2.7%	—	3.8%	—	-1.1pp
EPS (Diluted)	$2.27	—	$0.55	—	312.7%
Free Cash Flow	$167M	—	$273M	—	-38.8%

Revenue Flow

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$3.8B
GROSS PROFIT	$333M
R&D Expenses	$4M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$88M
Other Expenses	$58M
Operating Expenses	$150M
Cost & Expenses	$3.9B
OPERATING INCOME	$183M
Interest Income	$0
Interest Expense	$7M
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$176M
Income Tax Expense	$63M
Net Income from Continuing Ops	$113M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$113M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$113M
D&A	$13M
EBIT	$183M
EBITDA	$196M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$3.8B
GROSS PROFIT	$333M
R&D Expenses	$4M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$88M
Other Expenses	$58M
Operating Expenses	$150M
Cost & Expenses	$3.9B
OPERATING INCOME	$183M
Interest Income	$0
Interest Expense	$7M
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$176M
Income Tax Expense	$63M
Net Income from Continuing Ops	$113M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$113M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$113M
D&A	$13M
EBIT	$183M
EBITDA	$196M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$113M
Depreciation & Amortization	$13M
Stock-Based Compensation	$33M
Deferred Income Tax	$18M
Other Non-Cash Items	$57M
Change in Working Capital	$6M
OPERATING CASH FLOW	$183M
Capital Expenditure	-$16M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$16M
NET CASH FROM INVESTING	-$16M
Net Debt Issuance	$499M
Common Stock Repurchased	-$13M
Common Dividends Paid	-$322M
Other Financing Activities	-$108M
NET CASH FROM FINANCING	$86M
FREE CASH FLOW	$167M
Net Change in Cash	$253M

Balance Sheet

Item	Amount
Cash & Equivalents	$254M
Short-Term Investments	$0
Net Receivables	$621M
Inventory	$119M
Other Current Assets	$8M
TOTAL CURRENT ASSETS	$994M
PP&E (Net)	$60M
Goodwill	$379M
Intangible Assets	$4M
Long-Term Investments	$0
Tax Assets	$1M
Other Non-Current Assets	$13M
TOTAL NON-CURRENT ASSETS	$453M
TOTAL ASSETS	$1.4B
Account Payables	$337M
Short-Term Debt	$13M
Deferred Revenue	$3M
Other Current Liabilities	$12M
TOTAL CURRENT LIABILITIES	$564M
Long-Term Debt	$489M
Deferred Revenue NC	-$15M
Deferred Tax Liabilities	$15M
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$506M
TOTAL LIABILITIES	$1.1B
Common Stock	$0
Additional Paid-In Capital	$349M
Retained Earnings	$30M
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$377M
Minority Interest	$0
TOTAL EQUITY	$377M
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$502M
Net Debt	$248M