RESTON, VA – International Corporation (NASDAQ:) (NASDAQ: SAIC), a leading Fortune 500® technology integrator, reported first-quarter earnings per share (EPS) of $1.92, in line with… Analysts' expectations.
Revenue for the quarter marginally beat expectations, coming in at $1.85 billion versus the consensus estimate of $1.84 billion, representing a slight increase from the same quarter last year.
The company's performance in the first quarter of fiscal year 2025 saw organic growth of 0.4%, reflecting the impact of divestitures. However, revenues decreased by 9% compared to the previous year, primarily due to the sale of our logistics and supply chain management businesses and contract completions, which was somewhat offset by increased volume of existing and new contracts.
SAIC's net income was $77 million, with adjusted EBITDA of $166 million, or 9.0% of revenue. Diluted EPS for the quarter was $1.48, down from $1.79 in the prior-year quarter. Adjusted diluted earnings per share also saw a decline from $2.14 to $1.92 year over year. The company's net bookings for the quarter were approximately $2.6 billion, with a booking-to-bill ratio of 1.4.
For fiscal 2025, SAIC has reaffirmed its financial guidance, forecasting revenue in the range of $7.35 billion to $7.50 billion, with adjusted EBITDA expected to be in the range of $680 million to $700 million.
Adjusted EBITDA margin is expected to be between 9.2% and 9.4%, and adjusted diluted EPS is expected to be between $8.00 and $8.20. This guidance suggests a midpoint just below analyst consensus of $8.10 for adjusted EPS and right in the middle of revenue estimates.
“We reported strong financial results in the quarter as we began executing on our enterprise growth strategy presented at SAIC's 2024 Investor Day,” said Tony Towns-Whiteley, CEO of SAIC. “We are confident that the strategy and investments we are making best position the company to maximize shareholder value over the long term.”
SAIC's cash flows from operating activities were $98 million, an increase of 20% from the previous year. The company's capital distribution during the quarter amounted to $107 million, including plan share repurchases, cash dividends and capital expenditures.
While the company continues operations, it remains focused on driving the nation's digital transformation across the defense, space, civil and intelligence markets, with a workforce of approximately 24,000 people and annual revenue of approximately $7.4 billion.
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