In the 12 months to January 31, 2004, the San Diego, California-based company grew net income 43% to $351m on revenue that increased 14% to $6.7bn. The company said revenue from the government sector grew 24%, offsetting an 18% decline in sales to telecom operators.
In the fourth quarter, SAIC’s net profit fell 5% to $76m on revenue that grew 20% to $1.5bn. SAIC blamed the decline on restructuring and facilities closure costs, as well as higher net interest charges.
Chief executive Ken Dahlberg said the company is in a strong position for expansion, with an order backlog of $4.2bn, and cash and marketable securities of $2.4bn. Dahlberg said the company is aiming to double revenue to $12bn in the next five years.
This article is based on material originally published by ComputerWire
