$SAIC
Science Applications International Corp

2014 Q3 Form 10-Q Financial Statement

#000119312514336973 Filed on September 10, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q1 2013 Q3
Revenue $952.0M $941.0M $1.034B
YoY Change -7.93% -18.53% -16.0%
Cost Of Revenue $871.0M $861.0M $960.0M
YoY Change -9.27% -19.23% -15.34%
Gross Profit $81.00M $80.00M $74.00M
YoY Change 9.46% -10.11% -23.71%
Gross Profit Margin 8.51% 8.5% 7.16%
Selling, General & Admin $22.00M $23.00M $18.00M
YoY Change 22.22% 53.33% -41.94%
% of Gross Profit 27.16% 28.75% 24.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.000M $3.000M $1.000M
YoY Change 400.0% 0.0% -66.67%
% of Gross Profit 6.17% 3.75% 1.35%
Operating Expenses $22.00M $23.00M $18.00M
YoY Change 22.22% 53.33% -41.94%
Operating Profit $59.00M $56.00M $38.00M
YoY Change 55.26% -8.2% -38.71%
Interest Expense $4.000M -$4.000M
YoY Change
% of Operating Profit 6.78% -7.14%
Other Income/Expense, Net
YoY Change
Pretax Income $55.00M $52.00M $38.00M
YoY Change 44.74% -14.75% -38.71%
Income Tax $21.00M $19.00M $13.00M
% Of Pretax Income 38.18% 36.54% 34.21%
Net Earnings $34.00M $33.00M $25.00M
YoY Change 36.0% -23.26% -34.21%
Net Earnings / Revenue 3.57% 3.51% 2.42%
Basic Earnings Per Share $0.72 $0.68 $0.51
Diluted Earnings Per Share $0.70 $0.66 $0.50
COMMON SHARES
Basic Shares Outstanding 47.50M 48.41M shares 48.60M shares
Diluted Shares Outstanding 48.90M 49.70M shares

Balance Sheet

Concept 2014 Q3 2014 Q1 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $247.0M $254.0M $2.000M
YoY Change 12250.0% 25300.0%
Cash & Equivalents $247.0M $254.0M $2.000M
Short-Term Investments
Other Short-Term Assets $94.00M $8.000M $96.00M
YoY Change -2.08% -93.16%
Inventory $59.00M
Prepaid Expenses $23.00M
Receivables $639.0M $621.0M $710.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $980.0M $994.0M $808.0M
YoY Change 21.29% 22.87%
LONG-TERM ASSETS
Property, Plant & Equipment $58.00M $60.00M $26.00M
YoY Change 123.08% 106.9%
Goodwill $379.0M $379.0M $379.0M
YoY Change 0.0% 0.0%
Intangibles $4.000M $5.000M
YoY Change -33.33%
Long-Term Investments
YoY Change
Other Assets $13.00M $14.00M $9.000M
YoY Change 44.44% 250.0%
Total Long-Term Assets $450.0M $453.0M $437.0M
YoY Change 2.97% 3.9%
TOTAL ASSETS
Total Short-Term Assets $980.0M $994.0M $808.0M
Total Long-Term Assets $450.0M $453.0M $437.0M
Total Assets $1.430B $1.447B $1.245B
YoY Change 14.86% 16.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $370.0M $337.0M $433.0M
YoY Change -14.55% -19.76%
Accrued Expenses $154.0M $199.0M $165.0M
YoY Change -6.67% 7.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $26.00M $13.00M $1.000M
YoY Change 2500.0% 550.0%
Total Short-Term Liabilities $568.0M $564.0M $599.0M
YoY Change -5.18% -11.6%
LONG-TERM LIABILITIES
Long-Term Debt $476.0M $489.0M $2.000M
YoY Change 23700.0% 48800.0%
Other Long-Term Liabilities $22.00M $17.00M $17.00M
YoY Change 29.41% 70.0%
Total Long-Term Liabilities $22.00M $506.0M $17.00M
YoY Change 29.41% 4500.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $568.0M $564.0M $599.0M
Total Long-Term Liabilities $22.00M $506.0M $17.00M
Total Liabilities $590.0M $1.070B $616.0M
YoY Change -4.22% 64.87%
SHAREHOLDERS EQUITY
Retained Earnings $70.00M $30.00M
YoY Change
Common Stock $295.0M $349.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $364.0M $377.0M $627.0M
YoY Change
Total Liabilities & Shareholders Equity $1.430B $1.447B $1.245B
YoY Change 14.86% 16.22%

Cashflow Statement

Concept 2014 Q3 2014 Q1 2013 Q3
OPERATING ACTIVITIES
Net Income $34.00M $33.00M $25.00M
YoY Change 36.0% -23.26% -34.21%
Depreciation, Depletion And Amortization $5.000M $3.000M $1.000M
YoY Change 400.0% 0.0% -66.67%
Cash From Operating Activities $65.00M $125.0M $63.00M
YoY Change 3.17% 278.79% -50.78%
INVESTING ACTIVITIES
Capital Expenditures -$3.000M -$6.000M -$1.000M
YoY Change 200.0% 500.0% -50.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$3.000M -$6.000M -$1.000M
YoY Change 200.0% 500.0% -50.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -52.00M -22.00M -61.00M
YoY Change -14.75% -29.03% -51.59%
NET CHANGE
Cash From Operating Activities 65.00M 125.0M 63.00M
Cash From Investing Activities -3.000M -6.000M -1.000M
Cash From Financing Activities -52.00M -22.00M -61.00M
Net Change In Cash 10.00M 97.00M 1.000M
YoY Change 900.0% 9600.0%
FREE CASH FLOW
Cash From Operating Activities $65.00M $125.0M $63.00M
Capital Expenditures -$3.000M -$6.000M -$1.000M
Free Cash Flow $68.00M $131.0M $64.00M
YoY Change 6.25% 285.29% -50.77%

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us-gaap Income Tax Expense Benefit
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us-gaap Cost Of Revenue
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us-gaap Depreciation And Amortization
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Share Based Compensation
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saic Increase Decrease In Income From Change In Contract Estimates
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saic Increase Decrease In Income From Change In Contract Estimates Per Diluted Share
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CY2013Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.342 pure
CY2013Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1100000 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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49700000 shares
CY2013Q3 us-gaap Earnings Per Share Basic
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0.51
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48600000 shares
CY2013Q3 us-gaap Operating Income Loss
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38000000
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
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CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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38000000
CY2013Q3 us-gaap Revenues
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CY2013Q3 us-gaap Net Income Loss
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CY2013Q3 us-gaap Selling General And Administrative Expense
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CY2013Q3 us-gaap Restructuring Charges
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CY2013Q3 us-gaap Income Tax Expense Benefit
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CY2013Q3 us-gaap Cost Of Revenue
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CY2013Q3 saic Increase Decrease In Income From Change In Contract Estimates
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CY2014Q3 us-gaap Earnings Per Share Diluted
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CY2014Q3 us-gaap Effective Income Tax Rate Continuing Operations
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CY2014Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1400000 shares
CY2014Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
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CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2014Q3 us-gaap Earnings Per Share Basic
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CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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47500000 shares
CY2014Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
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CY2014Q3 us-gaap Operating Income Loss
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CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2014Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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CY2014Q3 us-gaap Derivative Net Hedge Ineffectiveness Gain Loss
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CY2014Q3 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
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0
CY2014Q3 us-gaap Revenues
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CY2014Q3 us-gaap Net Income Loss
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CY2014Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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CY2014Q3 us-gaap Interest Expense
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CY2014Q3 us-gaap Selling General And Administrative Expense
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CY2014Q3 us-gaap Income Tax Expense Benefit
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CY2014Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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CY2014Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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CY2014Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
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CY2014Q3 us-gaap Cost Of Revenue
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CY2014Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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CY2014Q3 saic Increase Decrease In Income From Change In Contract Estimates
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0.03

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