02:02 PM EDT, 06/03/2024 (MT Newswires) -- (Updates with the latest stock movement in the headline and the first paragraph.)

Science Applications International ( SAIC ) shares fell nearly 11% in recent Monday trading after reporting lower fiscal Q1 adjusted earnings and revenue.

The company reported fiscal Q1 adjusted earnings of $1.92 per diluted share, down from $2.14 a year earlier.

Analysts polled by Capital IQ expected $1.92.

Revenue for the fiscal quarter ended May 3 was $1.85 billion, down from $2.03 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.84 billion.

For fiscal 2025, the defense contractor reiterated its previous guidance of adjusted earnings of $8.00 to $8.20 per diluted share on revenue of $7.35 billion to $7.50 billion. Analysts polled by Capital IQ expect adjusted earnings of $8.10 per share on revenue of $7.45 billion.

Price: 120.11, Change: -14.54, Percent Change: -10.80