Teflon Mike CityTime Crime SAIC Can't Escape Curse!
CityTime Crime SAIC crooks did a make-over like Madonna, Lady Gaga and Prince but the CityTime curse haunts SAIC's clever make-overs and tax maneuvers but the CityTime curse is just too strong!!!
Team Bloomberg Teflon but 911 Tech corruption bigger than CityTime Crime stay tuned...
Higher court called karma pie?
Justice reigns this am where is counts...in the numbers!... Leidos (ex SAIC, means leer in spanish) just announced its going to have a crappy financial quarter, no surprise to the street, no tears here..too bad for Leidos the CityTime Curse and Doctor Redacto can't erase these facts....
SAIC now Leidos legal team of writers work OT to make you think hard about what they really mean, tell the street what does "reserves of $5 million associated with discrete regulatory and legal matters"? Denault ongoing defense bills? Legal costs on shareholder lawsuits? Tricare data lost...note Gradient and Plainfield construction projects went bad? to the tune of 42 million. Splitting only means double the trouble? the other side reports results this week too.
According this am's 8k filing with the SEC.....http://services.corporate-ir.net/SEC.Enhanced/SecCapsule.aspx?c=193857&fid=9133504
"While the Company is still in the process of completing its normal quarterly analysis, the Company now believes that its third quarter of fiscal year 2014 financial performance will be significantly weaker than previously anticipated."
"Operating income is anticipated to decline from $101 million in the third quarter of fiscal year 2013 to an approximately $7 million operating loss in the third
quarter of fiscal year 2014. The year over year decrease in operating income is primarily attributable to:"
•.bad debt expense of $42 million related to the Plainfield and Gradient energy construction projects,
• separation transaction and restructuring expenses of $25 million,
• definite-life purchased intangible assets impairment charge of $19 million associated with two commercial health acquisitions, and
• reserves of $5 million associated with discrete regulatory and legal matters
