Outlook for Services Sector Improved


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NYSE:SAI / NYSE:KBR
03/01/2013 [ACCESSWIRE]

The ShinesRooms.com Provides Stock Research onSAIC Inc. and KBR Inc.

New York City, New York -- Economic data released on Thursday once again highlighted the fact that the U.S. economy is continuing to recover. Apart from the fourth quarter GDP data, recent economic data has been encouraging. With the U.S. economy improving, the services sector is also expanding. This is good news for technical services providers such as SAIC Inc. (NYSE: SAI) and KBR Inc. (NYSE: KBR). According to a report released by the Institute for Supply Management (ISM) in February, service sector expanded in the month of January, driven by robust jobs growth.

Access our free reports onSAIC Inc. and KBR Inc.Traders can also connect to our Wall Street Trading Floor where our research desk and market pros are standing between 8:50 am to 4:15 pm ET at

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Reading on ISM’s service sector index came in at 55.2 in January following a reading of 55.7 in the month of December. A reading of above 50 shows expansion. Other areas of the U.S. economy have also shown signs of improvement. The housing market is seeing the strongest recovery. Last month, a report from the Commerce Department showed that constructions spending in the U.S. rose 0.9% to $885 billion annual rate. The improvement in construction is encouraging news for KBR Inc. as the company provides construction services.KBR Inc.free research is available today at

http://www.ShinesRooms.com/KBR030113.pdf

With lawmakers failing to reach an agreement on reducing U.S.’s budget deficit, the Sequester or automatic spending cuts worth $85 billion have taken effect. Roughly, half of the spending cuts will be made in defense, which should have a negative impact on SAIC Inc. Our free research report onSAIC Inc.can be downloaded upon registration at

http://www.ShinesRooms.com/SAI030113.pdf 

Still SAIC Inc. won some major contracts in February. The company was awarded a prime contract by the Department of Defense (DoD) to provide manufacturing, systems engineering and integration support services. As per the terms of the contract, SAIC will support DoD in module and systems engineering, design and manufacturing, as well as software development and antenna analysis and design. SAIC Inc. was also awarded a contract by United States Army last month. The company was also awarded a contract by United States Naval Surface Warfare Center Carderock Division.

Investors are now eyeing SAIC Inc.’s fourth quarter and fiscal year 2013 financial results, which will be released on March 26th, 2013.

Last month, KBR Inc. reported its financial results for the fourth quarter of 2012. The Houston, Texas-based company reported net income of $30 million, or $0.20 per share for the fourth quarter, compared to $90 million, or $0.60 per share reported for the same period in the previous year.

Consolidated revenue for the quarter was $1.9 billion, compared to $2.1 billion reported for the same period in the previous year.
 
Bill Utt, Chairman, President and CEO of KBR Inc., last week said that 2012 was overall a disappointing year for KBR Inc. where issues at the company’s Mineral and U.S. Construction Business units offset strong operating performance across the Hydrocarbons Business Group. Utt said that as the company begins 2013, it sees a robust series of new opportunities across each of its Business units. He added that potential opportunity set for KBR is tremendous and he is confident in the company’s ability to successfully win and execute this work.

 

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