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press release

May 26, 2020, 8:30 a.m. EDT

SAIC Wins $650 Million in National Security Contracts in the First Quarter of Fiscal Year 2021

Science Applications International Corp. /zigman2/quotes/202740286/composite SAIC +1.62% won more than $650 million in national security contracts during the first quarter of fiscal year 2021, including two contracts worth nearly $300 million each to continue providing mission and systems engineering support to classified space customers.

“The importance of our customers’ national security missions drives us to adapt in times of change and deliver success regardless of challenges,” said Michael LaRouche , executive vice president and general manager of SAIC’s National Security Group. “ SAIC responded quickly to address the disruption and uncertainty caused by COVID-19 with innovative new approaches. With the contract awards this quarter, we are extending SAIC’s ability to help our customers adapt to change and meet their emerging needs with engineering, integration, space, and IT modernization services and solutions.”

The contracts this quarter serve customers in the intelligence community, Department of Defense, and classified space domains that rely on SAIC’s solutions and distinguished talent. SAIC continues to build deep and trusted customer relationships as one of the largest systems engineering and integration service providers across the U.S. space and intelligence communities. Recent successes have capitalized on pairing SAIC investment in emerging fields of technology with a deep domain understanding of customer missions. SAIC offerings in digital engineering , virtual environments, analytics, cybersecurity, training and app migration to the cloud are among those that have helped customers achieve their critical mission objectives.

About SAIC

SAIC [®] is a premier Fortune 500 [®] technology integrator solving our nation’s most complex modernization and readiness challenges. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes high-end solutions in engineering, IT, and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective, and efficient solutions.

We are 25,500 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has pro forma annual revenues of approximately $7.1 billion. For more information, visit saic.com . For ongoing news, please visit our newsroom .

Forward-Looking Statements

Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.com or on the SEC’s website at sec.gov. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200526005369/en/

SOURCE: Science Applications International Corp.

Lauren Presti
703-676-8982
lauren.a.presti@saic.com

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Copyright Business Wire 2020

/zigman2/quotes/202740286/composite
US : U.S.: NYSE
$ 71.02
+1.13 +1.62%
Volume: 377,991
July 10, 2020 4:00p
P/E Ratio
20.11
Dividend Yield
2.08%
Market Cap
$4.13 billion
Rev. per Employee
$306,333
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