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Science Applications International Corp (NYSE: SAIC) delivers mission-critical technology integration and IT solutions for U.S. government agencies. This page provides investors and stakeholders with direct access to SAIC's latest news, including press releases, financial updates, and strategic developments.
Key resources include: Earnings reports, federal contract awards, cybersecurity initiatives, and leadership updates. Track SAIC's progress in defense modernization, digital transformation projects, and systems engineering innovations through verified primary sources.
All content is organized chronologically for quick reference, with clear sourcing and publication dates. Bookmark this page to monitor SAIC's evolving role in national security infrastructure and enterprise IT solutions.
Science Applications International Corp. (NYSE: SAIC) has secured a $102.5 million contract from the U.S. Navy to enhance its support for the MK 48 Mod 7 Heavyweight Torpedo program. This contract builds on a previous $1.1 billion production contract, illustrating SAIC's long-term involvement in defense initiatives. Under this new agreement, SAIC will produce and deliver components including the MK 48 Mod 7 Torpedo Afterbody Tailcones and MK29 Mod 0 Warshot Fuel Tanks to the U.S. Navy and foreign partners via Foreign Military Sales (FMS) programs. The firm also provides facilities and resources necessary for testing and delivery. With an annual revenue of approximately $7.7 billion and a workforce of 25,000, SAIC continues to solidify its role as a key technology integrator for the defense sector.
Science Applications International Corporation (SAIC) reported Q4 FY2023 revenues of $1.97 billion, reflecting a 10% increase year-over-year, while FY2023 revenues reached $7.70 billion, up 4% from the prior year. SAIC achieved Q4 diluted earnings per share of $1.34, a 76% increase compared to last year. Operating cash flow for FY2023 was $532 million, with free cash flow of $457 million, exceeding prior guidance. Updated FY2024 guidance anticipates $7.05B - $7.20B in revenue with a ~3% pro-forma organic growth. The company plans to divest its Logistics & Supply Chain Management business for $350 million to optimize its portfolio.
Science Applications International Corp. (NYSE:SAIC) has declared a cash dividend of $0.37 per share of common stock, payable on April 28, 2023, to stockholders of record as of April 14, 2023. The company plans to maintain quarterly dividend payments, contingent upon board approval, earnings, and financial conditions. With annual revenues of approximately $7.4 billion, SAIC continues to lead in technology integration across various sectors, including defense and intelligence.
Science Applications International Corp. (SAIC) has appointed Barbara Graham as the senior vice president of its Navy Business Unit. She will lead strategy, business development, and program excellence for SAIC's $1 billion portfolio serving U.S. Navy and Marine Corps clients. Graham brings extensive experience from her prior leadership roles at GDIT, CACI, and BAE Systems. Bob Genter, president of SAIC's Defense and Civilian Sector, expressed confidence in Graham's ability to drive growth and develop talent. With approximately $7.4 billion in annual revenue, SAIC remains a prominent technology integrator in defense and intelligence markets.
Science Applications International Corp. (NYSE:SAIC) has announced the sale of its logistics and supply chain management business to ASRC Federal for $350 million in cash. The transaction is expected to close in the first half of fiscal year 2024, pending regulatory approvals. CEO Nazzic Keene stated that this sale aligns with SAIC's strategy to streamline its portfolio and focus resources on growth areas such as Secure Cloud, Enterprise IT, and Systems Integration, which now represent over 30% of the company's revenue. Approximately 240 employees will transition to ASRC Federal along with the business.
ASRC Federal announced its acquisition of the logistics and supply chain management business from Science Applications International Corporation (SAIC) on March 23, 2023. This strategic move will enhance ASRC Federal's capabilities in providing secure and technology-enabled logistics solutions to the Defense Logistics Agency (DLA), serving various Department of Defense agencies. The acquisition is expected to close in Spring 2023, pending customary conditions, and will add around 240 professionals to ASRC Federal's workforce. This aligns with ASRC's mission to diversify its service offerings and support military readiness.
Science Applications International Corp. (SAIC) will release its fourth quarter and full fiscal year 2023 results on
Science Applications International Corp. (SAIC) has announced a strategic investment of
Science Applications International Corp. recently announced the winners of the 2023 Black Engineer of the Year Awards (BEYA), recognizing outstanding achievements in technology. The awardees include Boris Bates Sr., Calvin Coker, Alonzo Granville, Richard Truesdale, and Thomas Wilson, who excel in fields related to cyber governance, digital engineering, and program management. The company highlights how these leaders use their skills to contribute to missions for the Department of Defense and mentor future professionals in STEM. This initiative showcases SAIC's commitment to diversity, innovation, and the development of talent in the engineering sector.
SAIC emphasizes the importance of partnerships with historically Black colleges and universities (HBCUs) to enhance industry engagement and community support. The company identifies three key strategies for maximizing these collaborations:
- Broader Engagement: Companies should view HBCUs as more than just talent pools, recognizing their potential in research and government contracts.
- Navigating Business Opportunities: Industry partners can assist HBCUs in understanding government contracts and securing funds.
- Time Investment: Building long-term relationships requires continuous commitment from companies.
SAIC's longstanding partnerships with institutions like Bowie State University and Oakwood University illustrate this commitment.
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