Science Applications Intl Corp Stock Price, News & Analysis

Science Applications International Corporation (SAIC) reported strong first-quarter results for fiscal year 2022, with revenues of $1.878 billion, up 7% year-over-year. Operating income surged 67% to $130 million, and diluted EPS rose to $1.38, reflecting a 123% increase. The company also announced the intent to acquire Halfaker and Associates for $250 million, enhancing its public sector health capabilities. SAIC expects its fiscal year 2022 revenue guidance to be in the range of $7.15 billion to $7.30 billion, while anticipating negative impacts from COVID-19 amounting to approximately $150 million.

Science Applications International Corp. (NYSE: SAIC) announced a definitive agreement to acquire Halfaker and Associates, LLC for $250 million. This acquisition aims to expand SAIC’s digital transformation portfolio, enhancing their services for federal government customers, particularly in health IT. The deal is expected to be accretive to revenue growth in fiscal year 2022, funded through cash on hand and debt. The transaction is anticipated to close by the end of SAIC's second fiscal quarter of 2022.

Science Applications International Corp. (NYSE: SAIC) has been recognized as the leading provider of IT services in the government sector, ranking #1 in both infrastructure implementation and managed services, as well as application managed services, according to a Gartner report. Despite a global IT services market growth of just 1.7%, SAIC achieved an impressive 21.9% growth in these segments. Additionally, the company ranked #3 overall among U.S. IT service providers in the government vertical. SAIC's success is attributed to its proactive cloud migration strategies and strong partnerships with cloud service providers.

Science Applications International Corp. (NYSE: SAIC) has secured an indefinite-delivery, indefinite-quantity contract valued at approximately $200 million to provide continued laboratory operations and support to the Defense Intelligence Agency (DIA). This contract extends until March 29, 2031, and reflects SAIC's longstanding partnership, exceeding 30 years, with the DIA. The company aims to deliver critical assessments and analysis, enhancing national security and foreign threat mitigation.

Science Applications International Corp. (NYSE: SAIC) is set to release its first quarter fiscal year 2022 results on June 3, 2021, followed by a conference call at 5 p.m. EDT. The call will focus on operational and financial results, with a simultaneous webcast available to the public. SAIC, a leader in technology integration with annual revenues of approximately $7.1 billion, emphasizes its role in driving technological transformation across multiple markets. Stakeholders can access a supplemental presentation on the Investor Relations section of the SAIC website.

Science Applications International Corp. (SAIC) has announced a definitive agreement to acquire Koverse, a software company specializing in data management platforms for AI and machine learning. Founded in 2012, Koverse offers scalable solutions essential for government and regulated commercial sectors, addressing challenges in managing complex data. SAIC's CEO, Nazzic Keene, highlighted the transaction's potential to enhance innovative data modernization offerings across defense, civilian, and intelligence communities. Specific transaction details remain undisclosed.

The U.S. Army awarded Science Applications International Corp. (SAIC) a contract valued at $3.6 billion for engineering services related to hardware-in-the-loop (HWIL) and simulation development. This eight-year contract, potentially extendable by six months, allows SAIC to support the development and testing of embedded systems. This marks SAIC's fourth major award for the Army's S3I Directorate, contributing to a total of over $8.1 billion in contracts in the past year. The work will primarily take place in Huntsville, Alabama.

Science Applications International Corp. (NYSE: SAIC) has secured an $800 million contract from the U.S. Army to provide engineering and professional support services for the Army Combat Capabilities Development Command. This five-year contract entails systems modeling and simulation support for various military branches. The contract emphasizes advanced technologies in modeling, simulation, and systems engineering across multiple locations including Redstone Arsenal and Schriever Air Force Base. SAIC's CEO indicated a commitment to enhancing military capabilities through innovative solutions.

Science Applications International Corporation (NYSE: SAIC) announced its fourth-quarter and full-year results for fiscal 2021, reporting a revenue increase of 11% to $1.717 billion for Q4 and $7.056 billion for the full year. Despite challenges from COVID-19, including a revenue impact of $250 million, net income for the year stood at $209 million. The company declared a quarterly dividend of $0.37 per share and continues to focus on long-term shareholder value through strong cash generation. Fiscal 2022 guidance estimates revenue between $7.1 billion and $7.3 billion.