Science Applications Intl Corp Stock Price, News & Analysis

Science Applications International Corp. (SAIC) has secured a prime contract valued at approximately $120 million from the U.S. Navy. This contract is designated for providing mission engineering and integration support for the production, testing, and delivery of MK48 heavyweight torpedo fuel tanks, effective from October 2020 with a base performance period of 18 months and four option years. The work will be conducted to meet the requirements of both Navy and foreign military sales customers, bolstering SAIC's role in enhancing naval capabilities.

Science Applications International Corp. (NYSE: SAIC) has appointed John Bonsell as the new senior vice president of Government Affairs, effective immediately. Bonsell, who has previously worked with SAIC and has significant experience in government and defense sectors, will focus on supporting SAIC's strategic objectives through engagement with federal and local officials. He succeeds Tom Eldridge, who will retire in April. The company emphasized its commitment to driving digital transformation across various sectors by leveraging its extensive portfolio and expertise.

Science Applications International Corp. (NYSE: SAIC) will participate in Citi's 2021 Global Industrial Virtual Conference on February 17, 2021. CEO Nazzic Keene and CFO Prabu Natarajan will engage in a Q&A session from 11:20 a.m. to 12:00 p.m. ET. The event will be available via a live audio webcast, which will be accessible for 90 days on SAIC's Investor Relations website.

SAIC has secured an $830 million contract to provide hardware in-the-loop (HWIL) aviation systems engineering services for the U.S. Army's DEVCOM AvMC over a potential 5.5 years. This contract will support systems engineering and integration across various military branches and government entities. Key areas of focus will include life cycle support for both manned and unmanned systems, covering aspects like design, development, and maintenance. SAIC continues to expand its footprint in military modernization efforts, especially in Huntsville, Alabama.

Science Applications International Corp. (NYSE: SAIC) announced its participation in the Cowen and Company 42nd Annual Aerospace/Defense and Industrials Conference. CEO Nazzic Keene and CFO Prabu Natarajan will engage in a Q&A session on February 11, from 9:20 a.m. to 10:00 a.m. ET. A live audio webcast will be accessible via SAIC's Investor Relations website and available for replay for 90 days. SAIC is a technology integrator with approximately $7.1 billion in pro forma annual revenues, specializing in defense, space, civilian, and intelligence markets.

On January 25, 2021, Parsons Corporation (NYSE: PSN) announced its leadership of an industry team, including Leidos (NYSE: LDOS) and SAIC (NYSE: SAIC), for a 10-year, $953 million contract with the U.S. Air Force. This initiative aims to design and maintain Air Base Air Defense (ABAD) systems across Europe and Africa, addressing emerging asymmetric threats. The team will utilize advanced technologies and an open architecture approach to enhance air base defense capabilities, ensuring protection for military assets in contested environments.

Science Applications International Corporation (NYSE: SAIC) reported robust financial results for the third quarter ending October 30, 2020, with revenues increasing 11% to $1.818 billion, driven by acquisitions and new contracts. Operating income rose 17% to $110 million, while diluted earnings per share increased to $1.02. The company experienced a book-to-bill ratio of 2.7, with net bookings around $5.0 billion. However, COVID-19 impacted approximately $60 million in revenue. The Board declared a cash dividend of $0.37 per share, payable on January 29, 2021.