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Science Applications International Corporation provides technical, engineering, mission IT, enterprise IT and professional services primarily for U.S. government customers. The company operates across defense, space, civilian and intelligence markets, with work that includes secure technology integration, infrastructure modernization, systems sustainment, mission assurance and support for critical national-security and civil-agency operations.
SAIC news commonly covers federal contract awards and task orders, program support for agencies such as the U.S. Navy, NASA and the Government Accountability Office, quarterly and annual financial results, dividends, board and executive changes, and community initiatives connected to veterans and military families.
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.
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Science Applications International Corp. (NYSE: SAIC) will showcase its training and simulation solutions, including its in-SITE microlearning platform, at the 2020 I/ITSEC conference. The company highlights its innovative approaches to training, notably through partnerships with the U.S. Air Force and Army National Guard, achieving significant training milestones during the COVID-19 pandemic. Their solutions are utilized by various military branches, enhancing performance through advanced technologies. Noteworthy contracts include a $737 million support deal with the Air Force and a $750 million task order for the Army National Guard.
Science Applications International Corp. (NYSE: SAIC) has secured a task order valued at $973 million from U.S. Customs and Border Protection (CBP) for the operation and enhancement of its security systems. The task order, awarded under the General Services Administration’s Alliant 2 contract, encompasses a one-year base period with four additional one-year options and a potential six-month extension. SAIC aims to leverage cloud, machine learning, and AI to improve the efficiency of CBP's targeting systems, enhancing the identification of potential security threats.
Science Applications International Corp. (NYSE: SAIC) announced the appointment of Prabu Natarajan as executive vice president and chief financial officer, effective January 4, 2021. Natarajan, who has a strong background from Northrop Grumman, will replace Charlie Mathis, who retired earlier this year. His experience in financial strategy, mergers, and acquisitions positions him to significantly contribute to SAIC's growth strategy and program performance, as highlighted by CEO Nazzic Keene.
Science Applications International Corp. (NYSE: SAIC) has been awarded a position on the U.S. Department of Agriculture Farm Production and Conservation (FPAC) blanket purchase agreement (BPA), which allows them to compete for task orders for IT support services valued at approximately $620 million. This BPA has a duration of five years and aims to enhance and maintain various information systems for the USDA. SAIC will provide extensive IT support, including conservation planning and financial assistance, strengthening its role in supporting USDA's conservation mission.
Science Applications International Corp. (NYSE: SAIC) will release its third quarter fiscal year 2021 results on December 3, 2020. Following the earnings announcement, a conference call will be held at 5 p.m. EST, where management will discuss operational and financial results. The call will be available via webcast on the SAIC Investor Relations website. SAIC, a Fortune 500 technology integrator, has approximately $7.1 billion in pro forma annual revenues, offering solutions in various sectors, including defense, space, and intelligence.
Science Applications International Corp. (NYSE: SAIC) has secured the U.S. Air Force Modeling and Simulation Support Services (AFMS3) 2.0 contract, valued at up to $737 million. The contract will enhance modeling and simulation standards for the Air Force and Department of Defense. SAIC plans to deliver live virtual simulations, improving operational readiness and mission preparedness. This win aligns with SAIC's investments in IT modernization and digital transformation, contributing to the Air Force's Joint All-Domain Command and Control (JADC2) initiative.
Science Applications International Corp. (SAIC) has launched the SAIC R3 portfolio to assist federal government clients in adapting to challenges posed by the COVID-19 pandemic. This suite of solutions helps agencies Respond, Recover, and Restructure by enhancing remote work capabilities, integrating new technologies swiftly, and ensuring safe workplace environments. In a recent survey, 80% of federal executives found it challenging to manage COVID-19 transmission in facilities. The R3 portfolio aims to address these concerns through advanced technology solutions and services, thereby supporting efficient government operations amid ongoing health crises.