Science Applications International Corporation - SAIC STOCK NEWS

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.

Science Applications International Corp. (SAIC) has announced the appointment of Dr. Garth Graham to its board of directors, effective March 15. Graham, currently the global head of Healthcare at YouTube and a former U.S. Deputy Assistant Secretary of Health, brings expertise in health equity and digital transformation. His inclusion enhances the board’s diversity, now consisting of 60% women and people of color. Additionally, Mike McGrew has been welcomed as a board fellow, further emphasizing SAIC's commitment to inclusion and innovation in governance.

Science Applications International Corp. (NYSE: SAIC) will release its fourth quarter and full fiscal year 2021 results on March 25, 2021, at market close. A conference call with executive management will begin at 5:00 p.m. Eastern Time to discuss the operational and financial results. The call will be available via webcast on the SAIC Investor Relations website. As a leading technology integrator, SAIC has pro forma annual revenues of approximately $7.1 billion and offers solutions across defense, space, civilian, and intelligence markets.

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.