SAIC Awarded $2.6B Federal Aviation Administration IDIQ Contract to Support Programs

Rhea-AI Summary

Science Applications International Corp. (NYSE: SAIC) has secured a prime position on the Federal Aviation Administration (FAA) Systems Engineering and Technical Innovative Solutions (SETIS) indefinite delivery, indefinite quantity contract valued at $2.3 billion. This contract spans 36 months with options extending it up to nine years. SAIC aims to enhance FAA's airspace systems through advanced engineering and technology solutions. Since 2010, SAIC has provided extensive support to the FAA, focusing on air traffic control, communication, navigation, and surveillance.

Positive

• Awarded a prime position on a $2.3 billion contract with the FAA, enhancing revenue opportunities.
• Contract spans up to nine years, offering long-term growth potential.
• SAIC has a solid track record of supporting FAA since 2010.

Negative

• None.

Company will provide a broad range of systems engineering and technical support

RESTON, Va.--(BUSINESS WIRE)-- Science Applications International Corp. (NYSE: SAIC) has been awarded a prime position to continue services through the Federal Aviation Administration (FAA) Systems Engineering and Technical Innovative Solutions (SETIS) indefinite delivery, indefinite quantity (IDIQ) contract.

“SAIC supports the FAA’s mission to provide the safest and most efficient airspace through continuous improvements to communications, navigation and surveillance systems,” said Bob Genter, president, Defense & Civilian Sector at SAIC. “Our focus is on delivering advanced solutions in systems engineering, research, management, development and analysis that enable the FAA’s aviation programs.”

SAIC is one of 15 companies, including five large businesses and ten small businesses, selected for a prime position on the $2.3 billion shared-ceiling, multi-award indefinite-delivery, indefinite-quantity contract. The contract has a base period of performance of 36 months, followed by a three-year option and two two-year option periods. SAIC will perform work for this contract primarily in the metropolitan Washington, D.C. area and at the FAA Technical Center in Atlantic City, New Jersey.

Since 2010, SAIC has provided the FAA with a broad range of research, service analysis, strategic planning, technical, financial, programmatic support and systems engineering on programs including air traffic control (ATC), avionics, communication, navigation and surveillance (CNS), modeling and simulation. SAIC also supports technology infusion for data science, artificial intelligence and machine learning, advanced air mobility, and unmanned aerial systems. In addition, the company provides services to support joint research programs, including the FAA and NASA UAS Traffic Management (UTM) program.

About SAIC

SAIC^® is a premier Fortune 500® technology integrator driving our nation’s technology transformation. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in engineering, digital, artificial intelligence and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective and efficient solutions that are critical to achieving our customers' missions.

We are approximately 26,000 strong; driven by mission, united by purpose, and inspired by opportunities. SAIC is an Equal Opportunity Employer, fostering a culture of diversity, equity and inclusion, which is core to our values and important to attract and retain exceptional talent. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.4 billion.​​​​ For more information, visit saic.com. For ongoing news, please visit our newsroom.

Forward-Looking Statements

Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.com or on the SEC’s website at sec.gov. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230111005072/en/

Thais Hanson

703.676.8215 | publicrelations@saic.com

Source: Science Applications International Corp.

FAQ

What is the value of the new FAA contract awarded to SAIC?

The new FAA contract awarded to SAIC is valued at $2.3 billion.

How long will SAIC provide services under the FAA contract?

SAIC will provide services under the FAA contract for an initial period of 36 months, with options for three additional years.

What areas will SAIC focus on with the FAA contract?

SAIC will focus on systems engineering and technical support for air traffic control, communication, navigation, and surveillance systems.

When did SAIC start supporting the FAA?

SAIC has been providing support to the FAA since 2010.