SAIC Awarded $348 Million in Space and Intelligence Community Contracts in Fiscal Year 2022 Third Quarter

Rhea-AI Summary

Science Applications International Corp. (SAIC) announced $348 million in contract awards for Q3 FY2022 from space and intelligence organizations. Noteworthy is the $100 million digital engineering contract for a classified space customer and an initial $46 million IT solutions contract with potential for multi-year growth. These contracts reflect SAIC's strategy to enhance value through integrated solutions. With annual revenues around $7.1 billion, SAIC emphasizes its innovative capabilities in digital engineering, IT modernization, and AI to support national security.

Positive

• Secured $348 million in contracts for Q3 FY2022.
• Includes a $100 million digital engineering contract.
• Initial $46 million IT solutions contract with multi-year growth potential.
• Aligns with SAIC's long-term strategy for winning solution delivery contracts.

Negative

• None.

RESTON, Va.--(BUSINESS WIRE)-- Science Applications International Corp. (NYSE: SAIC) received $348 million in contract awards from space and intelligence community organizations for the third quarter of fiscal year 2022.

Proof points of SAIC’s successful investment in meaningful and transformational solutions, these awards include two programs that leverage digital engineering and digital transformation. First, SAIC will deliver digital engineering for a classified space customer valued at $100 million. Second, SAIC will deliver IT solutions for a classified customer with an initial award of $46 million and multi-year growth potential.

These awards are consistent with SAIC’s multi-year strategy to expand its value to customers and stakeholders through winning solution delivery and system integration contracts. The digital engineering expertise critical in contracts like this quarter’s $100 million award are also leveraged in the systems delivery and solutions work reported in last quarter’s $355 million contract within the classified space realm.

“SAIC’s National Security and Space Sector continues to grow by offering customers in the space and intelligence community highly-valued alternatives for integration and delivery of solutions and systems,” said Michael LaRouche, president of SAIC’s National Security and Space Sector. “Our unique customer domain knowledge and partnerships with commercial industry are setting us apart from our peers. These wins transform our portfolio, align to our growth strategy, and most importantly, allow SAIC to deliver bold outcomes to achieve our clients’ objectives faster.”

SAIC delivers integrated solutions and systems through mission understanding and transformative technology. Digital engineering, IT modernization, and artificial intelligence are core innovation areas within SAIC and are key to advancing our customers missions. For more information, visit www.saic.com/space and www.saic.com/ic.

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 more than 26,500 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 $7.1 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/20211118006130/en/

Media Contact:

Brad Bass

240.418.0168 | publicrelations@saic.com

Source: Science Applications International Corp.

FAQ

What was the total contract value awarded to SAIC in Q3 FY2022?

SAIC received $348 million in contract awards for Q3 FY2022.

What are the key contracts included in SAIC's recent awards?

The key contracts include a $100 million digital engineering project and a $46 million IT solutions contract.

How does SAIC's recent success impact its growth strategy?

The recent contracts support SAIC's strategy to enhance value through integrated solutions in the space and intelligence sectors.

What are the main areas of innovation for SAIC?

SAIC focuses on digital engineering, IT modernization, and artificial intelligence as key areas of innovation.