SAIC Awarded $349M Contract to Support U.S. Navy Tactical Networks

Rhea-AI Summary

Science Applications International Corp. (NYSE: SAIC) has secured a $349 million contract from the U.S. Navy to support Afloat and Ashore Tactical Networks (TACNET) over five years. This contract involves systems engineering support, management, and logistics, building on SAIC's previous 15 years of service in this area. The company aims to enhance the Navy's IT modernization initiatives, with work primarily based in San Diego, California. SAIC reported annual revenues of approximately $7.4 billion, highlighting its significant role in defense technology.

Positive

• Awarded a $349 million contract by the U.S. Navy for TACNET support.
• Continuation of support for over 15 years, indicating strong client relations.
• Focus on IT modernization initiatives aligns with defense sector trends.

Negative

• None.

Company will provide systems engineering support to the Naval Information Warfare Center Pacific

RESTON, Va.--(BUSINESS WIRE)-- Science Applications International Corp. (NYSE: SAIC) has been awarded a $349 million contract by the U.S. Navy to continue supporting In-Service Engineering Agent (ISEA) functions for Afloat and Ashore Tactical Networks (TACNET).

“Our expertise in network engineering, modernization, sustainment and logistics positions us to provide long-term support to the U.S. Navy for afloat and ashore networks,” said Bob Genter, president, Defense & Civilian Sector at SAIC. “We have provided services to this program for decades and are excited to help the Navy continue its IT modernization and transformation initiatives.”

Under the five-year contract, SAIC will continue to provide management, engineering, technical, integrated logistics, configuration management, and life cycle support for afloat and ashore TACNET and command, control, communications, computers, and intelligence systems.

For more than 15 years, SAIC has supported the Navy’s TACNET program by providing systems engineering services to help the Navy transmit and receive information to support combat readiness. SAIC will primarily perform work under this contract in San Diego, California.

NIWC Pacific provides technological and engineering support critical to information warfare for the Navy, as well as for the Marine Corps, Air Force, Army and Coast Guard programs. Systems development and support includes basic research and prototype development through systems engineering, and integration to life cycle support of fielded systems.

To learn more about SAIC’s work with the Department of Defense, visit www.saic.com/defense.

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/20230112005055/en/

Thais Hanson

703.676.8215 | publicrelations@saic.com

Source: Science Applications International Corp.

FAQ

What recent contract did SAIC secure with the U.S. Navy?

SAIC secured a $349 million contract to support Afloat and Ashore Tactical Networks (TACNET) for the U.S. Navy.

How long is the contract awarded to SAIC?

The contract awarded to SAIC is for five years.

What services will SAIC provide under the new contract?

SAIC will provide systems engineering support, management, logistics, and configuration management for TACNET.

Where will SAIC primarily perform work for the new contract?

SAIC will primarily perform work under the contract in San Diego, California.

How long has SAIC been supporting the Navy's TACNET program?

SAIC has supported the Navy's TACNET program for over 15 years.