SAIC Awarded $664 Million in Intelligence and Space Contracts, Including Major Digital Engineering Program

Rhea-AI Summary

Science Applications International Corp. (NYSE: SAIC) announced $664 million in contract awards for Q2 FY2022, including a significant $355 million program for intelligence and defense agencies. These contracts focus on digital engineering, cloud, AI, and cybersecurity solutions, showcasing SAIC’s expertise in serving the intelligence community. Notably, a $90 million award from the U.S. Air Force aims to address small unmanned aircraft threats. SAIC’s president highlighted the company's commitment to delivering innovative solutions amidst complex challenges in national security.

Positive

• Secured $664 million in Q2 FY2022 contract awards, signaling strong demand.
• Received a $355 million contract for digital and systems engineering solutions.
• Awarded a $90 million contract from the U.S. Air Force to enhance defense capabilities.

Negative

• None.

Science Applications International Corp. (NYSE: SAIC) has secured $664 million in fiscal year 2022 second quarter contract awards by space and intelligence community organizations, including a program providing digital and systems engineering solutions for intelligence and defense agencies worth $355 million.

Most of these contracts serve customers in the intelligence community and classified space domain that rely on SAIC for highly-specialized expertise in digital engineering as well as cloud, artificial intelligence, cybersecurity, technology integration, engineering, IT modernization and mission operations.

This quarterly total also includes a previously-announced $90 million award by the U.S. Air Force Life Cycle and Management Center, Force Protection Division to help the U.S. Department of Defense Combatant Commands mitigate small unmanned aircraft systems threats and protect U.S. forces.

“These awards underscore the confidence our customers hold in SAIC,” said Michael LaRouche, president of SAIC’s National Security and Space Sector. “We are a recognized leader in delivering solutions across government and feel privileged to support these intelligence and classified space community missions. We look forward to continuing to help our customers harness the power of digital engineering, cloud, AI, cybersecurity innovation and more with new ideas, bold objectives, and innovative solutions to meet their extremely complex challenges.”

SAIC delivers mission understanding, transformative technology, and trusted people to the U.S. intelligence community. For more information, visit www.saic.com/who-we-serve/intelligence-community.

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. Headquartered in Reston, Virginia, SAIC has pro forma 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/20210819005012/en/

FAQ

What is the total amount of contracts awarded to SAIC in Q2 FY2022?

SAIC secured a total of $664 million in contract awards for Q2 FY2022.

What was the value of the largest contract won by SAIC in this period?

The largest contract was valued at $355 million for intelligence and defense agencies.

Which government agency awarded SAIC a $90 million contract?

The U.S. Air Force awarded SAIC a $90 million contract.

What types of services is SAIC providing under its new contracts?

SAIC is providing services in digital engineering, cloud, artificial intelligence, and cybersecurity.