SAIC Awarded Approximately $400 Million in Space and Intelligence Community Contracts in Fiscal Year 2023 Second Quarter

Rhea-AI Summary

Science Applications International Corp. (SAIC) secured approximately $400 million in national security and space contract awards for Q2 FY2023, complementing a prior $319 million contract with the U.S. Air Force. These awards focus on systems integration, new cloud programs, and JADC2 efforts. President Michael LaRouche emphasized SAIC's leadership in digital engineering and transformative technology. With annual revenues around $7.4 billion, SAIC remains a key player in defense and intelligence sectors.

Positive

• Awarded $400 million in national security and space contracts.
• Secured an additional $319 million contract with the U.S. Air Force.
• Focus on systems integration and cloud programs positions SAIC for growth.

Negative

• None.

RESTON, Va.--(BUSINESS WIRE)-- Science Applications International Corp. (NYSE: SAIC) received approximately $400 million in national security and space contract awards for the second quarter of fiscal year 2023 in addition to the previously announced $319M Falconer Air Operations Center Weapon System Sustainment contract with the U.S. Air Force. The contract awards consist largely of systems integration and delivery work, new cloud programs and JADC2 efforts.

“As we accelerate the digital transformation of our customers, we are energized by their desire to partner with SAIC on new cloud efforts for space and intelligence agencies,” said Michael LaRouche, president National Security and Space Sector at SAIC. “This quarter included revolutionary technical awards that set us apart from our peers in critical areas like digital engineering, multi-cloud and JADC2.”

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 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/20220829005104/en/

Media:

Thais Hanson

703.676.8215 | publicrelations@saic.com

Source: Science Applications International Corp.

FAQ

What contracts did SAIC secure in Q2 FY2023?

SAIC secured approximately $400 million in national security and space contract awards.

How much was the previously announced contract with the U.S. Air Force?

The previously announced contract with the U.S. Air Force was worth $319 million.

What areas do the new contracts focus on?

The new contracts primarily focus on systems integration, new cloud programs, and JADC2 efforts.

What is SAIC's annual revenue?

SAIC has annual revenues of approximately $7.4 billion.

Who is the president of SAIC's National Security and Space Sector?

The president of SAIC's National Security and Space Sector is Michael LaRouche.