SAIC Awarded Approximately $950M in Space and Intelligence Contracts in Fiscal Year 2023 Third Quarter

Rhea-AI Summary

SAIC has secured approximately $950 million in contract awards in the third quarter of fiscal year 2023, focusing on space and intelligence sectors. These awards include a significant project with the Missile Defense Agency for analysis efforts. The company aims to leverage its diverse capabilities including secure cloud, C5ISR, machine learning, and digital engineering, enhancing its position as a key partner for national security. With annual revenues around $7.4 billion, SAIC emphasizes its commitment to delivering innovative solutions for critical missions.

Positive

• Secured $950 million in contract awards in Q3 FY 2023.
• Strengthened position in space and intelligence sectors.
• Developed products aiding national security decision-making.

Negative

• None.

Awards reflect work in intelligence, space systems, JADC2 efforts and model-based systems engineering

RESTON, Va.--(BUSINESS WIRE)-- Science Applications International Corp. (NYSE: SAIC) received approximately $950 million in space and intelligence contract awards during the third quarter of fiscal year 2023.

“We are honored by the trust our customers have placed in us. These important contract wins create a confluence of capabilities that build on one another to position SAIC as an exceptional partner to our space and intelligence customers,” said Michael LaRouche, president National Security and Space Sector at SAIC. “When dealing with critical problem sets like the next generation space systems, JADC2 or hypersonic threats, we must deliver solutions that combine the full breadth of SAIC’s resources. Our diversity of talent and capabilities drive novel applications that are resonating with our customers for their critical missions.”

Third quarter awards include a Missile Defense Agency (MDA) Quick Reaction Team analysis effort. SAIC engineers have developed products used by the MDA, the combatant commands and even Congress to inform understanding and decision-making on national threats. Other wins leverage the company’s expertise in secure cloud, C5ISR, machine learning and artificial intelligence, digital engineering and enterprise IT.

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/20221122005140/en/

Media:

Thais Hanson

703.676.8215 | publicrelations@saic.com

Source: Science Applications International Corp.

FAQ

What were SAIC's recent contract awards for Q3 FY 2023?

SAIC received approximately $950 million in contract awards focusing on space and intelligence efforts.

How does SAIC plan to utilize its recent contract wins?

SAIC plans to leverage its diverse capabilities in secure cloud, C5ISR, machine learning, and digital engineering to enhance solutions for critical missions.

What is SAIC's annual revenue?

SAIC has annual revenues of approximately $7.4 billion.