DMOST
4 years ago
SAIC Wins $582 Million in Intelligence and Space Contracts
RESTON, Va.--(BUSINESS WIRE)--
Science Applications International Corp. (SAIC) has secured $582 million in fiscal year 2020 third quarter contract awards by space and intelligence community customers, including two sizeable contracts worth a combined $302 million and a $68 million contract from the previously-announced Zeus award. Zeus is the follow-on contract for the Innovative GEOINT Application Provider Program (IGAPP).
Most of the contracts serve customers in the intelligence community and classified space domain that rely on SAIC for highly-specialized expertise in technology integration, engineering, IT modernization, and mission operations.
“We deliver a breadth of expertise to our space and intel customers that accelerates vital capability,” said Michael LaRouche, executive vice president and general manager of SAIC’s National Security Customer Group. “We are honored these customers continue to choose SAIC and our talented employees. Every day, we offer new ideas and innovative solutions for extremely complex challenges. These awards are a testament to the dedication our team brings to the mission and highlight our growth within the space and intelligence communities.”
SAIC is one of the largest systems engineering and integration providers across the U.S. space and intelligence communities. Recent successes have combined domain and mission understanding with mature technical offerings like digital engineering, app brokerage, and data science.
About SAIC
SAIC® is a premier technology integrator solving our nation’s most complex modernization and readiness challenges. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes high-end solutions in engineering, IT, 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.
We are 23,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has pro forma annual revenues of approximately $6.5 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/20191126005711/en/
GO SAIC[/b]
"PEACE"
DMOST
4 years ago
SAIC Wins Position on Environmental Protection Agency Contract
Company to provide outreach and technical support services for an Environmental Protection Agency program designed to help agencies and private organizations comply with Clean Air Act
The Environmental Protection Agency awarded Science Applications International Corp. (NYSE: SAIC) a position on an indefinite-delivery, indefinite-quantity contract to provide outreach and technical support services to an Environmental Protection Agency program designed to help agencies and private organizations comply with Clean Air Act. The multiple-award contract is worth more than $81 million over a five-year period for all awardees.
"We are honored to win this new and important award with the EPA, which expands SAIC’s current Greenhouse Gas Reporting Program contract," said Bob Genter, executive vice president and general manager of the Civilian Markets Customer Group. "We are excited to apply our broad environmental expertise with engineering, scientific, and economic capabilities addressing international, federal, state, and local greenhouse gas challenges."
The GHG program encompasses six functional areas that include technical analytical, data and analysis, policy and program, communication and training, data systems and information technology, and general support. Task orders will involve analyzing strategies to mitigate emissions and sinks of greenhouse gases, produce reports and support outreach activities via agency-run websites, educational programs and public events.
About SAIC
SAIC® is a premier technology integrator solving our nation’s most complex modernization and readiness challenges. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes high-end solutions in engineering, IT, 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.
We are 23,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has pro forma annual revenues of approximately $6.5 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/20191127005117/en/
Contacts
SAIC Media Contact:
Lauren Presti
703-676-8982
lauren.a.presti@saic.com
GO SAIC
"PEACE"
DMOST
4 years ago
SAIC Wins U.S. Army Human Resources Command Cloud Contract
[Business Wire]
Business Wire•November 14, 2019
RESTON, Va.--(BUSINESS WIRE)--
Company will assess, modernize, and migrate 89 Army Human Resources applications to a commercial cloud solution.
The U.S. Army selected Science Applications International Corp. (SAIC) to modernize its information technology (IT) infrastructure by migrating enterprise applications to a cloud environment. The Army Human Resources Command Cloud Computing Environment (HRC2E) contract is worth more than $41 million over three years and was competed under the Information Technology Enterprise Solutions - 3 Services (ITES-3S) contract.
“We are excited and pleased to work with the Army/HRC to modernize their legacy systems and help steward their applications to a cloud environment. This initiative is a critical step towards the Army’s goal to capitalize on cost savings, agility, and innovations as they successfully transition into a commercial cloud environment,” said Jim Scanlon, SAIC executive vice president and general manager of the Defense Systems Customer Group.
The contract calls for SAIC to assess, modernize, and migrate 89 Army Human Resource applications to a commercial cloud solution. By modernizing its IT, the Army will refactor, re-architect, rebuild and/or replace internal application components, which results in improved cybersecurity and application performance, lower total cost of ownership, and/or lower operations and maintenance costs.
“This new contract is another important step in SAIC’s efforts to deliver first-class IT modernization solutions to the U.S. government,” said Coby Holloway, SAIC vice president of IT Modernization. “By helping our customers on their digital transformation journey to make use of the best technology has to offer, we’re empowering the Army and others to focus on what matters most — delivering outstanding mission outcomes.”
About SAIC
SAIC® is a premier technology integrator solving our nation’s most complex modernization and readiness challenges. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes high-end solutions in engineering, IT, 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.
We are 23,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has pro forma annual revenues of approximately $6.5 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/20191114005107/en/
Contact:
SAIC Media Contact:
Lauren Presti
703-676-8982
lauren.a.presti@saic.com
https://finance.yahoo.com/news/saic-wins-u-army-human-121500106.html
GO SAIC
"PEACE"
DMOST
5 years ago
SAIC Wins $85 Million Contract as the City of Anaheim’s IT Service Provider
[Business Wire]
Business Wire•September 17, 2019
RESTON, Va.--(BUSINESS WIRE)--
Science Applications International Corp. (SAIC) won an $85 million, eight-year prime contract to provide information technology services to the city of Anaheim, California. SAIC’s new service delivery model will provide high-quality IT support and maintenance services for the city’s infrastructure, applications, and workplace solutions.
“We are excited to partner with the city of Anaheim to deliver world-class IT managed services that will enhance capabilities and performance across city departments and improve customer services,” said Bob Genter, SAIC executive vice president and general manager of the Civilian Markets Customer Group. “Our advanced delivery model will provide flexible, transparent, and innovative services while maximizing cost-efficiencies.”
“While not always obvious, information technology is behind everything we do for our residents, businesses and visitors,” said Mike Lyster, chief communications officer for the city of Anaheim. “It is critical for public safety, our planning process and for managing projects in our city. This contract will help us do everything we do more efficiently and cost effectively for those we serve.”
The fixed-price contract has a four-year initial term and two, two-year optional extensions, for a total of eight years. Work will be performed primarily on-site in Anaheim, with some work offered to remote sites within the continental United States.
About SAIC
SAIC® is a premier technology integrator solving our nation’s most complex modernization and readiness challenges. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes high-end solutions in engineering, IT, 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.
We are 23,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has pro forma annual revenues of approximately $6.5 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/20190916005541/en/
Contact:
SAIC Media:
Lauren Presti
703-676-8982
lauren.a.presti@saic.com
GO SAIC
"PEACE"
DMOST
5 years ago
SAIC Wins Prime Spots on $812 Million-Worth of National Security and Intelligence Contracts
Science Applications International Corp. (SAIC) was awarded $812 million in contracts to support various U.S. government national security and intelligence activities during late July. SAIC will provide services and solutions to customers with requirements for highly-specialized technical and operational expertise in technology integration, engineering, and IT modernization.
“SAIC is offering industry-leading, innovative services and solutions to customers, and these awards reflect the value SAIC is bringing to the community and the trust customers have in SAIC,” said Michael LaRouche, executive vice president and general manager of SAIC’s National Security Customer Group. “The SAIC team is privileged to partner with the national intelligence community on high-consequence missions that are truly making a difference in the world.”
These contract awards come just six months after SAIC’s completed acquisition of Engility as part of a broader company strategy to expand its intelligence community portfolio.
“Following the successfully integration of Engility, we have quickly realized our many strengths as a combined organization and together, we are delivering critical solutions on missions of national importance,” said Josh Jackson, executive vice president and general manager of the Solutions & Technology Group. “Our solutions, services, and technologies leverage repeatable methodologies, process rigor, automation, and mission expertise. We are dedicated to continuously evolve our technologies to bring the best and most valuable solutions to our customers.”
SAIC’s growing portfolio continues to attract and retain the most talented individuals in the government services industry and is the career destination of choice for many who choose to serve the nation and build careers. Learn more about our current positions.
About SAIC
SAIC® is a premier technology integrator solving our nation’s most complex modernization and readiness challenges. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes high-end solutions in engineering, IT, 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.
We are 23,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has pro forma annual revenues of approximately $6.5 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/20190821005572/en/
Contact:
SAIC Media Contact:
Lauren Presti
703-676-8982
lauren.a.presti@saic.com
GO SAIC
"PEACE"
DMOST
5 years ago
SAIC Receives Prestigious Defense Security Award
RESTON, Va.--(BUSINESS WIRE)--
Two SAIC facilities earn the James S. Cogswell Outstanding Industrial Security Achievement Award from the Defense Security Service
Science Applications International Corp. (SAIC) announced today that two facilities, located in San Bernardino, California and Rosslyn, Virginia, have received the 2019 James S. Cogswell Outstanding Industrial Security Achievement Award from the Defense Security Service.
“We are honored to have two facilities selected from thousands of cleared facilities from across the country. This prestigious award is the result of our employees’ commitment to handling our customers’ sensitive information with care. Security comes first and our team understands that,” said Ron Gembarosky, SAIC vice president of security.
SAIC’s facilities were among the 51 selected from approximately 13,000 cleared facilities to receive the Cogswell award. The recognized facilities in San Bernardino and Rosslyn support government programs that deliver space systems, engineering, cloud, cybersecurity, and IT modernization solutions.
To be selected, a DSS Industrial Security Representative nominated SAIC’s facilities that had at a minimum two consecutive superior industrial security review ratings and showed a sustained degree of excellence and innovation in their overall security program management, implementation, and oversight. DSS makes the final selections.
The Cogswell award was established in 1966 and is named in honor of the late Air Force Col. James S. Cogswell, who was the first chief of the unified office of Industrial Security. Cogswell was responsible for developing the basic principles of the Industrial Security Program, which includes an emphasis on the partnership between industry and government to protect classified information. This partnership ultimately ensures the greatest protection for the U.S. warfighter and the nation’s classified information.
About SAIC
SAIC® is a premier technology integrator solving our nation’s most complex modernization and readiness challenges. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes high-end solutions in engineering, IT, 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.
We are 23,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has pro forma annual revenues of approximately $6.5 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/20190703005530/en/
Contact:
SAIC Media Contact:
Lauren Presti
703-676-8982
lauren.a.presti@saic.com
GO SAIC
"PEACE"
DMOST
5 years ago
Hedge Funds Have Never Been This Bullish On Science Applications International Corp (SAIC)
A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended March 31, so let’s proceed with the discussion of the hedge fund sentiment on Science Applications International Corp (NYSE:SAIC).
Is Science Applications International Corp (NYSE:SAIC) a buy right now? Investors who are in the know are turning bullish. The number of bullish hedge fund bets advanced by 4 in recent months. Our calculations also showed that saic isn't among the 30 most popular stocks among hedge funds.
In today’s marketplace there are a large number of tools market participants use to size up publicly traded companies. A couple of the most innovative tools are hedge fund and insider trading signals. We have shown that, historically, those who follow the best picks of the elite money managers can outpace the S&P 500 by a superb margin (see the details here).
Let's view the new hedge fund action surrounding Science Applications International Corp (NYSE:SAIC).
What have hedge funds been doing with Science Applications International Corp (NYSE:SAIC)?
At the end of the first quarter, a total of 28 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 17% from the previous quarter. Below, you can check out the change in hedge fund sentiment towards SAIC over the last 15 quarters. So, let's see which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
Among these funds, Rubric Capital Management held the most valuable stake in Science Applications International Corp (NYSE:SAIC), which was worth $49.4 million at the end of the first quarter. On the second spot was Horizon Asset Management which amassed $41.4 million worth of shares. Moreover, Millennium Management, AQR Capital Management, and Citadel Investment Group were also bullish on Science Applications International Corp (NYSE:SAIC), allocating a large percentage of their portfolios to this stock.
Consequently, key hedge funds have been driving this bullishness. Rubric Capital Management, managed by David Rosen, established the most valuable position in Science Applications International Corp (NYSE:SAIC). Rubric Capital Management had $49.4 million invested in the company at the end of the quarter. Scott Kapnick's HPS Investment Partners also made a $24.3 million investment in the stock during the quarter. The other funds with brand new SAIC positions are Jeffrey Jacobowitz's Simcoe Capital Management, Richard S. Meisenberg's ACK Asset Management, and Clint Carlson's Carlson Capital.
Let's check out hedge fund activity in other stocks - not necessarily in the same industry as Science Applications International Corp (NYSE:SAIC) but similarly valued. We will take a look at Americold Realty Trust (NYSE:COLD), Life Storage, Inc. (NYSE:LSI), MAXIMUS, Inc. (NYSE:MMS), and CACI International Inc (NYSE:CACI). This group of stocks' market valuations match SAIC's market valuation.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position COLD,27,907693,11 LSI,15,274431,2 MMS,20,288188,-2 CACI,13,132826,-5 Average,18.75,400785,1.5 [/table]
View table here if you experience formatting issues.
As you can see these stocks had an average of 18.75 hedge funds with bullish positions and the average amount invested in these stocks was $401 million. That figure was $356 million in SAIC's case. Americold Realty Trust (NYSE:COLD) is the most popular stock in this table. On the other hand CACI International Inc (NYSE:CACI) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks Science Applications International Corp (NYSE:SAIC) is more popular among hedge funds. Our calculations showed that top 20 most popular stocks among hedge funds returned 1.9% in Q2 through May 30th and outperformed the S&P 500 ETF (SPY) by more than 3 percentage points. Hedge funds were also right about betting on SAIC, though not to the same extent, as the stock returned 1.4% during the same period and outperformed the market as well.
Disclosure: None. This article was originally published at Insider Monkey.
https://finance.yahoo.com/news/hedge-funds-never-bullish-science-012513110.html
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"PEACE"
DMOST
5 years ago
Engility, an SAIC Subsidiary, Selected for $106 Million Defense Intelligence Agency Contract
The Defense Intelligence Agency’s National Media Exploitation Center awarded Engility Corp, a subsidiary of Science Applications International Corp. (SAIC), a single-award, indefinite-delivery, indefinite-quantity contract worth potentially $106 million. As part of the new contract, SAIC will continue to provide media management and analysis work, and will expand these services to include all of the DIA Science and Technology Directorate.
“Partnering with the DIA is a privilege we take seriously,” said Michael LaRouche, executive vice president and general manager of SAIC’s National Security Customer Group. “Expanding our services to the entire Science and Technology Directorate offers our team of intelligence and data analytics experts a great opportunity to bring value and technological innovation to even more missions.”
The IDIQ carries a potential 10-year period of performance. The contract supports NMEC's training, document and media management, program support, and related intelligence operations. The team assists NMEC with document and media exploitation processes like data acquisition, ingest, processing, reporting, and timely dissemination to ensure the chain of command is immediately informed of any changes or developments based on media gathered by the U.S. military and intelligence community.
The contract award comes on the heels of SAIC’s $2.5 billion acquisition of Engility, completed in January 2019, as part of its strategy to expand its intelligence community portfolio.
About SAIC
SAIC® is a premier technology integrator solving our nation’s most complex modernization and readiness challenges. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes high-end solutions in engineering, IT, 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.
We are 23,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has pro forma annual revenues of approximately $6.5 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/20190619005487/en/
Contact:
SAIC Media Contact:
Lauren Presti
703-676-8982
lauren.a.presti@saic.com
GO SAIC
"PEACE"
DMOST
5 years ago
SAIC Announces First Quarter of Fiscal Year 2020 Results
[Business Wire]
Business Wire•June 6, 2019
RESTON, Va.--(BUSINESS WIRE)--
Revenues: $1.6 billion; 37% revenue growth
Diluted earnings per share: $0.92; Adjusted diluted earnings per share(1): $1.36
Adjusted EBITDA(1) as a % of revenues: 8.3%
Cash flows provided by operating activities: $178 million
Contract awards of $1.9 billion, including $300 million of single award IDIQ value; Net bookings of $1.4 billion
Repurchased 591 thousand shares for $44 million
Science Applications International Corporation (SAIC), a leading technology integrator providing high-end solutions in engineering, IT, and mission solutions across the defense, space, civilian, and intelligence markets, today announced results for the first quarter ended May 3, 2019.
“SAIC is off to a strong start to fiscal year 2020, keeping our attention on strong operational performance while continuing the integration of Engility," said SAIC CEO-Elect, Nazzic Keene. "The transition of CEO responsibilities has gone smoothly while executing our business strategy to accelerate sustained profitable growth through our newly acquired capabilities, talent, and customer access."
First Quarter of Fiscal Year 2020: Summary Operating Results
Three Months Ended
May 3, 2019 Percent
change May 4, 2018
(in millions, except per share amounts)
Revenues $ 1,615 37 % $ 1,175
Operating income 93 41 % 66
Operating income as a percentage of revenues 5.8 % 20 bps 5.6 %
Adjusted operating income(1) 101 53 % 66
Adjusted operating income as a percentage of revenues 6.3 % 70 bps 5.6 %
Net income attributable to common stockholders 55 12 % 49
EBITDA(1) 126 66 % 76
EBITDA as a percentage of revenues 7.8 % 130 bps 6.5 %
Adjusted EBITDA(1) 134 76 % 76
Adjusted EBITDA as a percentage of revenues 8.3 % 180 bps 6.5 %
Diluted earnings per share $ 0.92 (19 )% $ 1.13
Adjusted diluted earnings per share(1) $ 1.36 11 % $ 1.23
Net cash provided by operating activities $ 178 102 % $ 88
Free cash flow(1) $ 169 106 % $ 82
(1)Non-GAAP measure, see Schedule 5 for information about this measure.
Revenues for the quarter increased $440 million, or 37%, compared to the prior year quarter due to the acquisition of Engility. Excluding acquired revenues, revenues contracted 2.8%, attributable to humanitarian relief materials in the prior year quarter and the effect of acquisition related revenue dis-synergies.
Operating income as a percentage of revenues of 5.8%, increased from 5.6% in the comparable prior year period, due to the acquisition of Engility, cost synergies related to the acquisition, and improved performance across our portfolio, partially offset by higher costs associated with the acquisition and integration of Engility.
Net income attributable to common stockholders for the quarter increased $6 million as compared to the same period in the prior year primarily due to increased operating income ($24 million, net of tax), partially offset by higher interest expense and a higher effective tax rate.
Adjusted EBITDA(1) as a percentage of revenues for the quarter increased to 8.3%, compared to 6.5% for the prior year quarter, driven by the acquisition of Engility, cost synergies related to the acquisition, and improved performance across our portfolio including higher net favorable changes in estimates.
Diluted earnings per share was $0.92 for the quarter and adjusted diluted earnings per share(1) was $1.36. The weighted-average diluted shares outstanding during the quarter was 60 million shares.
(1)Non-GAAP measure, see Schedule 5 for information about this measure.
Cash Generation and Capital Deployment
Cash flows provided by operating activities for the first quarter were $178 million, compared to $88 million during the same period in the prior year. The improvement is primarily due to customer collections recouped from the U.S. federal government partial shutdown that occurred in the prior quarter, strong customer collections across several programs, and cash provided from the operating activities of Engility.
During the quarter, SAIC deployed $70 million of capital, consisting of $44 million in plan share repurchases (591 thousand shares) under SAIC's previously announced share repurchase program, $23 million in cash dividends, and a $3 million mandatory term loan repayment.
Quarterly Dividend Declared
Subsequent to quarter end, the Company’s Board of Directors declared a cash dividend of $0.37 per share of the Company’s common stock payable on July 26, 2019 to stockholders of record on July 12, 2019. SAIC intends to continue paying dividends on a quarterly basis, although the declaration of any future dividends will be determined by the Board of Directors each quarter and will depend on earnings, financial condition, capital requirements and other factors.
New Business Awards
Contract awards for the quarter were $1.9 billion, including approximately $300 million from single-award indefinite-delivery, indefinite-quantity (IDIQ) value. Net bookings for the quarter were approximately $1.4 billion, which reflects a book-to-bill ratio of 0.9. Of the net bookings for the quarter, 70% were for new business. SAIC’s estimated backlog of signed business orders at the end of the quarter was approximately $13.6 billion of which $3.0 billion was funded.
SAIC was awarded the following contracts during the quarter:
U.S. Intelligence Community: SAIC was awarded a mix of recompete and new business contracts and task orders valued at approximately $300 million, if all options are exercised, by the U.S. national security, space, and intelligence customers. Although these customers and the specific nature of these contracts are classified, they all encompass strategic, end-to-end services that help bolster national security.
Notable Recompete Awards:
NASA: SAIC was awarded NASA's Safety and Mission Assurance Engineering Contract (SMAEC) II worth up to $292 million. Under this contract, SAIC will continue to provide safety engineering, reliability engineering, quality engineering, quality assurance, and software assurance in support of NASA programs and projects. The contract has a five year period of performance, if all options are exercised.
The U.S. Air Force: SAIC was awarded a $58 million contract by the Air Force Research Laboratory to research laser bioeffects, advance vision science, conduct modeling and simulation, and perform safety engineering. The Optical Radiation Bioeffects and Safety contract enhances airman combat survivability by enabling U.S. forces to counter optical hazards and threats. The contract has a 75-month period of performance.
The U.S. Navy: SAIC was awarded a prime position on a $98 million multi-award IDIQ contract to provide support to the Department of Defense Air Traffic Control and Landing Systems, as well as developmental programs such as the Joint Precision Approach and Landing Systems (JPALS). The company will compete for task orders to support the Naval Air Warfare Center Aircraft Division at Patuxent River, Maryland. The contract has a five-year ordering period.
Notable New Business Awards:
The Defense Threat Reduction Agency (DTRA): SAIC was awarded a position on the $535 million DTRA IT Service Design multiple-award IDIQ contract to integrate IT services across DTRA. As one of five awardees, SAIC will compete for task orders over a 10-year period of performance, if all options are exercised.
The U.S. Marine Corps: SAIC was awarded a prime position on the Marine Air-Ground Task Force Training Systems Support multiple-award IDIQ contact. The company will compete for task orders to support pre-deployment training programs to Marine Corps operating forces to improve Marine warfighting skills. The contract is valued at $245 million and has a 10-year period of performance.
Webcast Information
SAIC management will discuss operations and financial results in an earnings conference call beginning at 8:00 a.m. Eastern time on June 6, 2019. The conference call will be webcast simultaneously to the public through a link on the Investor Relations section of the SAIC website (http://investors.saic.com). We will be providing webcast access only – “dial-in” access is no longer available. Additionally, a supplemental presentation will be available to the public through links to the Investor Relations section of the SAIC website. After the call concludes, an on-demand audio replay of the webcast can be accessed on the Investor Relations website.
About SAIC
SAIC® is a premier technology integrator solving our nation’s most complex modernization and readiness challenges. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes high-end solutions in engineering, IT, 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.
We are 23,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has pro forma annual revenues of approximately $6.5 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 www.saic.com or on the SEC’s website at www.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.
Schedule 1:
SCIENCE APPLICATIONS INTERNATIONAL CORPORATION
CONDENSED AND CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
Three Months Ended
May 3, 2019 May 4, 2018
(in millions, except per share amounts)
Revenues $ 1,615 $ 1,175
Cost of revenues 1,435 1,074
Selling, general and administrative expenses 77 35
Acquisition and integration costs 10 —
Operating income 93 66
Interest expense 25 12
Other (income) expense, net (2 ) (1 )
Income before income taxes 70 55
Provision for income taxes (14 ) (6 )
Net income $ 56 $ 49
Net income attributable to non-controlling interest 1 —
Net income attributable to common stockholders $ 55 $ 49
Weighted-average number of shares outstanding:
Basic 59.3 42.4
Diluted 60.0 43.4
Earnings per share:
Basic $ 0.93 $ 1.16
Diluted $ 0.92 $ 1.13
Schedule 2:
SCIENCE APPLICATIONS INTERNATIONAL CORPORATION
CONDENSED AND CONSOLIDATED BALANCE SHEETS
(Unaudited)
May 3, 2019 February 1, 2019
(in millions)
ASSETS
Current assets:
Cash and cash equivalents $ 151 $ 237
Receivables, net 1,039 1,050
Inventory, prepaid expenses and other current assets 127 146
Total current assets 1,317 1,433
Goodwill 2,120 2,120
Intangible assets, net 778 803
Property, plant, and equipment, net 103 103
Other assets 289 104
Total assets $ 4,607 $ 4,563
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable and accrued liabilities $ 714 $ 632
Accrued payroll and employee benefits 259 241
Long-term debt, current portion 37 24
Total current liabilities 1,010 897
Long-term debt, net of current portion 1,902 2,065
Other long-term liabilities 222 102
Total common stockholders' equity 1,462 1,485
Non-controlling interest 11 14
Total stockholders' equity 1,473 1,499
Total liabilities and stockholders' equity $ 4,607 $ 4,563
Schedule 3:
SCIENCE APPLICATIONS INTERNATIONAL CORPORATION
CONDENSED AND CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Three Months Ended
May 3, 2019 May 4, 2018
(in millions)
Cash flows from operating activities:
Net income $ 56 $ 49
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 36 11
Deferred income taxes 9 —
Stock-based compensation expense 8 8
Increase (decrease) resulting from changes in operating assets and liabilities:
Receivables 11 8
Inventory, prepaid expenses and other current assets 16 7
Other assets 11 (6 )
Accounts payable and accrued liabilities 20 (24 )
Accrued payroll and employee benefits 18 34
Other long-term liabilities (7 ) 1
Net cash provided by operating activities 178 88
Cash flows from investing activities:
Expenditures for property, plant, and equipment (9 ) (6 )
Purchases of marketable securities (21 ) —
Net cash used in investing activities (30 ) (6 )
Cash flows from financing activities:
Dividend payments to stockholders (23 ) (14 )
Principal payments on borrowings (153 ) (8 )
Issuances of stock 2 2
Stock repurchased and retired or withheld for taxes on equity awards (56 ) (53 )
Debt issuance costs — (1 )
Distributions to non-controlling interest (4 ) —
Net cash used in financing activities (234 ) (74 )
Net (decrease) increase in cash, cash equivalents and restricted cash (86 ) 8
Cash, cash equivalents and restricted cash at beginning of period 246 152
Cash, cash equivalents and restricted cash at end of period $ 160 $ 160
Schedule 4:
SCIENCE APPLICATIONS INTERNATIONAL CORPORATION
BACKLOG
(Unaudited)
The estimated value of our total backlog as of the dates presented was:
May 3, 2019 February 1, 2019
Funded backlog $ 2,982 $ 2,753
Negotiated unfunded backlog 10,587 11,048
Total backlog $ 13,569 $ 13,801
Backlog represents the estimated amount of future revenues to be recognized under negotiated contracts and task orders as work is performed and excludes contract awards which have been protested by competitors until the protest is resolved in our favor. SAIC segregates backlog into two categories, funded backlog and negotiated unfunded backlog. Funded backlog for contracts with government agencies primarily represents contracts for which funding is appropriated less revenues previously recognized on these contracts, and does not include the unfunded portion of contracts where funding is incrementally appropriated or authorized by the U.S. government and other customers even though the contract may call for performance over a number of years. Funded backlog for contracts with non-government agencies represents the estimated value of contracts which may cover multiple future years under which SAIC is obligated to perform, less revenues previously recognized on these contracts. Negotiated unfunded backlog represents the estimated future revenues to be earned from negotiated contracts for which funding has not been appropriated or authorized, and unexercised priced contract options. Negotiated unfunded backlog does not include any estimate of future potential task orders expected to be awarded under indefinite delivery, indefinite quantity (IDIQ), U.S. General Services Administration (GSA) schedules or other master agreement contract vehicles.
Schedule 5:
SCIENCE APPLICATIONS INTERNATIONAL CORPORATION
NON-GAAP FINANCIAL MEASURES
(Unaudited)
This schedule describes the non-GAAP financial measures included in this earnings release. While we believe that these non-GAAP financial measures may be useful in evaluating our financial information, they should be considered as supplemental in nature and not as a substitute for financial information prepared in accordance with GAAP. Reconciliations, definitions, and how we believe these measures are useful to management and investors are provided below. Other companies may define similar measures differently.
EBITDA, Adjusted EBITDA and Adjusted Operating Income
Three Months Ended
May 3, 2019 May 4, 2018
(in millions)
Net income attributable to common stockholders $ 55 $ 49
Interest expense 25 12
Interest income (1 ) (1 )
Provision for income taxes 14 6
Depreciation and amortization 33 10
EBITDA(1) 126 76
EBITDA as a percentage of revenues 7.8 % 6.5 %
Acquisition and integration costs 10 —
Recovery of acquisition and integration costs (2 ) —
Adjusted EBITDA(1) $ 134 $ 76
Adjusted EBITDA as a percentage of revenues 8.3 % 6.5 %
Operating income $ 93 $ 66
Operating income as a percentage of revenues 5.8 % 5.6 %
Acquisition and integration costs 10 —
Recovery of acquisition and integration costs (2 ) —
Adjusted operating income(1) $ 101 $ 66
Adjusted operating income as a percentage of revenues 6.3 % 5.6 %
EBITDA is a performance measure that is calculated by taking net income attributable to common stockholders and excluding interest, provision for income taxes, and depreciation and amortization. Adjusted EBITDA and adjusted operating income are performance measures that exclude acquisition and integration costs that we do not consider to be indicative of our ongoing operating performance. The acquisition and integration costs relate to the Company's significant acquisition of Engility. The recovery of acquisition and integration costs relate to acquisition and integration costs recovered through the Company's indirect rates in accordance with Cost Accounting Standards. We believe that these performance measures provide management and investors with useful information in assessing trends in our ongoing operating performance and may provide greater visibility in understanding the long-term financial performance of the Company.
(1)Non-GAAP measure, see above for definition.
Schedule 5 (continued):
SCIENCE APPLICATIONS INTERNATIONAL CORPORATION
NON-GAAP FINANCIAL MEASURES
(Unaudited)
Adjusted Diluted Earnings Per Share
Three Months Ended
May 3, 2019 May 4, 2018
Diluted earnings per share $ 0.92 $ 1.13
Acquisition and integration costs, divided by diluted 'weighted-average number of shares outstanding' (WASO) 0.13 —
Tax effect of acquisition and integration costs, divided by diluted WASO (0.03 ) —
Net effect of acquisition and integration costs, divided by diluted WASO 0.10 —
Amortization of intangible assets, divided by diluted WASO 0.42 0.12
Tax effect of amortization of intangible assets, divided by diluted WASO (0.08 ) (0.02 )
Net effect of amortization of intangible assets, divided by diluted WASO 0.34 0.10
Adjusted diluted earnings per share(1) $ 1.36 $ 1.23
Adjusted diluted earnings per share is a performance measure that excludes acquisition and integration costs that we do not consider to be indicative of our ongoing operating performance. The acquisition and integration costs relate to the Company's recent acquisition of Engility and is net of the recovery of acquisition and integration costs recovered through the Company's indirect rates in accordance with Cost Accounting Standards. Adjusted diluted earnings per share also excludes amortization of intangible assets because we do not have a history of significant acquisition activity, we do not acquire businesses on a predictable cycle, and the amount of an acquisition's purchase price allocated to intangible assets and the related amortization term are unique to each acquisition. We believe that this performance measure provides management and investors with useful information in assessing trends in our ongoing operating performance and may provide greater visibility in understanding the long-term financial performance of the Company.
(1)Non-GAAP measure, see above for definition.
Schedule 5 (continued):
SCIENCE APPLICATIONS INTERNATIONAL CORPORATION
NON-GAAP FINANCIAL MEASURES
(Unaudited)
Free Cash Flow
Three Months Ended
May 3, 2019
May 4, 2018
(in millions)
Net cash provided by operating activities $ 178 $ 88
Expenditures for property, plant, and equipment (9 ) (6 )
Free cash flow(1) $ 169 $ 82
Free cash flow is calculated by taking cash flows provided by operating activities less expenditures for property, plant, and equipment. We believe that free cash flow provides management and investors with useful information in assessing trends in our cash flows and in comparing them to other peer companies, many of whom present a similar non-GAAP liquidity measure. This measure should not be considered as a measure of residual cash flow available for discretionary purposes.
(1)Non-GAAP measure, see above for definition.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190606005100/en/
Contact:
Investor Relations: Shane Canestra, +1.703.676.2720, shane.p.canestra@saic.com
Media: Lauren Presti, +1.703.676.8982, lauren.a.presti@saic.com
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5 years ago
SAIC Wins Prime Spot on $245 Million Marine Corps Training Contract
RESTON, Va.--(BUSINESS WIRE)--
Science Applications International Corp. (SAIC) won a prime contractor spot on the $245 million Marine Air–Ground Task Force Training Systems Support multiple-award indefinite-delivery, indefinite-quantity contract.
“SAIC has been providing services and innovative solution in support of the Marine Corps’ global missions for decades,” said Jim Scanlon, executive vice president and general manager of SAIC’s Defense Systems customer group. “We’re excited about this new opportunity to bring our strong capabilities and proven past performance in live, virtual, constructive, and gaming training support to benefit Marine Corps readiness.”
The company will compete for task orders to support pre-deployment training programs to Marine Corps operating forces within the context of Joint and combined environments to improve warfighting skills. The support will include exercise and mission rehearsal support; planning and structuring training; supporting live, virtual, constructive, and gaming training scenarios; and executive and technical training support.
This contract has a 10-year period of performance, and the work will be conducted around the world. SAIC is one of seven awardees.
About SAIC
SAIC® is a premier technology integrator solving our nation’s most complex modernization and readiness challenges. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes high-end solutions in engineering, IT, 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.
We are 23,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has pro forma annual revenues of approximately $6.5 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/20190605005106/en/
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DMOST
5 years ago
SAIC Expands Access to Emerging Technologies with Strategic Partnership
RESTON, Va.--(BUSINESS WIRE)--
Agreement with Franklin Venture Partners opens access to emerging technologies from country’s leading startups
Science Applications International Corp. (SAIC) announced today that it has entered into a strategic partnership with Franklin Venture Partners to broaden its access and exposure to emerging technologies developed by startup companies across the United States. Through this new alliance, SAIC will have unique investment opportunities and access to commercial technologies that may directly benefit the company or could be delivered to its government customers.
“Through this new strategic partnership with Franklin Venture Partners, SAIC can deliver complex technical solutions quicker and leverage emerging technologies to solve specific problems for our customers,” said Josh Jackson, executive vice president and general manager of SAIC’s Solutions and Technology Group. “By tapping into the startup ecosystem, SAIC broadens its pool of alliances and resources while enabling government to be more agile in its ability to implement new technologies.”
As a technology integrator, SAIC’s formal relationship with Franklin Venture Partners, a specialized investment team within Franklin Templeton that invests in private investment opportunities, offers additional resources and increased visibility to a network of smaller, innovative companies to bring new technologies to government customers.
SAIC’s agreement with Franklin Venture Partners is the latest among several initiatives to increase its involvement with startup companies and accelerator programs. Recently, SAIC opened a new office space in Austin, Texas as part of the Capital Factory, and joined Techstars Starburst Space Accelerator, a space-focused accelerator program with a U.S. Government and corporate participants. The company also participates in Catalyst Campus, a Colorado-based technology and innovation ecosystem where industry small business, workforce training, entrepreneurs, startups and venture capital intersect with the aerospace and defense industry.
About SAIC
SAIC® is a premier technology integrator solving our nation’s most complex modernization and readiness challenges. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes high-end solutions in engineering, IT, 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.
We are 23,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has pro forma annual revenues of approximately $6.5 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.
About Franklin Venture Partners
Franklin Venture Partners is a specialized investment team within Franklin Templeton, one of the world’s leading asset managers, based in San Mateo, California. Leveraging its Silicon Valley proximity and Franklin Templeton’s 70 years of experience evaluating and managing equity investments of all sizes, Franklin Venture Partners identifies and invests in mid-stage companies it believes are poised for transformative impacts across multiple industries.
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/20190528005290/en/
Contact:
SAIC Media Contact:
Lauren Presti
703-676-8982
lauren.a.presti@saic.com
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5 years ago
SAIC Awarded $58 Million U.S. Air Force Contract for Laser Research
RESTON, Va.--(BUSINESS WIRE)--
The U.S. Air Force Research Laboratory selected Science Applications International Corp. (SAIC) to research laser bioeffects, advance vision science, conduct modeling and simulation, and perform safety engineering, awarding the company a $58 million Optical Radiation Bioeffects and Safety contract. The research program will enhance airman combat survivability by enabling U.S. forces to counter optical hazards and threats.
“We need to keep airmen safe and able to perform their missions effectively on a directed energy battlefield,” said Michael LaRouche, executive vice president and general manager of SAIC’s National Security Customer Group. “Having delivered in-house research for the 711 Human Performance Wing - Optical Radiation Bioeffects Branch for the past 26 years, we’re well positioned to deliver next generation solutions in optical warfare.”
Under the 75-month, cost-plus, fixed-fee contract, SAIC’s team will cover wide-ranging research to define thresholds for biological injury and correlate optical exposure with performance. SAIC will also leverage machine learning capabilities from its Solutions and Technology Group as they seek to enhance laser injury assessments.
About SAIC
SAIC is a premier technology integrator solving our nation’s most complex modernization and readiness challenges across the defense, space, federal civilian, and intelligence markets. Our robust portfolio of offerings includes high-end solutions in systems engineering and integration; enterprise IT, including cloud services; cyber; software; advanced analytics and simulation; and training. With an intimate understanding of our customers’ challenges and deep expertise in existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to rapidly deliver innovative, effective, and efficient solutions.
We are a team of 23,000 strong driven by mission, united purpose, and inspired by opportunity. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $6.5 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/20190508005056/en/
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