Science Applications International Corp. (NYSE:SAIC) was awarded approximately $1.1 billion in national security contracts during the fourth quarter of fiscal year 2020, bringing the annual total in this category to $2.8 billion. During the quarter, wins included a classified space contract worth approximately $265 million and the U.S. Air Force’s Common Computing Environment (Cloud One) contract worth more than $727 million. For Cloud One, SAIC will migrate approximately 800 Air Force and U.S. Army mission applications into the cloud.
“We are incredibly proud of our success this past year, and we are honored to be selected as a trusted provider of expert technical solutions in complex environments. Within a year since we closed the Engility acquisition, our progress and success within the intelligence, space, and cloud domains have presented us with many exciting opportunities that have strengthened our business,” said Michael LaRouche, executive vice president and general manager of SAIC’s National Security Group. “We are excited to end the fiscal year on a high note and to continue this momentum into the new fiscal year. Our employees’ innovation and dedication to solving our customers’ challenges continues to be our differentiator.”
Most of the contracts serve customers in the intelligence community and classified space domains that rely on SAIC for highly specialized expertise in technology integration, engineering, IT modernization, and mission operations.
SAIC is one of the largest systems engineering and integration providers across the U.S. space and intelligence communities. Recent successes have capitalized on pairing SAIC investment into emerging fields with a deep domain understanding of customer missions. Offerings in digital engineering, virtual environments, artificial intelligence, and app migration to the cloud have benefited critical U.S. missions.
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.
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.