Science Applications International Corporation (SAIC) Quote

SAIC 10Q due 3/18

SAIC new 52 week high

https://www.defenseworld.net/2022/05/18/contrasting-sharing-economy-international-otcmktsseii-science-applications-international-nysesaic.html

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SAIC moving on adapting and changing to maintain profits near and far.

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SAIC moving on adapting and changing to maintain profits near and far.

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Science Applications (SAIC) Secures $3.6B U.S. Army Contract

Science Applications SAIC recently received a contract from the U.S. Army to continue supporting the U.S. Army Combat Capabilities Development Command, Aviation & Missile Center (DEVCOM AvMC), Software, Simulation, Systems Engineering and Integration (S3I) Directorate. The Directorate will leverage Science Applications’ engineering services to support its hardware-in-the-loop and modeling & simulation development.

The contract can continue for eight years, allowing Science Applications to support the development of embedded systems, including systems, subsystems, components and software versions, and hardware configurations.

Science Applications International Corporation Price and Consensus

Notably, this contract adds to the previous three major awards to support the S3I Directorate secured by Science Applications, exceeding $8.1 billion in total. Markedly, the past year saw the company secure a $2.9-billion contract for software development and maintenance services, an $830-million contract for aviation systems engineering services and an $800-million contract for modeling & simulation systems engineering support services.

Science Applications is benefiting from the continued flow of high-value contracts. A record level of awards reflects its disciplined business-development actions, consistent operational excellence and high customer satisfaction. Notably, as of Jan 31, 2021, the company’s total contract backlog was $21.5 billion.

Furthermore, having the government as a big client lends stability to the business and moderates fluctuation in revenues. Although the government generally has a lengthy approval process, the projects keep earning money for several years after their approvals.

Bright Prospects Amid Competition

Competition from CACI International CACI in the IT services space is steady. CACI continues to win high-value contracts and received contracts worth $789 million during its first-quarter fiscal 2021.

In the IT services industry, Science Applications also competes with IBM IBM and Accenture ACN, which are among the top IT service providers in the world.

Nonetheless, we believe the company is comfortably positioned in this space, given its back-to-back contract wins, which are supporting the business perennially.

Science Applications currently carries a Zacks Rank #5 (Strong Sell).
https://finance.yahoo.com/quote/SAIC?p=SAIC

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UP, UP & AWAAAAAAAY...BACK TO THE FUTURE!

Is There An Opportunity With Science Applications International Corporation's (NYSE:SAIC) 45% Undervaluation?

https://www.yahoo.com/finance/news/opportunity-science-applications-international-corporations-131701848.html

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VERY GOOD BUY OP.

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SAIC Wins U.S. Navy Contract for Torpedo Fuel Tanks

Company will produce, test and deliver fuel tanks for the MK48 heavyweight torpedo

The U.S. Navy awarded Science Applications International Corp. (NYSE: SAIC) a prime contract worth approximately $120 million to provide mission engineering and integration support to produce, test and deliver MK48 heavyweight torpedo fuel tanks for the Naval Undersea Warfare Center Division Keyport. The firm-fixed-price contract was awarded and began in October 2020 and has an 18-month base period of performance with four option years.

In support of the Naval Undersea Warfare Center (NUWC) Keyport, Washington, SAIC will provide all necessary facilities, resources, and management necessary to meet the production, test, and delivery requirements of both MK48 heavyweight all-up-round exercise and war shot fuel tank configurations for Navy and foreign military sales customers.

"SAIC is proud to expand our work on the MK48 heavyweight torpedo system for the U.S. Navy," said Bob Genter, SAIC president, Defense & Civilian Sector. "We are confident that our proven performance on the MK48 afterbody/tailcone program will be mirrored in the fuel tank program."

NUWC Keyport provides technical leadership, engineering expertise, and unique facility complexes that serve to ensure sustainment of undersea warfare (USW) superiority for the United States. As one of two divisions of the Naval Undersea Warfare Center, Keyport’s mission is focused on developing and applying advanced technical capabilities to test, evaluate, field, and maintain undersea warfare systems and related defense assets. These advanced technical capabilities directly support the full spectrum of Navy undersea programs.

"We pride ourselves on providing reliable, innovative solutions to support NUWC Keyport, and we look forward to expanding our work on the MK48 heavyweight torpedo over the next five years," added Josh Jackson, SAIC senior vice president for the Naval Business Unit, Defense & Civilian Sector. "Our team is excited to get to work in providing the reliable exercise and war-shot torpedoes the Navy requires."
https://finance.yahoo.com/news/saic-wins-u-navy-contract-211500881.html

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The RSI has cooled off considerably,as the ball bounces.

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This recent decline, is to proceed a nice uptrend....

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The RSI is setting at a very sweet spot.....

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SAIC Names John Bonsell as New Senior Vice President of Government Affairs

Bonsell assumes lead government affairs position, succeeding Tom Eldridge

Science Applications International Corp. (NYSE: SAIC) announced today that John Bonsell will rejoin the company as the new senior vice president of Government Affairs, effective immediately. Bonsell will lead SAIC Government Affairs supporting SAIC's strategic objectives through engagement with federal executive branch officials, members of Congress and their staffs, and state and local officials.

"We are incredibly excited for John to rejoin SAIC. He brings extensive industry knowledge and government experience as well as his in-depth working knowledge of the Department of Defense. John will continue to push SAIC further in meeting our customers’ needs as they navigate their digital transformation journeys," said SAIC CEO Nazzic Keene.

Bonsell worked at SAIC for eight years, first as a consultant from 2007 to 2012 and later as a vice president within Government Affairs from 2015 to 2018. Prior to returning to SAIC, he was the Majority Staff director for the Senate Armed Services Committee where he managed the confirmation oversight responsibilities of the committee, and was primarily focused on the Department of Defense and other related security functions of the government.

Earlier in his career, Bonsell served as the ranking staff director for the Senate Armed Services Committee and was the legislative director and deputy chief of staff for Sen. James Inhofe. During his military service with the Army, he served as chief of concepts and doctrine for the Army. He earned a bachelor’s degree in political science and government from Penn State University.

Bonsell succeeds SAIC Senior Vice President Tom Eldridge, who will retire this spring. "Tom will remain with SAIC through April to ensure a successful transition. I want to thank him for more than 11 years with SAIC and for all of his contributions to our success," Keene said.
https://finance.yahoo.com/news/saic-names-john-bonsell-senior-133300517.html

Well alright, let the transformation continue and the good-times keep rolling.

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SAIC Awarded $89 Million Contract for IT Support and C4I Services to U.S. Army
https://finance.yahoo.com/news/saic-awarded-89-million-contract-111500016.html

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Did Hedge Funds Make The Right Call On Science Applications International Corp (SAIC) ?
https://finance.yahoo.com/news/did-hedge-funds-call-science-221048431.html

SAIC WILL BE BACK, WITH AN IMPACT!

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SAIC has held of well above previous years pattern of slumping at the end of a year...........Why?...........The Engility acquisition has added value to the overall worth and has made it a strong company both materially and financially.

While enjoy the benefits of this "Trump Induce Economy" hasn't hurt either.

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SAIC (SAIC) Up 5.1% Since Last Earnings Report: Can It Continue?

It has been about a month since the last earnings report for SAIC (SAIC). Shares have added about 5.1% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is SAIC due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.

SAIC Q3 Earnings Miss Mark, Rise Y/Y

Science Applications reported third-quarter fiscal 2020 earnings of $1.39 per share, missing the Zacks Consensus Estimate by 3.47%. However, the bottom line improved 2.96% year over year.

Moreover, revenues jumped 38% from the year-ago quarter to $1.6 billion but lagged the Zacks Consensus Estimate of $1.63 billion. Revenues realized from the acquisition of Engility drove the top line. Strong performance of the company’s contract portfolio is a tailwind.

However, adjusting for the impact of acquired revenues, the metric declined 1.5% due to acquisition related dis-synergies.

Quarter in Detail

Net bookings for the quarter were approximately $2.2 billion, reflecting a book-to-bill ratio of approximately 1.4%.

Science Applications’ estimated backlog of signed business deals was approximately $14.5 billion of which, $2.9 billion was funded.

Adjusted operating margin contracted 40 basis points (bps) year over year to 5.8% in the reported quarter.

Adjusted EBITDA of $135 million increased 38%. Adjusted EBITDA margin was flat at 8.3%.

Balance Sheet & Cash Flow

Science Applications ended the quarter with cash and cash equivalents of $162 million, down from $179 million reported in the previous quarter.

Operating cash flow was $116 million, up from $95 million in the sequential quarter. Free cash flow was $116 million compared with $90 million in the preceding quarter.

During the quarter, Science Applications deployed $24 million of capital, $21 million to cash dividends and $3 million to debt repayment.

Guidance

For fiscal 2020, the company expects second-half revenues to be consistent with the first-half figure of $3.6 billion.

For the full fiscal, adjusted EBITDA margin is likely to be at the mid-to-upper-end of the 8.2-8.4% range.

Free cash flow is expected to be at least $425 million for fiscal 2020.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed a downward trend in estimates revision.

VGM Scores

At this time, SAIC has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with a C. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. Notably, SAIC has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
https://finance.yahoo.com/news/saic-saic-5-1-since-163004626.html

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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/

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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

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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

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SAIC Wins $68 Million Contract With National Geospatial-Intelligence Agency to Deliver Apps and Data Content
https://finance.yahoo.com/news/saic-wins-68-million-contract-204500247.html

SAIC Develops Robotic Solutions for USDA
https://finance.yahoo.com/news/saic-develops-robotic-solutions-usda-201500602.html

MORE MONEY LESS PROBLEMS...........

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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

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SAIC wins $950 million U.S. defense contract -Pentagon

WASHINGTON, Sept 6 (Reuters) - Science Applications International Corp has been awarded a $950 million contract to supply a variety of items to the U.S. Army, Navy, Air Force, and Marine Corps, the Pentagon said on Friday.

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SAIC Shares Drop After Government Contractor Misses Revenue Mark
Excluding revenue gained by a major acquisition last year, Science Applications' revenue came up flat with the year-earlier quarter.
https://www.thestreet.com/investing/earnings/saic-drops-after-government-contractor-misses-revenue-mark-15080512?puc=yahoo&cm_ven=YAHOO&yptr=yahoo

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SAIC (SAIC) Surpasses Q2 Earnings Estimates

SAIC (SAIC) came out with quarterly earnings of $1.35 per share, beating the Zacks Consensus Estimate of $1.27 per share. This compares to earnings of $1.13 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 6.30%. A quarter ago, it was expected that this information technology company would post earnings of $1.21 per share when it actually produced earnings of $1.36, delivering a surprise of 12.40%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

SAIC, which belongs to the Zacks Computers - IT Services industry, posted revenues of $1.59 billion for the quarter ended July 2019, missing the Zacks Consensus Estimate by 2.79%. This compares to year-ago revenues of $1.12 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

SAIC shares have added about 40.4% since the beginning of the year versus the S&P 500's gain of 17.2%.

What's Next for SAIC?

While SAIC has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for SAIC was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.49 on $1.69 billion in revenues for the coming quarter and $5.49 on $6.58 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computers - IT Services is currently in the top 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
https://finance.yahoo.com/news/saic-saic-surpasses-q2-earnings-213509356.html

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What's in Store for Science Applications (SAIC) Q2 Earnings?
https://finance.yahoo.com/news/whats-store-science-applications-saic-144302858.html

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Is There More To Science Applications International Corporation (NYSE:SAIC) Than Its 9.5% Returns On Capital?
https://finance.yahoo.com/news/more-science-applications-international-corporation-123357131.html

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SAIC (SAIC) Reports Next Week: Wall Street Expects Earnings Growth

SAIC (SAIC) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended July 2019. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on September 5. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus Estimate

This information technology company is expected to post quarterly earnings of $1.27 per share in its upcoming report, which represents a year-over-year change of +12.4%.

Revenues are expected to be $1.64 billion, up 47.1% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings Whisper

Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for SAIC?

For SAIC, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that SAIC will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?

While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that SAIC would post earnings of $1.21 per share when it actually produced earnings of $1.36, delivering a surprise of +12.40%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom Line

An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

SAIC doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

GO SAIC

"PEACE"

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"

Here is Why Growth Investors Should Buy SAIC (SAIC) Now

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.

In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.

However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects, makes it pretty easy to find cutting-edge growth stocks.

Our proprietary system currently recommends SAIC (SAIC) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).

Here are three of the most important factors that make the stock of this information technology company a great growth pick right now.

Earnings Growth

Earnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for SAIC is 14.8%, investors should actually focus on the projected growth. The company's EPS is expected to grow 8.9% this year, crushing the industry average, which calls for EPS growth of 7.4%.

Cash Flow Growth

While cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature companies. That's because, growth in cash flow enables these companies to expand their businesses without depending on expensive outside funds.

Right now, year-over-year cash flow growth for SAIC is 33.4%, which is higher than many of its peers. In fact, the rate compares to the industry average of 12.1%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 16.6% over the past 3-5 years versus the industry average of 15.1%.

Promising Earnings Estimate Revisions

Beyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

The current-year earnings estimates for SAIC have been revising upward. The Zacks Consensus Estimate for the current year has surged 1.4% over the past month.

Bottom Line

While the overall earnings estimate revisions have made SAIC a Zacks Rank #2 stock, it has earned itself a Growth Score of A based on a number of factors, including the ones discussed above.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination positions SAIC well for outperformance, so growth investors may want to bet on it.
https://finance.yahoo.com/news/why-growth-investors-buy-saic-124512908.html

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"PEACE"

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"

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"

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"

Science Applications (SAIC) Q1 Earnings Beat Mark, Rise Y/Y

Science Applications SAIC delivered first-quarter fiscal 2020 earnings of $1.36 per share, beating the Zacks Consensus Estimate of $1.21 and also improving 11% year over year.

Moreover, revenues jumped 37% from the year-ago quarter to $1.62 billion and further outpaced the Zacks Consensus Estimate of $1.61 billion, driven by the acquisition of Engility. However, excluding Engility, revenues dipped 2.8% year over year.

Quarter in Detail

Net bookings for the quarter were approximately $1.4 billion as a result of contract award activities, reflecting a book-to-bill ratio of approximately 0.9.

SAIC’s estimated backlog of signed business orders was approximately $13.6 billion of which, $2.98 billion was funded.

Adjusted operating margin expanded 70 basis points (bps) year over year to 6.3% in the reported quarter.

Adjusted EBITDA margin grew 180 bps to 8.3%, backed by an improved program performance, cost discipline and higher margin portfolio of Engility.

Balance Sheet & Cash Flow

SAIC ended the quarter with cash and cash equivalents of $151 million, down from $237 million reported in the previous quarter.

Operating cash flow was $178 million, up from $22 million in the previous quarter. Free cash flow was $169 million compared with $18 million in the preceding quarter.

Recovery of around $25 million from deferred customer payments as a result of the partial government shutdown in the fourth quarter, buoyed cash flow.

During the quarter, SAIC deployed $70 million of capital, consisting of $44 million in planned share repurchases, $23 million in cash dividends and a $3-million term loan repayment.

Guidance

SAIC maintained revenue and adjusted EBITDA margin target per its report presented at the investors’ conference held in January.

Free cash flow is still expected to be around $425 million in fiscal 2020.

The company’s full-year effective tax rate is forecast in the 22-24% range.

Zacks Rank and Stocks to Consider

Currently, SAIC has a Zacks Rank #3 (Hold)............
https://www.yahoo.com/finance/news/science-applications-saic-q1-earnings-143602568.html

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"PEACE"

SAIC Secures Prime Position in Marine Corps' IDIQ Contract

Science Applications International Corp. SAIC recently secured the position of a prime contractor among seven awardees of a $245 million indefinite delivery/indefinite quantity (IDIQ) contract from the Marine Air–Ground Task Force Training Systems Support.

The contract spans 10 years

Per the contract, Science Applications will bring in task orders to support pre-deployment training programs to Marine Corps operating forces to improve warfighting skills.The company will be provided with exercise and mission rehearsal support; planning and structuring training; supporting live, virtual, constructive, and gaming training scenarios; and executive and technical training support.Science Applications has been associated with the Marine Corps’ global missions for decades.

SAIC Rides on Contract Wins

Science Applications has a large pipeline of new projects and continues to win more deals at regular intervals. Notably, as of May 3, 2019, the company’s total backlog was $13.6 billion. These back-to-back contract wins are the key catalysts driving success perennially for the company.Furthermore, having the government as a big client lends stability to the business and moderates fluctuation in revenues. Although the government generally has a lengthy approval process, the project earns money for a number of years after it is approved.In the recent months, the company secured a $37-million and a $57-million task order as part of the Seaport-e program. Moreover, NASA awarded the company the Safety and Mission Assurance Engineering Contract II worth up to $292 million.

Further, Science Applications was awarded a position on the multiple award $535 million IT Services contract for the Defense Threat Reduction Agency.Moreover, in April this year, it was awarded a position on the National Institutes of Health Business and Professional Support Services II contract to provide a broad range of IT services and support.The company continues to execute its strategy of winning high-value contracts, delivering excellence to customers and deploying capital for growth. Its robust business model is expected to help it grow further.

Growing Competition a Woe

Competition from CACI International CACI, Harris Corp. HRS and KBR, Inc. KBR in the federal marketplace remains steady.In April, Harris announced that it has secured a $212 million contract to supply the next production lot of electronic jammers to protect the U.S. Navy and Foreign Military Sales F/A-18 Hornet and Super Hornet aircraft against electronic threats. The largest order on the program to date reinforces Harris’ 21-year partnership with the Navy.

The following month, CACI announced that it won a prime position on a $3 billion multiple-award, IDIQ contract by Tactical Communications Equipment and Services, to provide tactical communications and support services to the Department of Homeland Security and other federal agencies.Moreover, few days ago, KBR’s government services unit, KBRwyle received a firm-fixed-price, cost-plus-fixed fee, IDIQ contract from the U.S. Department of Defense for Marine Corps prepositioning program logistics services in support of Blount Island Command.This level of intense competition from peers makes us apprehensive about Science Applications’ prospects.

Nonetheless, the company’s recent buyout of government IT service provider Engility is expected to boost its position in key markets and enhance competitiveness.Science Applications currently has a Zacks Rank #3 (Hold).
https://www.yahoo.com/finance/news/saic-secures-prime-position-marine-204308879.html

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"PEACE"

News: $SAIC SAIC Announces First Quarter of Fiscal Year 2020 Results

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 awa...

Got this from https://marketwirenews.com/news-releases/saic-announces-first-quarter-of-fiscal-year-2020-results-8309340.html

SAIC’s first quarter gets an Engility bounce

Amid the torch-passing between outgoing CEO Tony Moraco and CEO-elect Nazzic Keene on Thursday’s first quarter earnings call, Science Applications International Corp. (NYSE: SAIC) delivered stout revenue growth fostered by its acquisition of Engility Holdings Inc.

The Reston-based technology contractor reported $1.6 billion in revenue for the quarter, a 37% increase from the prior year, fueled largely by growth attributed to the Engility buy, which closed in January.

While SAIC officials didn’t breakout Engility’s earnings for the quarter, they did note that business units of the former engineering and logistics services company helped offset a revenue contraction of 2.8% caused by revenue dis-synergies resulting from the acquisition and humanitarian aid SAIC provided to Puerto Rico.

The company also saw a surge in free cash flow for the quarter, netting $169 million, a 106% increase over the prior year and included $25 million in delayed payments resulting from the 35-day partial government shutdown.

That sets up Keene, who will officially become CEO on July 31, with a strong start to both her tenure and fiscal 2020, as SAIC and Engility’s operations integrate and the company continues to work through its cost synergy plan.

“I’m very excited to be leading a stronger SAIC as we continue to build momentum in the marketplace,” Keene said on the earnings call. “The combination of our expanded market presence, increased capabilities, greater access to a skilled, talented workforce and a strengthened financial profile, all provide a great opportunity to sustain profitable growth.”

But alongside those gains, SAIC is also looking to restock its pipeline of contracts with new business development. The company’s book-to-bill for the quarter was 0.9, with $1.9 billion in contract awards — 70% of which was new business.

SAIC logged a trailing 12-month book-to-bill of 1.1, but its backlog has grown to $13.6 billion, $3 billion of which is funded. Keene added the company will look to nearly double its contract proposals in the second quarter to $6 billion.
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When asked about the low book-to-bill, Keene said SAIC was forecasting a low recompete year — though the company did secure a $292 million recompete of NASA’s Mission Assurance Engineering Contract (SMAEC) II contract, as well as a $58 million recompete of the Air Force’s Optical Radiation Bioeffects and Safety contract during the quarter. She said the ramp-up in new proposals would help offset the recompete environment as SAIC continues to target more growth.

“We are really trying to focus on the new business,” she said. “As we go through the year, we’ll try to provide that visibility. Because book-to-bill is certainly an indicator, but not the only indicator for momentum in the business development arena.”

The company is also awaiting ruling on a $655 million Air Force contract for engineering, development, integration and sustainment (EDIS). SAIC won that contract in January, but Peraton Inc. protested the award in January. Keene said a ruling on that contract should come down in the next 10 days.

Revenue for the quarter largely met Wall Street’s expectations, with SAIC’s stock up more than 6% following the earnings call, trading at $84.60.
https://www.bizjournals.com/washington/news/2019/06/06/saic-s-first-quarter-gets-an-engility-bounce.html?ana=yahoo&yptr=yahoo

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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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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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Can Science Applications (SAIC) Deliver a Beat in Q1 Earnings?

Science Applications International Corporation SAIC is set to report first-quarter fiscal 2020 earnings on Jun 6.

The company’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average being 18.99%.

In the last reported quarter, the company delivered earnings of $1.17 per share, which beat the Zacks Consensus Estimate of 89 cents but declined 15% year over year.

Revenues rose 6% from the year-ago quarter to $1.19 billion and also outpaced the Zacks Consensus Estimate of $1.18 billion.

For the fiscal first quarter, the Zacks Consensus Estimate for revenues is pegged at $1.61 billion, indicating a 36.84% improvement from the year-ago reported figure. For earnings, the consensus estimate stands at $1.18, suggesting a rise of 4.42% from the prior-year reported number.

Let’s see how things are shaping up prior to this announcement.

Factors to Consider

Science Applications’ upcoming quarterly results are likely to benefit from higher orders in supply chain and continued contract wins. The company’s capability to sustain its existing contracts coupled with the newly awarded ones across the customer portfolio is likely to remain a tailwind.

During the quarter under review, the company secured a $37-million and a $57-million task order as part of the Seaport-e program. Moreover, NASA awarded the company the Safety and Mission Assurance Engineering Contract II worth up to $292 million.

Further, Science Applications was awarded a position on the multiple award $535 million IT Services contract for the Defense Threat Reduction Agency.

The company’s top line is also likely to be driven by the acquisition of Engility, which yielded $98 million in the last reported quarter.

What the Model Says

The quantitative Zacks model conclusively suggests that a company with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) has significant chances of beating estimates if it also has a positive Earnings ESP. Zacks Rank #4 (Sell) or 5 (Strong Sell) stocks are best avoided. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Science Applications currently has a Zacks Rank #3, which increases the predictive power of ESP, and an Earnings ESP of +2.82% in the combination shows that the company is likely to beat estimates this quarter to be reported.
https://finance.yahoo.com/news/science-applications-saic-deliver-beat-153403960.html

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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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Why the Earnings Surprise Streak Could Continue for SAIC (SAIC)

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? SAIC (SAIC), which belongs to the Zacks Computers - IT Services industry, could be a great candidate to consider.

This information technology company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 24.94%.

For the most recent quarter, SAIC was expected to post earnings of $0.89 per share, but it reported $1.17 per share instead, representing a surprise of 31.46%. For the previous quarter, the consensus estimate was $1.14 per share, while it actually produced $1.35 per share, a surprise of 18.42%.

Price and EPS Surprise

With this earnings history in mind, recent estimates have been moving higher for SAIC. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

SAIC has an Earnings ESP of +5.52% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on June 6, 2019.

Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.

Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
https://www.yahoo.com/finance/news/why-earnings-surprise-streak-could-141002078.html

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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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How Financially Strong Is Science Applications International

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Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like Science Applications International Corporation (NYSE:SAIC), with a market cap of US$4.3b, are often out of the spotlight. However, history shows that overlooked mid-cap companies have performed better on a risk-adjusted manner than the smaller and larger segment of the market. This article will examine SAIC’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth. Note that this information is centred entirely on financial health and is a top-level understanding, so I encourage you to look further into SAIC here.

Check out our latest analysis for Science Applications International
SAIC’s Debt (And Cash Flows)

Over the past year, SAIC has ramped up its debt from US$1.0b to US$2.1b , which accounts for long term debt. With this increase in debt, SAIC's cash and short-term investments stands at US$237m to keep the business going. Additionally, SAIC has produced cash from operations of US$184m during the same period of time, resulting in an operating cash to total debt ratio of 8.7%, indicating that SAIC’s debt is not covered by operating cash.
Can SAIC meet its short-term obligations with the cash in hand?

At the current liabilities level of US$897m, it seems that the business has been able to meet these commitments with a current assets level of US$1.4b, leading to a 1.6x current account ratio. The current ratio is the number you get when you divide current assets by current liabilities. Usually, for IT companies, this is a suitable ratio as there's enough of a cash buffer without holding too much capital in low return investments.
NYSE:SAIC Historical Debt, April 30th 2019
NYSE:SAIC Historical Debt, April 30th 2019
Does SAIC face the risk of succumbing to its debt-load?

Since total debt growth have outpaced equity growth, SAIC is a highly leveraged company. This is not unusual for mid-caps as debt tends to be a cheaper and faster source of funding for some businesses. We can test if SAIC’s debt levels are sustainable by measuring interest payments against earnings of a company. Ideally, earnings before interest and tax (EBIT) should cover net interest by at least three times. For SAIC, the ratio of 5.77x suggests that interest is appropriately covered, which means that debtors may be willing to loan the company more money, giving SAIC ample headroom to grow its debt facilities.
Next Steps:

SAIC’s high cash coverage means that, although its debt levels are high, the company is able to utilise its borrowings efficiently in order to generate cash flow. This may mean this is an optimal capital structure for the business, given that it is also meeting its short-term commitment. This is only a rough assessment of financial health, and I'm sure SAIC has company-specific issues impacting its capital structure decisions. I suggest you continue to research Science Applications International to get a more holistic view of the mid-cap by looking at:

Future Outlook: What are well-informed industry analysts predicting for SAIC’s future growth? Take a look at our free research report of analyst consensus for SAIC’s outlook.
Valuation: What is SAIC worth today? Is the stock undervalued, even when its growth outlook is factored into its intrinsic value? The intrinsic value infographic in our free research report helps visualize whether SAIC is currently mispriced by the market......
https://finance.yahoo.com/news/financially-strong-science-applications-international-122519823.html

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Does Science Applications International's (NYSE:SAIC) Share Price Gain of 91% Match Its Business Performance?

Simply Wall St.•April 15, 2019

When we invest, we're generally looking for stocks that outperform the market average. And the truth is, you can make significant gains if you buy good quality businesses at the right price. For example, the Science Applications International Corporation (NYSE:SAIC) share price is up 91% in the last 5 years, clearly besting than the market return of around 47% (ignoring dividends).

View our latest analysis for Science Applications International

To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).

Over half a decade, Science Applications International managed to grow its earnings per share at 6.3% a year. This EPS growth is lower than the 14% average annual increase in the share price. So it's fair to assume the market has a higher opinion of the business than it did five years ago. And that's hardly shocking given the track record of growth.

You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
NYSE:SAIC Past and Future Earnings, April 15th 2019
NYSE:SAIC Past and Future Earnings, April 15th 2019

This free interactive report on Science Applications International's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
What About Dividends?

When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Science Applications International, it has a TSR of 111% for the last 5 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!
A Different Perspective

While the broader market gained around 10% in the last year, Science Applications International shareholders lost 8.9% (even including dividends). Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. On the bright side, long term shareholders have made money, with a gain of 16% per year over half a decade. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. Most investors take the time to check the data on insider transactions. You can click here to see if insiders have been buying or selling.

But note: Science Applications International may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast).

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges.

We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.

If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
https://finance.yahoo.com/news/does-science-applications-internationals-nyse-125640573.html

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