science applications inte (SAIC) Key Developments
Science Applications International Corporation Wins Prime Contract from Space and Naval Warfare Systems Center Pacific
May 12 15
Science Applications International Corp. announced it was awarded a prime contract by the Space and Naval Warfare Systems Center Pacific in support of the Interoperable Communications Technical Assistance Program (ICTAP). The multiple-award, cost-plus-fixed-fee indefinite delivery, indefinite quantity contract has a five year period of performance and a total potential contract value of approximately $84 million for all awardees. SAIC is one of two awardees that will compete for task orders under the contract. Work will be performed primarily in San Diego, California. Under the contract, SAIC will provide communications, information technology, and other interoperable communications support to public safety agencies across the United States and its territories. ICTAP is a Department of Homeland Security, Office of Emergency Communications program that is carried out and managed by SPAWAR. SAIC began providing technical assistance to ICTAP in 2005, and since then, has provided engineering and policy knowledge to identify technical challenges and develop plans to ensure communications
interoperability in emergency situations. This has helped to ensure that first responders across different agencies could communicate effectively in major disasters like forest fires, terrorist acts, and earthquakes.
Science Applications International Corp. Wins $118.5 Million Task Order by U.S. Navy
May 7 15
The U.S. Navy awarded Science Applications International Corp. a task order to provide fleet deployment training program support to the U.S. Fleet Forces Command. The single-award, cost-plus-fixed-fee task order has a one-year base period of performance, four one-year options, and a total contract value of approximately $118.5 million if all options are exercised. The task order was awarded under the SeaPort-e contracting vehicle, and most of this work will be performed in Norfolk, Virginia and San Diego, California.
Science Applications International Corp. Wins $425 Million Controller Training Contract by The Federal Aviation Administration
May 4 15
The Federal Aviation Administration awarded Science Applications International Corp. an indefinite delivery, indefinite quantity contract to provide all training and training program support services under the FAA Controller Training Contract (CTC). The single-award, firm-fixed-price and time and materials contract has a three-year period of performance, two one-year options, and the current total estimated contract value is $425 million, with a maximum contract ceiling of $727 million. Work will be performed mainly in Oklahoma City, Washington, D.C., and air traffic control sites nationwide. During the next five years, the FAA expects to hire as many as 6,000 new air traffic controllers to replace a retiring workforce. Under the contract, SAIC will provide support services to the FAA Academy and Air Traffic Control (ATC) Facilities to help FAA fulfill controller training requirements. These services include program management support; classroom training; simulation and laboratory training; monitoring of student progress; training development, maintenance and revision; air traffic training program support; administrative support; and innovation support.
Science Applications International Corp Receives Contract from Toyota Motor North America
Apr 20 15
Toyota Motor North America awarded Science Applications International Corp. (SAIC) a contract to provide ongoing information systems (IS) end-user support services. The firm-fixed-price contract has a five-year period of performance and an estimated total contract value of $54 million. SAIC will provide support services to Toyota sales and manufacturing affiliates located in California, Kentucky, and Texas. Under the contract, SAIC will provide IS services to help manage: Toyota's end user and dealer service desks; access administration; and messaging and collaboration. SAIC will also provide Deskside support for end user computing at Toyota's HQ campuses in Torrance, CA and Plano, TX, as well as parts centers in California and Kentucky. SAIC will assist Toyota with transitioning IS operations while it consolidates its North American affiliates and headquarters into one location in Plano, Texas.
Science Applications International Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended January 31, 2015; Declares Quarterly Cash Dividend, Payable on April 30, 2015
Mar 31 15
Science Applications International Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended January 31, 2015. For the quarter, the company has posted total revenues of $952 million against $941 million a year ago. These increases offset lower revenues caused by the continued impact of programs that ended in the prior year and lower activity on in-theater logistics programs. Operating income was $59 million against $56 million a year ago. The increase in operating income was primarily due to overall strong program execution resulting in net favorable changes in estimates on contracts. EBIT was $55 million against $52 million a year ago. Net income was $36 million or $0.75 diluted per share against $33 million or $0.66 diluted per share a year ago. The increase in net income was driven by consistent operating income and a current quarter decrease in income tax expense. Total cash flows provided by operating activities were $96 million against $125 million a year ago. Expenditures for property, plant and equipment was $7 million against $6 million a year ago.
For the year, the company has posted total revenue of $3,885 million against $4,121 million a year ago. These decreases were partially offset by revenues on newly awarded programs and increased material volume on supply chain contracts. Operating income was $240 million against $183 million a year ago. The increase was primarily due to the absence during the current year of separation transaction and restructuring expenses as well as strong current year program execution resulting in net favorable changes in estimates on contracts. EBIT was $223 million against $176 million a year ago. Net income was $141 million or $2.91 diluted per share against $113 million or $2.27 diluted per share a year ago. Net income increased due to the above described increase in operating income, partially offset by interest expense on debt obtained in September 2013 in conjunction with the spin-off transaction. Total cash flows provided by operating activities were $277 million against $183 million a year ago. Expenditures for property, plant and equipment was $22 million against $16 million a year ago.
The board of directors declared a regular quarterly cash dividend of $0.28 per share payable on April 30, 2015 to stockholders of record on April 15, 2015.