View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 2, 2022

SAIC reports $1.83bn in revenue for second quarter of 2023

The adjusted EBITDA as a percentage of revenue for the quarter fell to 9.1%.

US-based company Science Applications International Corporation (SAIC) has reported revenues of $1.83bn in the second quarter (Q2) of 2023 that ended on 29 July 2022.

Free Buyer's Guide
img

Leading Guide to Antennas, Masts & Towers for the Land Defence Industry

The document includes detailed information on the manufacturers and suppliers and their products, along with contact details, to inform your purchasing decision.
by VMS Engage – Buyer’s Guide
Enter your details here to receive your free Buyer's Guide.

The figure represents a decline of approximately $5m in revenue compared to the corresponding period last year.

The company has attributed this fall to low net favourable changes in contract estimates, high accelerated amortisation on some off-market liability contracts, and due to the acquisition of Halfaker in July this year.

The adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) as a percentage of revenue for the quarter dropped to 9.1%. It was 10.1% in same period in the previous year.

Diluted earnings per share for Q2 of the current year was $1.30, in comparison to $1.41 for same quarter in the year prior.

SAIC CEO Nazzic Keene said: “The investments we have made to build differentiated solutions in areas of Secure Cloud and Systems Integration position us well to gain share in a growing market.

“Our focus remains on converting a strong pipeline of opportunities into sustained, profitable growth and increased value for our shareholders.”

The report shows that the net bookings for the quarter were $2.1bn, representing a book-to-bill ratio of 1.1 and a trailing 12-month book-to-bill ratio of 1.0.

SAIC had a total backlog of approximately $24.3bn, of which $3.6bn was funded.

The recompete contracts during the quarter include a $104m contract extension by the US Department of State for providing engineering and design services for critical IT infrastructure.

Other new business awards include a $200m US Army contract, a $319m US Air Force contract, and a $163m contract from the US Navy.

SAIC has also increased revenue and adjusted diluted earnings per share guidance for fiscal year 2023 from $7.50bn to $7.55bn.

Related Companies

Free Buyer's Guide
img

Leading Guide to Antennas, Masts & Towers for the Land Defence Industry

The document includes detailed information on the manufacturers and suppliers and their products, along with contact details, to inform your purchasing decision.
by VMS Engage – Buyer’s Guide
Enter your details here to receive your free Buyer's Guide.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The defence industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Army Technology