SAIC reports 'more normalized environment'

By Marjorie Censer / June 4, 2021 at 10:58 AM

The chief executive of Science Applications International Corp. said this week the company is "optimistic" about a return to normalcy as the COVID-19 pandemic appears to be subsiding.

In a call with analysts Thursday evening, Nazzic Keene said the company is looking at the future as it emerges from "what we hope to be the backside of this particular pandemic cycle."

"We're all very optimistic," she added. "We are seeing things come back to a more normalized environment, and we're very pleased for that."

Meanwhile, SAIC said this week that sales during its most recent quarter totaled nearly $1.9 billion, up 7% from the same three-month period a year earlier.

SAIC attributed the growth to its acquisition of Unisys Federal as well as increased sales on existing programs as well as new contracts, primarily for the Air Force.

The company said the pandemic cut sales by about $33 million during the quarter, driven by reduced sales in its supply chain business and with the Federal Aviation Administration.

SAIC reported that quarterly profit hit $81 million, more than double the profit from the same period the prior year.