SAIC reports sales, profit growth

By Marjorie Censer / December 7, 2018 at 12:42 PM

Science Applications International Corp. said yesterday sales in its most recent quarter hit $1.2 billion, up 3 percent from the same three-month period the prior year.

SAIC attributed the sales boost to newly awarded contracts and increased orders in its supply chain portfolio.

The contractor reported quarterly profit of $48 million, up 12 percent from a year earlier. SAIC said it benefited from a lower effective tax rate.

During a call with analysts Thursday, Nazzic Keene, SAIC's chief operating officer, said the company is waiting to hear whether it will be awarded a contract for the Army's Mobile Protected Firepower program.

"We expect that award to be somewhere in the December time frame," she said. "We're just anxiously awaiting the award."

Asked whether the company is considering other platform programs, Tony Moraco, SAIC's chief executive, said SAIC is "looking at broad complex system integration across the portfolio."

"The Army does some modernization programs that we would consider," he said. "Wouldn't want to talk about anything specific in the pipeline, but there are modernization-type programs -- probably smaller in scale than MPF -- that we would consider. . . .  We are looking at modernization components that fit our business model and that would be attractive to the customers as an alternative to the [original equipment manufacturers]."