The Insider

SAIC: Shutdown has so far cost $20 million in revenue

January 7, 2019 at 3:46 PM

Science Applications International Corp. said the partial government shutdown has cost it $10 million per week in revenue during its first two weeks.

During an industry day in New York, Charlie Mathis, SAIC's chief financial officer, said that figure could increase if the shutdown continues.

Mathis said there has been “more of an impact” on SAIC's cash flow, noting the company is behind $40 million to $50 million in cash payments.

“If we get through this quickly, they can catch up on the cash side, and the revenue -- we think we can catch up there as well,” he said.

Nazzic Keene, SAIC's chief operating officer, said at the same event the company is also closely monitoring the effect of the shutdown on awards and submittals.