SAIC reports increased sales, profit

Science Applications International Corp. said this week sales in its most recent quarter totaled $1.8 billion, up almost 12% from the same three-month period a year earlier.

The contractor attributed the growth to its acquisition of Unisys Federal as well as sales on new contracts with the Air Force and growth in existing programs.

When adjusted for acquired sales, SAIC said sales declined slightly in the quarter, "primarily due to the impacts of COVID-19."

SAIC recorded quarterly profit of $60 million, up less than 1% from a year earlier.

The contractor said it now expects the ongoing COVID-19 pandemic to take a $250 million toll on program sales in the company's fiscal year 2021.

"The provided guidance also assumes continued program impact from COVID-19 through the end of fiscal year 2021 (January 29, 2021) and assumes Section 3610 of the CARES Act is extended through that period," SAIC added.