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SAIC Reports 5% Growth in Full FY 2019 Revenue, $14B in Total Backlog; Nazzic Keene Quoted

Nazzic Keene

Science Applications International Corp. (NYSE: SAIC) saw its full fiscal year 2019 revenue grow 5 percent to $4.66B and ended the year with an estimated total backlog of $13.8B of which $2.8B was funded.

SAIC said Thursday it recorded $220M in FY 2019 operating income with diluted earnings per share of $3.11, net income of $137M and $184M in net cash provided by operating activities for the year.

At SAIC’s earnings call Thursday, Nazzic Keene, incoming CEO of SAIC and a 2019 Wash100 winner, responded to a question about the company’s future M&A strategy following the Engility acquisition.

“We will — we certainly will look to M&A as a factor in our growth. But we are going to be very selective,” Keene said. “It’s going to be areas that performance (inaudible) complement our strategy and give us market assets and give us competencies or capabilities or solutions that we can bring to bear.”

The Reston, Va.-based government technology services contractor posted $4.6B in net bookings for full FY 2019 with a book-to-bill ratio of approximately 1.0.

Some of the contracts secured by SAIC during the fourth quarter include a potential $900M contract to provide supply chain management services for the Defense Logistics Agency’s Global Tire Program and a potential $230M contract with the intelligence community for systems engineering and integration support services.

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