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SAIC Reports 4% Rise in Q2 FY 2022 Revenue, $24B in Total Backlog; Nazzic Keene Quoted

Science Applications International Corp. (NYSE: SAIC) reported $1.83 billion in revenue for the second quarter of its 2022 fiscal year, up 4 percent from the prior year period, with diluted earnings per share of $1.41

The Reston, Virginia-based government technology services contractor said Thursday it posted $1.6 billion in Q2 FY 2022 net bookings with a book-to-bill ratio of 0.9 and ended the quarter with an estimated total backlog of approximately $24 billion, of which $3.3 billion was funded.

Notable contracts secured by SAIC during the previous quarter include a potential $355 million contract to provide digital and systems engineering support for defense and intelligence agencies and a potential four-year, $90 million contract with the U.S. Air Force for sustainment and logistics services to help update defenses against small drone threats.

Nazzic Keene, CEO of SAIC and a 2021 Wash100 Award winner, said the company took significant actions across strategic, operational and financial areas during the second quarter and the quarterly financial results represent “increased organic growth and a second straight quarter of record profitability.”

“We added strategic components to the portfolio through the acquisitions of Halfaker and Associates and Koverse, increasing market access in health IT and artificial intelligence,” Keene added.

SAIC recorded $133 million in Q2 FY 2022 operating income and free cash flow of $85 million for the quarter. The company noted that stockholders of record as of Oct. 15 will receive a cash dividend of $0.37 per share, payable on Oct. 29.

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