SAIC Announces First Quarter of Fiscal Year 2024 Results

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[{"type":"text","content":"\n\nRevenues of $2.03 billion; 2% revenue growth, 3.5% growth adjusted for impact of deconsolidation of Forfeiture Support Associates joint venture\n\n\n\n\nNet income of $98 million; Adjusted EBITDA(1) of $189 million or 9.3% as a % of revenues\n\n\n\n\nDiluted earnings per share: $1.79; Adjusted diluted earnings per share(1): $2.14\n\n\n\n\nNet bookings of $2.1 billion resulting in a book-to-bill of 1.1x in the quarter\n\n\n\n\nCompany increases revenue and adjusted diluted EPS(1) guidance for fiscal year 2024\n\n\n\n RESTON, Va.--(BUSINESS WIRE)--\nScience Applications International Corporation (NYSE: SAIC), a premier Fortune 500® technology integrator driving our nation's digital transformation across the defense, space, civilian, and intelligence markets, today announced results for the first quarter ended May 5, 2023.\n\n\n“We reported strong financial results in our first quarter as evidenced by continued momentum in revenue growth and margin improvement,” said SAIC CEO Nazzic Keene. “Our results and commitment to our strategy position us well to deliver upon the multi-year targets we provided at our 2023 Investor Day as we remain focused on driving long-term shareholder value.\"\n\n\nFirst Quarter of Fiscal Year 2024: Summary Operating Results\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nMay 5,\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nPercent\nchange\n\n\n\n\n\n\n \n\n\n\n\n\n\nApril 29,\n2022\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n(in millions, except per share amounts)\n\n\n\n\n\n\n\n\nRevenues\n\n\n\n\n\n\n$\n\n\n\n\n\n\n2,028\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,996\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nOperating income\n\n\n\n\n\n\n \n\n\n\n\n\n\n157\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n26\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n125\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nOperating income as a percentage of revenues\n\n\n\n\n\n\n \n\n\n\n\n\n\n7.7\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n140 bps\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n6.3\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nAdjusted operating income(1)\n\n\n\n\n\n\n \n\n\n\n\n\n\n152\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n13\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n134\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nAdjusted operating income as a percentage of revenue...

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