Exhibit 99.1
saicrilogorrgbsm.jpg
SAIC Announces Third Quarter of Fiscal Year 2019 Results
 
Revenues: $1.2 billion
Diluted earnings per share: $1.11; Adjusted diluted earnings per share(1): $1.35
Net income: $48 million
Adjusted EBITDA(1) as a % of revenues: 8.3%
Cash flows provided by operating activities: $86 million
Book-to-bill ratio of 1.0, excluding $1.2 billion of single-award IDIQ ceiling value
RESTON, VA, December 6, 2018—Science Applications International Corporation (NYSE: SAIC), a leading technology integrator providing full life-cycle services and solutions in the technical, engineering, intelligence, and enterprise information technology markets, today announced results for the third quarter ended November 2, 2018.
“As we prepare for the future, we continue to focus on delivering strong performance across our contract portfolio, as evidenced by our third quarter results. Our fifth consecutive quarter of revenue growth and the highest profitability in our five year history are proof points of the disciplined execution of our strategy,” said SAIC CEO Tony Moraco. "We look forward to accelerating the execution of our long term strategy, Ingenuity 2025, with the acquisition of Engility. We will enter next year with increased customer access, more investments in competitive and differentiated solutions, along with improved cash flow to enhance opportunities for shareholder value creation."
Third Quarter of Fiscal Year 2019: Summary Operating Results
 
 
Three Months Ended
 
Nine Months Ended
 
 
November 2, 2018

 
Percent
change
 
November 3, 2017

 
November 2, 2018

 
Percent
change
 
November 3, 2017

 
 
(in millions, except per share amounts)
Revenues
 
$
1,177

 
3
 %
 
$
1,145

 
$
3,467

 
4
%
 
$
3,326

Operating income
 
73

 
1
 %
 
72

 
213

 
10
%
 
194

Operating income as a percentage of revenues
 
6.2
%
 
-10
 bps
 
6.3
%
 
6.1
%
 
30
bps
 
5.8
%
Adjusted operating income(1)
 
87

 
19
 %
 
73

 
227

 
15
%
 
197

Adjusted operating income as a percentage of revenues
 
7.4
%
 
100
 bps
 
6.4
%
 
6.5
%
 
60
bps
 
5.9
%
Net income
 
48

 
12
 %
 
43

 
146

 
14
%
 
128

EBITDA(1)
 
84

 
 %
 
84

 
244

 
7
%
 
227

EBITDA as a percentage of revenues
 
7.1
%
 
-20
 bps
 
7.3
%
 
7.0
%
 
20
bps
 
6.8
%
Adjusted EBITDA(1)
 
98

 
15
 %
 
85

 
258

 
12
%
 
230

Adjusted EBITDA as a percentage of revenues
 
8.3
%
 
90
 bps
 
7.4
%
 
7.4
%
 
50
bps
 
6.9
%
Diluted earnings per share
 
$
1.11

 
13
 %
 
$
0.98

 
$
3.37

 
18
%
 
$
2.86

Adjusted diluted earnings per share(1)
 
$
1.35

 
36
 %
 
$
0.99

 
$
3.61

 
24
%
 
$
2.90

Net cash provided by operating activities
 
$
86

 
8
 %
 
$
80

 
$
162

 
22
%
 
$
133

Free cash flow(1)
 
$
80

 
11
 %
 
$
72

 
$
138

 
17
%
 
$
118


(1)Non-GAAP measure, see Schedule 5 for information about this measure.


The following information was filed by Science Applications International Corp (SAIC) on Thursday, December 6, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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