SAIC or Science Applications International Corporation (SAIC) is a leading provider of technical, engineering and enterprise IT for the U.S. government. With a strengthened portfolio after two major acquisitions, recent contract awards, and a growing backlog, the outlook has become more promising for the company. Meanwhile, COVID-19 caused a limited impact on the latest quarterly results, and the forecast for the fiscal year signals business resilience and earnings growth.
Earnings highlights
SAIC finished the first quarter of fiscal 2021 generally in line with estimations, as revenue hit $1.8 billion, up 9% from last year, reflecting