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Department of Defense Awards SAIC Prime Position on $1.8B PRISM Contract
Globe Newswire 16-Dec-2024 8:30 AM
RESTON, Va., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Science Applications International Corp. (NASDAQ:SAIC) has been awarded a prime position on the $1.8 billion Personnel and Readiness Infrastructure Support Management (PRISM) Multiple Award Task Order Contract ("MATOC") vehicle to support the Department of Defense (DoD) and its need to obtain critical services in a shorter time frame. The contract award is for one base year and four option years.
The PRISM contract provides the Office of the Undersecretary of Defense for Personnel and Readiness (OUSD P&R) and strategic partners with innovative and cost-effective services through the use of Streamline Task Order Ordering Procedures ("STOOP"). These procedures result in a significant reduction in acquisition lead time and increased flexibility for the entire acquisition process.
"Under the PRISM MATOC, SAIC aims to enhance the operational capabilities of the Office of the Under Secretary of Defense for Personnel & Readiness (OUSD P&R) and its Directorates," said Josh Jackson, executive vice president and manager, Army Business Group. "We steadfastly commit to providing innovative and cost-effective services as well as leveraging expertise in technology integration, data analytics, and mission support to empower OUSD P&R to streamline operations, optimize readiness, and ensure a resilient and agile defense personnel framework."
Under the contract, SAIC is committed to bolstering Department of Defense (DoD) readiness through advanced data integration and instantaneous analytics. This initiative will refine operational workflows, elevate strategic decision-making, and cultivate a well-informed, proactive defense community. By doing so, SAIC will directly contribute to the reinforcement of national security, delivering it with heightened proficiency and impact.
About SAIC SAIC is a premier Fortune 500 technology integrator focused on advancing the power of technology and innovation to serve and protect our world. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in mission IT, enterprise IT, engineering services and professional services. We integrate emerging technology, rapidly and securely, into mission critical operations that modernize and enable critical national imperatives.
We are approximately 24,000 strong; driven by mission, united by purpose, and inspired by opportunities. SAIC is an Equal Opportunity Employer, fostering a culture of diversity, equity and inclusion, which is core to our values and important to attract and retain exceptional talent. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.4 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.
Forward-Looking Statements Certain statements in this release contain or are based on "forward-looking" information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as "expects," "intends," "plans," "anticipates," "believes," "estimates," "guidance," and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Legal Proceedings" sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at?saic.com or on the SEC's website at?sec.gov. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC's expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.
