Reston, Virginia-based government IT contractor Science Applications International reported $1.76 billion in first-quarter revenue, up 8.8% from the same quarter a year ago. The increase was fueled by its acquisition of the federal services IT business of Unisys Corp., Unisys Federal for $1.2 billion, and new U.S. Air Force and intelligence agency contracts.
Acquisition and integration costs held back operating income. As a result, net income fell 35% to $36 million.
SAIC also estimates a first-quarter impact from the COVID-19 pandemic of approximately $33 million in revenue, driven by SAIC employees’ and subcontractors’ inability to access facilities to perform customer contracting work.
SAIC鈥檚 acquisition of Unisys Federal added $1.5 billion to SAIC鈥檚 backlog of signed business, which stood at $16.6 billion at the end of the quarter.
It was SAIC鈥檚 first major acquisition since January 2019, when it completed its $2.5 billion acquisition of Chantilly-based Engility Holdings.
SAIC is one of the largest government IT contractors in the D.C. region, with 6,500 employees locally and 23,000 globally.
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