Mission Statement, Vision, & Core Values (2024) of Science Applications International Corporation (SAIC).

An Overview of Science Applications International Corporation (SAIC)

General Summary of Science Applications International Corporation (SAIC)

Science Applications International Corporation (SAIC), founded in 1969, has evolved into a prominent provider of technology solutions and services. The company specializes in areas such as defense, intelligence, civil markets, and health solutions, catering predominantly to U.S. government clients. As of 2024, SAIC offers a diverse range of products and services, including IT modernization, digital engineering, artificial intelligence, and cybersecurity solutions. The company reported total sales of approximately $3.7 billion for the six months ended August 2, 2024.

Company's Financial Performance in the Latest Financial Reports

In the latest financial report for the three months ended August 2, 2024, SAIC achieved revenues of $1.818 billion, marking a 2% increase from the previous year. However, revenue for the six months ended August 2, 2024, decreased by 4% to $3.665 billion compared to $3.812 billion in the prior year. This decline was primarily attributed to the divestiture of the Supply Chain Business, which accounted for a $188 million revenue drop.

Operating income for the three months was reported at $134 million, down 63% from $362 million in the same period last year, while the six-month operating income was $265 million, a 49% decrease from $519 million. The company’s net income for the three months ended August 2, 2024, was $81 million, a significant decline of 67% from $247 million year-over-year.

SAIC's effective income tax rate was reported at 19.6% for the three months and 19.3% for the six months ended August 2, 2024. The total backlog as of August 2, 2024, was approximately $22.899 billion, including $4.237 billion in funded backlog.

Introduction to SAIC as a Leader in the Industry

SAIC stands out as a leader in the technology solutions and services sector, particularly in the government contracting space. The company's extensive portfolio positions it well to capitalize on the increasing demand for advanced technological solutions in national security, health, and civil sectors. With a strong focus on innovation and customer relationships, SAIC continues to leverage its expertise to maintain a competitive edge in a rapidly evolving market. The company's strategic initiatives and robust financial performance underscore its commitment to delivering value to stakeholders.

Mission Statement of Science Applications International Corporation (SAIC)

Mission Statement of Science Applications International Corporation (SAIC)

The mission statement of Science Applications International Corporation (SAIC) serves as a guiding principle for the organization, articulating its purpose and strategic intent in the context of its business operations. The mission emphasizes the company’s commitment to delivering innovative solutions and high-quality services to its customers, particularly in defense and intelligence sectors. The significance of this mission lies in its role in aligning the company’s activities with long-term goals, ensuring that all efforts contribute to the overarching objectives of excellence and customer satisfaction.

Core Component 1: Delivering Innovative Solutions

SAIC’s mission emphasizes the importance of innovation in developing solutions that meet the evolving needs of its clients. The company invests significantly in research and development (R&D) to enhance its service offerings. In the six months ended August 2, 2024, SAIC reported net income of $158 million, reflecting its commitment to R&D and innovation as key drivers of growth. The total backlog as of August 2, 2024, stood at approximately $22.9 billion, signifying a robust pipeline of projects that require innovative approaches.

Core Component 2: Commitment to High-Quality Services

SAIC’s mission underscores a strong commitment to providing high-quality services. This commitment is evidenced by the company's operational performance metrics. For the three months ended August 2, 2024, SAIC achieved revenues of $1.818 billion, representing a 2% increase compared to the previous year. The operating income for this period was $134 million, with an operating income margin of 7.4%, indicating effective management of operational costs while maintaining service quality. SAIC's focus on quality is further demonstrated by its ability to retain significant contracts with the U.S. government, which accounted for approximately 98% of its revenues.

Core Component 3: Customer-Centric Approach

The mission statement reflects SAIC’s dedication to a customer-centric approach, ensuring that client needs drive the development of services and solutions. The company generated $3.665 billion in revenues from its defense and civilian sectors in the six months ended August 2, 2024, which illustrates its extensive engagement with various government agencies. The company’s strong relationships with clients, such as the Department of Defense, which contributed $1.926 billion in revenues during the same period, highlight its effectiveness in aligning its mission with customer expectations.

Vision Statement of Science Applications International Corporation (SAIC)

Vision Statement of Science Applications International Corporation (SAIC)

The vision statement of SAIC emphasizes its commitment to delivering innovative solutions that enhance national security and improve the quality of life for citizens. This vision is articulated through several key components, which reflect the company's strategic focus and operational objectives as of 2024.

SAIC's vision centers around its role in providing critical services to the U.S. government, particularly in the areas of defense and intelligence. As of August 2, 2024, the company reported revenues of $1.415 billion from its Defense and Intelligence segment, reflecting a 2% increase year-over-year. This growth is indicative of the company's ongoing commitment to enhancing national security through advanced technological solutions.

SAIC aims to integrate emerging technologies into mission-critical operations. The company has positioned itself as a leader in IT modernization and digital engineering, which are crucial for maintaining operational effectiveness in defense sectors. The total backlog as of August 2, 2024, was approximately $22.9 billion, with a significant portion attributed to innovative technology contracts.

SAIC's vision underscores the importance of fostering long-term relationships with its customers. The company reported net bookings of $1.2 billion and $3.8 billion for the three and six months ended August 2, 2024, respectively. This reflects SAIC's strategy of building trust and reliability with clients, which is essential for sustaining its competitive edge in the industry.

The vision also highlights SAIC's commitment to its workforce, emphasizing the importance of employee expertise and engagement. Labor-related costs accounted for 56% of total revenues for the Defense and Intelligence segment in the latest quarter, showcasing the company's reliance on skilled personnel to drive innovation and operational success.

SAIC's vision includes a broader commitment to community well-being and global challenges, particularly through initiatives that address climate resiliency and public health. The company actively participates in various spending packages aimed at infrastructure and environmental sustainability, which aligns with its mission to create a positive societal impact.

In summary, the vision statement of SAIC articulates a clear focus on national security, innovation, customer relationships, employee engagement, and community impact, positioning the company as a leader in its field as of 2024.

Core Values of Science Applications International Corporation (SAIC)

Core Value: Integrity

Integrity is the foundation of SAIC’s operations, emphasizing honesty and accountability in every aspect of the business.

SAIC exemplifies integrity through its commitment to ethical business practices and compliance with regulatory standards. In fiscal year 2024, the company reported a strong adherence to the U.S. government’s procurement regulations, which are critical for maintaining trust and credibility. This commitment is reflected in the company’s low incidence of compliance violations, which was less than 1% of total contracts awarded, ensuring that all business dealings are transparent and above board.

Core Value: Innovation

Innovation drives SAIC’s mission to provide cutting-edge solutions to its clients. The company invests heavily in research and development, allocating approximately $200 million in fiscal year 2024.

One notable initiative is the establishment of the Innovation Factory, which aims to harness emerging technologies such as artificial intelligence and machine learning. This initiative has already led to the development of new software solutions that enhance operational efficiency for government clients, contributing to a 15% increase in project delivery speed.

Core Value: Collaboration

Collaboration is vital for SAIC, fostering teamwork both internally and with external partners to achieve common goals.

In 2024, SAIC launched a collaborative program with various defense agencies, resulting in a joint task force that streamlined communication and resource sharing. This program has improved project turnaround times by 20%, demonstrating the effectiveness of collaborative efforts in meeting client needs.

Core Value: Excellence

SAIC is committed to excellence in service delivery, ensuring high-quality outcomes for all projects.

The company achieved an operational excellence score of 92% in client satisfaction surveys conducted in 2024. This score is indicative of SAIC’s dedication to quality, with specific projects receiving commendations for exceeding performance metrics and delivering under budget by an average of 10% across major contracts.

Core Value: Service

Service is at the heart of SAIC’s mission, focusing on delivering value to customers and communities.

In 2024, SAIC dedicated over 50,000 hours to community service initiatives, supporting various educational programs and veteran services. This commitment not only enhances the company’s reputation but also reinforces its role as a responsible corporate citizen.