RESTON, Va.--(BUSINESS WIRE)--First paragraph, second sentence of release dated February 11, 2020, should read: The multiple-award contract is valued at $133 million over a five-year period for all awardees. (instead of The multiple-award contract is valued at more than $248 million over a five-year period for all awardees.).
The corrected release reads:
SAIC WINS IT SERVICES CONTRACT TO CONTINUE SUPPORT FOR PENSION BENEFIT GUARANTY CORPORATION
The Pension Benefit Guaranty Corporation (PBGC) awarded Science Applications International Corp. (NYSE: SAIC) a contract to continue to provide the company’s IT operation support services, including IT operation and management services; development modernization, and enhancement; and SharePoint Solutions. The multiple-award contract is valued at $133 million over a five-year period for all awardees.
“We’re proud to work with PBGC in providing IT solutions and support to help them in their efforts to protect the retirement security of millions of Americans,” said Bob Genter, executive vice president and general manager of the Civilian Markets Customer Group.
SAIC’s primary point of differentiation is its U-Centric approach, which focuses on solutions and support for the end-user. SAIC’s team delivers top-notch solutions that have earned the organization high marks through the Contractor Performance Assessment Reporting System.
“Our emphasis on the customer experience of the end-user is foundational to our support for our clients. Our team has done an excellent job supporting our customer, and I really can’t thank them enough for their tireless work,” Genter continued.
PBGC protects the retirement security of more than 35 million American workers, retirees, and their families, in private sector defined benefit pension plans. It was created by the Employee Retirement Income Security Act in 1974 to encourage the continuation and maintenance of pension plans.
SAIC is one of three awardees.
SAIC® is a premier technology integrator solving our nation’s most complex modernization and readiness challenges. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes high-end solutions in engineering, IT, and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective, and efficient solutions.
We are 23,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has pro forma annual revenues of approximately $6.5 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.
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.