SAIC Chairman and CEO John Jumper Addresses National Press Club On the Future of Government Contracting in the Era of Sequestration
MCLEAN, Va., May 16, 2013 /PRNewswire/ -- Science Applications International Corporation (SAIC) (NYSE: SAI) Chairman and CEO John Jumper today addressed the National Press Club in Washington D.C.
Commenting on the evolving mission for government customers and contractors, Jumper said: "We are all searching for efficiencies at a time when the challenges facing our government customers are taking on new dimensions. The customer is favoring smart, affordable solutions for supporting new and evolving missions.
"Attention at the moment is focused on sequestration. The bigger issues for the coming years are first, how to achieve the next level of military capability without depending on traditional modernization of big expensive platforms, and second, the vulnerability of our nation's digital and physical economic infrastructure from cyber attacks, natural disasters, terrorism and other 'new-world' dangers. Finally, businesses are looking to expand portfolios into the higher growth commercial and international markets. SAIC is fortunate to have mature, high growth businesses in both commercial health and engineering.
"We are transforming SAIC to meet these new demands. Our deep customer affinity and domain knowledge allows us to integrate platforms and capabilities and take them to the next level of performance. Our extensive experience in deep analytics and data from our government work will meet emerging demands in commercial health and engineering while our proficiency in real cyber positions us to provide real solutions as businesses become more aware of their vulnerabilities.
"SAIC has always thrived on solving complex problems. So for the next chapter of our growth, we are separating our business and designing two great new American companies with the best platforms for serving our nation's interests."
SAIC has announced plans to separate later this year into two publicly traded companies, each with its distinct competitive advantages and growth opportunities. The government technical services and enterprise IT business will retain the name SAIC, while the national security, health and engineering government and commercial solutions business will be named Leidos.
SAIC is a FORTUNE 500® scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health. The Company's approximately 40,000 employees serve customers in the U.S. Department of Defense, the intelligence community, the U.S. Department of Homeland Security, other U.S. Government civil agencies and selected commercial markets. Headquartered in McLean, Va., SAIC had annual revenues of approximately $11.2 billion for its fiscal year ended January 31, 2013. For more information, visit www.SAIC.com. SAIC: From Science to Solutions®
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K for the period ended January 31, 2013, and other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.