Science Applications International Corporation (NYSE:SAIC) Q3 2021 Earnings Conference Call - Final Transcript

Dec 03, 2020 • 05:00 pm ET

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Science Applications International Corporation (NYSE:SAIC) Q3 2021 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good afternoon, and welcome to SAIC's Third Quarter 2021 Earnings Call.

At this time, I would like to turn the conference over to Shane Canestra, SAIC's Vice President of Investor Relations. Please go ahead, sir.

Executive
Shane Canestra

Good afternoon, and thank you for joining SAIC's third quarter fiscal year 2021 earnings call. My name is Shane Canestra, Vice President of Investor Relations and joining me today to discuss our business and financial results are Nazzic Keene, SAIC's Chief Executive Officer; and Charlie Mathis, our Chief Financial Officer.

Today, we will discuss our results for the quarter ended October 30, 2020. This afternoon, we issued our earnings release, which can be found at investors.saic.com, where you'll also find supplemental financial presentation slides to be utilized in conjunction with today's call. Both of these documents, in addition to our Form 10-Q to be filed soon, could be utilized in evaluating our results and outlook along with information provided on today's call.

Please note that we may make forward-looking statements on today's call that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from statements made on this call. I refer you to our SEC filings for a discussion of these risks, including the Risk Factors section of our Annual Report on Form 10-K and quarterly reports on Form 10-Q. In addition, the statements represent our views as of today, and subsequent events may cause our views to change. We may elect to update the forward-looking statements at some point in the future, but we specifically disclaim any obligation to do so. In addition, we will discuss non-GAAP financial measures and other metrics, which we believe provide useful information for investors, and both our press release and supplemental financial presentation slides include reconciliations to the most comparable GAAP measures.

It is now my pleasure to introduce our CEO, Nazzic Keene.

Executive
Nazzic Keene

Thank you, Shane, and good afternoon. As reported in our press release today, SAIC's third quarter results continue to reflect SAIC's strong financial performance and the continued building of momentum through our second straight quarter of highest book-to-bill and backlog in our seven-year history.

Over the past few months, we have focused on the health and welfare of our employees, assisting our customers as they rapidly transition to a more virtual environment and continuing the strong program execution that SAIC is known for. As these efforts continue, we've also taken strategic, organizational and leadership steps that are foundational to the long-term success of SAIC. We are building on our past while positioning for the future. I am very pleased with the progress we've made. But before I discuss how we're shaping our future, let me briefly discuss our third quarter results.

SAIC continues to deliver strong revenues and profitability, excellent cash flow generation and outstanding business development results. Internal revenue growth for the third quarter, excluding the impact of COVID-19 was 3%, our third consecutive quarter of organic growth. And on a year-to-date basis, again if you exclude