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SAIC SAIC Announces Third Quarter of Fiscal Year 2022 Results December 6 , 2021 • Revenues increase to $ 1.9 billion ; 4.4 % total revenue growth , 2.1 % growth excluding acquired revenues • Diluted earnings per share increase to $ 1.22 ; Adjusted diluted earnings per share ( 1 ) • increase to $ 1.85 Company raises revenue , adjusted EBITDA margin ( 1 ) , adjusted diluted EPS ( 1 ) , and free cash flow ( 1 ) guidance for fiscal year 2022 RESTON , Va .-- ( BUSINESS WIRE ) -- Science Applications International Corporation ( NYSE : SAIC ) , a premier Fortune 500Ⓡ technology integrator driving our nation's digital transformation across the defense , space , civilian , and intelligence markets , today announced results for the third quarter ended October 29 , 2021 . " Our focus remains on positioning our portfolio and empowering our talented workforce to meet the needs of our customer , today and in the future . " said SAIC CEO Nazzic Keene . “ Our strong results and sustained growth reflect the continued progress we are making in aligning SAIC with areas of increasing customer demand . We continue to see attractive opportunities to profitably grow our business . " Third Quarter of Fiscal Year 2022 : Summary Operating Results Three Months Ended Nine Months Ended Revenues $ 1,898 2020 October 29 , Percent October 30 , October 29 , Percent October 30 , 2021 change 2021 change ( in millions , except per share amounts ) 4 % $ 1,818 $ 5,612 2020 Operating income 114 Operating income as a percentage of revenues 4 % 6.0 % -10bps 110 6.1 % 5 % $ 5,339 377 31 % 6.7 % 130bps 288 5.4 % Adjusted operating income ( 1 ) 126 10 % 115 413 23 % 336 Adjusted operating income as a percentage of revenues Net income attributable to common stockholders 6.6 % 30bps 6.3 % 7.4 % 110bps 6.3 % 71 18 % 60 234 59 % 147 EBITDA ( 1 ) 159 → % 159 505 20 % 420 EBITDA as a percentage of revenues 8.4 % -30bps 8.7 % 9.0 % 110bps 7.9 % Adjusted EBITDA ( 1 ) 171 4 % 164 540 15 % 468 Adjusted EBITDA as a percentage of revenues 9.0 % -bps 9.0 % 9.6 % 80bps 8.8 % Diluted earnings per share $ 1.22 Adjusted diluted earnings per share ( 1 ) $ Net cash provided by operating activities Free cash flow ( 1 ) $ 1.85 $ 134 124 20 % $ 14 % $ ( 42 ) % $ ( 44 ) % $ 1.02 $ 4.01 60 % $ 2.51 1.62 231 $ 222 $ $ 5.76 25 % $ 4.61 415 ( 41 ) % $ 702 373 ( 21 ) % $ 470 ( 1 ) Non - GAAP measure , see Schedule 5 for information about this measure . Third Quarter Summary Results Revenues for the quarter increased $ 80 million compared to the same period in the prior year primarily due to ramp up on new and existing contracts , the acquisition of Halfaker and the accelerated amortization on certain off - market liability contracts , partially offset by contract completions . Adjusting for the impact of acquired revenues and divested revenues , revenues grew 2.1 % primarily due to net increases in program volume and new awards . We estimate the third quarter program impact from the COVID - 19 pandemic to be approximately $ 30 million , primarily driven by reduced volume in our supply chain business . Operating income as a percentage of revenues of 6.0 % , decreased from 6.1 % in the comparable prior year period primarily due to lower employee benefit costs in the prior year period and higher acquisition and integration costs in the current year period , partially offset by net favorable changes in contract estimates and the accelerated amortization on certain off - market liability contracts . Adjusted EBITDA ( 1 ) as a percentage of revenues for the quarter of 9.0 % remained consistent with the same period in the prior year . Net favorable changes in contract estimates and revenue resulting from the accelerated amortization on certain off - market liability contracts were offset by lower