Engineering and technical services provider
) disclosed that its spin-off, Leidos Holdings Inc., will have
its headquarter in Reston, Va. The relocation is likely to take
place in phases, with approximately 150 employees immediately
shifting to the new headquarters in Reston and an additional 450
employees moving over time.
SAIC Inc. intends to split into two separate companies by the end
of the current year. The namesake will continue to be housed in
the erstwhile headquarters in McLean, Va., while Leidos will have
a new facility.
The namesake division, Science Applications International Corp,
will focus on information technology and other services. On the
other hand, Leidos will primarily concentrate on national
security, engineering and other related works.
Since its inception in 1969, SAIC Inc. has utilized its domain
knowledge to solve critically important problems of the country
in areas such as national security, energy and the environment,
critical infrastructure, and health. The company presently has
employee strength of approximately 38,000, serving 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.
SAIC Inc. registered annual revenues of approximately $10.6
billion for the fiscal year ended Jan 31, 2012. The company is
scheduled to release its second quarter fiscal 2014 results on
Sep 4, 2013. The current Zacks Consensus Estimate for the second
quarter is pegged at 20 cents.
SAIC Inc. has a Zacks Rank #3 (Hold). Other players in the
industry worth mentioning include
Booz Allen Hamilton Holding Corporation
Providence Service Corp.
), both carrying a Zacks Rank #1 (Strong Buy), and
ICF International Inc.
) that retains a Zacks Rank #2 (Buy).
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PROVIDENCE SVC (PRSC): Free Stock Analysis
SAIC INC (SAI): Free Stock Analysis Report
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