McLean-based Science Applications International Corp. plans to use the name Leidos for the $7 billion technology business it forms following the split of the company.
The contracting giant announced in August it would divide its company in two, forming a roughly $4 billion publicly traded company focused on government services and a roughly $7 billion publicly traded company specializing in solutions for the national security, health and engineering sectors.
The company said the smaller of the two units will keep the SAIC name.
SAIC officials have said the split would allow both of the businesses to be better shaped for their given markets and to pursue new work that was impossible for the larger company, given potential conflicts of interest.
The name Leidos was clipped from the word kaleidoscope, which SAIC said would reflect the company’s effort to unite solutions from different angles. John Jumper, SAIC’s current chief executive, is to head the business.
Tony Moraco, who heads SAIC’s intelligence, surveillance and reconnaissance group, has been picked to head the services business.
Unlike many government contractors, Fairfax-based ICF International reported profit and revenue increases last week, buoyed by its commercial and international work.
The company said profit hit $9.2 million for the three-month period ended Dec. 31, up about 4.3 percent from $8.8 million in the same period a year earlier. Revenue increased 8.4 percent to nearly $232 million.
“The strength of our commercial business offset headwinds in the federal government arena,” said chief executive and chairman Sudhakar Kesavan, in a call with investors.
The company saw the percentage of its revenue from commercial work grow to 29 percent, up from 25 percent a year earlier. With international work as well as state and local government work, about 42 percent of ICF’s revenue does not come from the federal government, according to Kesavan.
Kay Kapoor, the former Lockheed Martin executive who most recently led Accenture Federal Services, has taken a new role as head of AT&T Government Solutions.
Kapoor will work out of AT&T’s Oakton office, overseeing the 4,000 employee unit.
Technology contractor NCI last week reported a loss, which the company said was a result of program reductions, lost recompetitions and the expiration of other task orders and contracts.
The Reston-based contractor said it lost $34.7 million in the three-month period ended Dec. 31, down from $125 million in profit in the same period a year earlier. NCI said it lost $86.8 million in 2012.
The company reported a goodwill impairment charge of $58 million in the quarter, citing the company’s “further depressed market value” as well as government spending constraints and procurement delays.
Revenue sunk almost 22 percent to $89.7 million.