<PAGE> 1
________________________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT: JUNE 30, 1997
SCIENCE APPLICATIONS INTERNATIONAL CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE
(STATE OR OTHER JURISDICTION OF INCORPORATION)
0-12771 95-3630868
(COMMISSION FILE NUMBER) (I.R.S. EMPLOYER IDENTIFICATION NO.)
10260 CAMPUS POINT DRIVE, SAN DIEGO, CA 92121
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(619) 546-6000
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
________________________________________________________________________________
<PAGE> 2
FORM 8-K
ITEM 5. OTHER EVENTS.
Registrant's subsidiary, Syntonic Technology, Inc., doing business
as TransCore, files herewith the Annual Report on Form 11-K for the TransCore
Retirement Savings Plan, previously known as the Syntonic Technology, Inc.
Retirement Savings Plan, for the plan year ended December 31, 1996.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99. Annual Report of the TransCore Retirement Savings Plan
for the plan year ended December 31, 1996.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
(Registrant) SCIENCE APPLICATIONS
INTERNATIONAL CORPORATION
Date: June 30, 1997 By: /s/ J.D. HEIPT
------------------------------
J. D. Heipt
Its: Senior Vice President
and Corporate Secretary
<PAGE> 1
EXHIBIT 99
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 11-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 (FEE REQUIRED)
For the year ended December 31, 1996
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 (NO FEE REQUIRED)
For the transition period from _________________ to __________________
Commission file number 0-12771
TRANSCORE RETIREMENT SAVINGS PLAN
(full title of the plan)
Science Applications International Corporation
10260 Campus Point Drive
San Diego, California 92121
(Name of issuer of the securities held pursuant to
the plan and the address of its principal executive offices)
Registrant's telephone number, including area code (619) 546-6000
Notices and communications from the Securities and Exchange
Commission relative to this report should be forwarded to:
Nancy C. Martin
TransCore
7611 Derry Street
Harrisburg, Pennsylvania 17111
(717) 561-2400
<PAGE> 2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the trustees (or other persons who administer the Plan) have duly caused this
annual report to be signed by the undersigned hereunto duly authorized.
TRANSCORE RETIREMENT SAVINGS
PLAN
Date: June 26, 1997 By: /s/ NC MARTIN
---------------------------- ------------------------
Nancy C. Martin
Assistant Secretary
<PAGE> 3
TRANSCORE RETIREMENT
SAVINGS PLAN
FINANCIAL REPORT
DECEMBER 31, 1996
<PAGE> 4
C O N T E N T S
Page
----
INDEPENDENT AUDITOR'S REPORT
ON THE FINANCIAL STATEMENTS AND
SUPPLEMENTARY INFORMATION 1
FINANCIAL STATEMENTS
Statements of net assets available for benefits 2-5
Statements of changes in net assets available for benefits 6-9
Notes to financial statements 10-14
SUPPLEMENTARY INFORMATION
Schedule of assets held for investment purposes 15
Schedule of reportable transactions, series of security transactions
of the same issue in excess of five percent of the fair value of
plan assets 16
<PAGE> 5
INDEPENDENT AUDITOR'S REPORT
To the Board of Directors
TransCore Retirement Savings Plan
Harrisburg, Pennsylvania
We have audited the accompanying statements of net assets available for
benefits of TransCore Retirement Savings Plan (formerly Syntonic Technology,
Inc. Retirement Savings Plan) as of December 31, 1996 and 1995, and the related
statements of changes in net assets available for benefits for the years then
ended. These financial statements are the responsibility of the Plan's
management. Our responsibility is to express an opinion on these financial
statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present
fairly, in all material respects, the net assets available for benefits of the
Plan as of December 31, 1996 and 1995, and the changes in net assets available
for benefits for the years then ended in conformity with generally accepted
accounting principles.
Our audits were performed for the purpose of forming an opinion on the
basic financial statements taken as a whole. The supplemental schedules of
Assets Held For Investment Purposes and Reportable Transactions are presented
for the purpose of additional analysis and are not a required part of the basic
financial statements, but are supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. The supplemental schedules
have been subjected to the auditing procedures applied in the audits of the
basic financial statements and, in our opinion, are fairly stated in all
material respects in relation to the basic financial statements taken as a
whole.
BEARD & COMPANY, INC.
Harrisburg, Pennsylvania
June 23, 1997
- 1 -
<PAGE> 6
TRANSCORE RETIREMENT SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
- -------------------------------------------------------------------------------
December 31, 1996
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
PARTICIPANT DIRECTED
-----------------------------------------------------------------------
MONEY
SHORT-TERM LONG-TERM MARKET WELLESLEY
FEDERAL GNMA CORPORATE PRIME INCOME
PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO FUND
------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
ASSETS
Investments, at fair value:
Shares of registered investment
companies:
Vanguard Mutual Funds $ 114,064 $ 142,664 $ 895,224 $ 662,276 $ 394,655
Science Applications International
Corporation Class A Common Stock - - - - -
Participant notes receivable - - - - -
-----------------------------------------------------------------------
Total investments 114,064 142,664 895,224 662,276 394,655
Contributions receivable - - - - -
-----------------------------------------------------------------------
Net assets available for
benefits $ 114,064 $ 142,664 $ 895,224 $ 662,276 $ 394,655
=======================================================================
</TABLE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------
INDEX INTERNATIONAL
WELLINGTON 500 WINDSOR II GROWTH PARTICIPANT SAIC
FUND PORTFOLIO FUND PORTFOLIO NOTES STOCK TOTAL
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
$2,038,251 $637,352 $930,975 $510,143 $ - $ - $6,325,604
- - - - - 1,681,467 1,681,467
- - - - 78,618 - 78,618
- -------------------------------------------------------------------------------------------------------
2,038,251 637,352 930,975 510,143 78,618 1,681,467 8,085,689
- - - - - - -
- -------------------------------------------------------------------------------------------------------
$2,038,251 $637,352 $930,975 $510,143 $78,618 $1,681,467 $8,085,689
=======================================================================================================
</TABLE>
See Notes to Financial Statements.
-2-
<PAGE> 7
TRANSCORE RETIREMENT SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS (CONTINUED)
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------
December 31, 1995
- --------------------------------------------------------------------------------------------------------------------------
Participant Directed
-----------------------------------------------------------------------
Money
Short-Term Long-Term Market Wellesley
Federal GNMA Corporate Prime Income
Portfolio Portfolio Portfolio Portfolio Fund
-----------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
ASSETS
Investments, at fair value:
Shares of registered investment
companies:
Vanguard Mutual Funds $ 109,334 $ 121,694 $1,023,515 $ 647,366 $ 469,150
Science Applications International
Corporation Class A Common Stock - - - - -
Participant notes receivable - - - - -
----------------------------------------------------------------------
Total investments 109,334 121,694 1,023,515 647,366 469,150
Contributions receivable 2,037 3,106 8,592 9,855 6,690
----------------------------------------------------------------------
Net assets available for
benefits $ 111,371 $ 124,800 $1,032,107 $ 657,221 $ 475,840
======================================================================
</TABLE>
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------
Nonparticipant Directed
- ---------------------------------------------------------------------------------------------------------------------------
Index International
Wellington 500 Windsor II Growth Participant SAIC
Fund Portfolio Fund Portfolio Notes Stock Total
- ------------------------------------------------------------------------------------------------------- ----------------
<S> <C> <C> <C> <C> <C> <C>
$ 1,756,237 $ 305,093 $ 416,234 $ 314,832 $ - $ - $ 5,163,455
- - - - - 838,395 838,395
- - - - 59,332 - 59,332
- ------------------------------------------------------------------ ---------------------------------- --------------
1,756,237 305,093 416,234 314,832 59,332 838,395 6,061,182
16,289 7,805 11,221 5,937 - - 71,532
- ------------------------------------------------------------------ ---------------------------------- --------------
$ 1,772,526 $ 312,898 $ 427,455 $ 320,769 $ 59,332 $ 838,395 $ 6,132,714
================================================================== ================================== ==============
</TABLE>
See Notes to Financial Statements.
-3-
<PAGE> 8
TRANSCORE RETIREMENT SAVINGS PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------
Year Ended December 31, 1996
- -----------------------------------------------------------------------------------------------------------------------
PARTICIPANT DIRECTED
--------------------------------------------------------------------
MONEY
SHORT-TERM LONG-TERM MARKET WELLESLEY
FEDERAL GNMA CORPORATE PRIME INCOME
PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO FUND
--------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Additions to net assets attributed to:
Investment income:
Net appreciation (depreciation) in
fair value of investments $ (1,413) $ (2,399) $ (77,531) $ - $ (1,409)
Interest - - - - -
Dividends 6,672 9,130 83,583 34,155 34,908
-------------------------------------------------------------------
5,259 6,731 6,052 34,155 33,499
-------------------------------------------------------------------
Contributions:
Participants 22,507 23,944 75,819 125,184 56,321
Employer 5,720 6,997 22,700 26,598 14,857
-------------------------------------------------------------------
28,227 30,941 98,519 151,782 71,178
-------------------------------------------------------------------
Total additions 33,486 37,672 104,571 185,937 104,677
Benefits paid to participants (3,444) (4,081) (21,803) (19,738) (19,297)
Interfund transfers/forfeitures (27,349) (15,727) (219,651) (161,144) (166,565)
-------------------------------------------------------------------
Net increase (decrease) 2,693 17,864 (136,883) 5,055 (81,185)
Net assets available for benefits:
Beginning 111,371 124,800 1,032,107 657,221 475,840
-------------------------------------------------------------------
Ending $ 114,064 $142,664 $ 895,224 $662,276 $ 394,655
===================================================================
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------
INDEX INTERNATIONAL
WELLINGTON 500 WINDSOR II GROWTH PARTICIPANT SAIC
FUND PORTFOLIO FUND PORTFOLIO NOTES STOCK TOTAL
- ------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
$ 123,401 $ 84,223 $ 83,202 $ 32,339 $ - $ 229,729 $ 470,142
- - - - 5,793 - 5,793
156,599 12,207 58,631 21,305 - - 417,190
- ------------------------------------------------------------------------------------------------------
280,000 96,430 141,833 53,644 5,793 229,729 893,125
- ------------------------------------------------------------------------------------------------------
215,092 163,731 225,179 100,429 - 72,695 1,080,901
42,713 26,851 37,375 17,139 - 7,138 208,088
- ------------------------------------------------------------------------------------------------------
257,805 190,582 262,554 117,568 - 79,833 1,288,989
- ------------------------------------------------------------------------------------------------------
537,805 287,012 404,387 171,212 5,793 309,562 2,182,114
(80,035) (10,037) (15,685) (8,983) (9,083) (36,953) (229,139)
(192,045) 47,479 114,818 27,145 22,576 570,463 -
- ------------------------------------------------------------------------------------------------------
265,725 324,454 503,520 189,374 19,286 843,072 1,952,975
1,772,526 312,898 427,455 320,769 59,332 838,395 6,132,714
- ------------------------------------------------------------------------------------------------------
$ 2,038,251 $ 637,352 $ 930,975 $ 510,143 $ 78,618 $ 1,681,467 $ 8,085,689
======================================================================================================
</TABLE>
See Notes to Financial Statements.
-4-
<PAGE> 9
TRANSCORE RETIREMENT SAVINGS PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS (CONTINUED)
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
Year Ended December 31, 1995
- -------------------------------------------------------------------------------------------------------------------------------
Participant Directed
-----------------------------------------------------------------------
Money
Short-Term Long-Term Market Wellesley
Federal GNMA Corporate Prime Income
Portfolio Portfolio Portfolio Portfolio Fund
-----------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Additions to net assets attributed to:
Investment income:
Net appreciation in fair value of
investments $ 5,614 $ 7,632 $ 144,598 $ - $ 59,407
Interest - - - - -
Dividends 6,808 7,047 63,803 35,028 27,481
-----------------------------------------------------------------------
12,422 14,679 208,401 35,028 86,888
-----------------------------------------------------------------------
Contributions:
Participants 23,779 31,454 90,127 108,784 131,206
Employer 6,213 8,683 26,575 30,164 20,214
-----------------------------------------------------------------------
29,992 40,137 116,702 138,948 151,420
-----------------------------------------------------------------------
Total additions 42,414 54,816 325,103 173,976 238,308
Benefits paid to participants - - (37,771) (106,875) (11,924)
Interfund transfers/forfeitures (31,957) (793) (29,197) (3,029) (2,350)
-----------------------------------------------------------------------
Net increase 10,457 54,023 258,135 64,072 224,034
Net assets available for benefits:
Beginning 100,914 70,777 773,972 593,149 251,806
-----------------------------------------------------------------------
Ending $ 111,371 $ 124,800 $ 1,032,107 $ 657,221 $ 475,840
========================================================================
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------
Nonparticipant Directed
- -------------------------------------------------------- ----------------------------
Index International
Wellington 500 Windsor II Growth Participant SAIC
Fund Portfolio Fund Portfolio Notes Stock Total
- -------------------------------------------------------- ------------------------- ------------
<S> <C> <C> <C> <C> <C> <C>
$ 316,512 $ 51,348 $ 55,421 $ 28,933 $ - $ 152,845 $ 822,310
- - - - 3,449 - 3,449
83,361 5,825 23,186 8,380 - - 260,919
- -------------------------------------------------------- ------------------------- -----------
399,873 57,173 78,607 37,313 3,449 152,845 1,086,678
- -------------------------------------------------------- ------------------------- -----------
217,287 130,347 159,178 86,234 - - 978,396
43,655 21,592 26,274 20,758 - - 204,128
- -------------------------------------------------------- ------------------------- -----------
260,942 151,939 185,452 106,992 - - 1,182,524
- -------------------------------------------------------- ------------------------- -----------
660,815 209,112 264,059 144,305 3,449 152,845 2,269,202
(56,172) (21,126) (9,370) (14,686) - (46,686) (304,610)
17,946 22,623 27,156 (14,344) 13,945 - -
- -------------------------------------------------------- ------------------------- -----------
622,589 210,609 281,845 115,275 17,394 106,159 1,964,592
1,149,937 102,289 145,610 205,494 41,938 732,236 4,168,122
- -------------------------------------------------------- ------------------------- -----------
$ 1,772,526 $ 312,898 $ 427,455 $ 320,769 $ 59,332 $ 838,395 $ 6,132,714
======================================================== ========================= ===========
</TABLE>
See Notes to Financial Statements.
-5-
<PAGE> 10
TRANSCORE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
1
- --------------------------------------------------------------------------------
ORGANIZATION AND DESCRIPTION OF THE PLAN
The TransCore Retirement Savings Plan (formerly Syntonic Technology,
Inc. Retirement Savings Plan) (the Plan) was established to provide
retirement benefits and additional incentives to eligible employees and
is subject to the Employee Retirement Income Security Act of 1974
(ERISA). The following description provides only general information.
Participants should refer to the Plan agreement for a more complete
description of the Plan's provisions.
Eligibility:
The Plan covers all employees, other than temporary employees,
who were hired on or before April 1, 1986 and all employees,
other than temporary employees or those covered by a
collective bargaining agreement, hired after April 1, 1986 who
have been employed for at least one year and have a minimum of
1,000 hours of service.
Contributions:
Any eligible employees who are not "highly compensated
employees" within the meaning of Section 411(q) of the
Internal Revenue Code of 1986 may elect to deduct up to 15% of
their compensation. Highly compensated employees may
contribute up to 10% of their compensation, however, the
percentage may be restricted to comply with Internal Revenue
Service mandated discrimination tests. The Company will match,
at a minimum, 50% of the first 4% of employee contributions
for members in employment of the Company. At the discretion of
the Board of Directors, the Company may make additional
matching or profit-sharing contributions. Eligible members
must be employed by the Company on the last day of the Plan
year to receive profit-sharing contributions.
Vesting:
A member's vested percentage in the matching contributions
account and the profit-sharing contribution account is as
follows:
Vested
Years of Service Percentage
-------------------------------------------- -------------
Less than one year 0
After one year, but less than two years 20
After two years, but less than three years 40
After three years, but less than four years 60
After four years, but less than five years 80
After five years 100
-6-
<PAGE> 11
TRANSCORE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
1
- --------------------------------------------------------------------------------
ORGANIZATION AND DESCRIPTION OF THE PLAN (CONTINUED)
Plan amendments:
There were no amendments to the Plan during 1995.
The following amendments were made to the Plan during 1996 and
1997 with effective dates as follows:
Effective January 1, 1996, the employer shall make an
additional matching contribution for any member who
contributed 4% or more of his/her compensation but whose
matching contribution for such year would be less than 2%
because the member reached the limits on member contributions
under Section 401(k). The additional matching contribution
credited to the participants' account will be such that the
total matching contribution shall be 2% of his compensation.
Effective January 1, 1996, voluntary after-tax contributions
are no longer permitted.
Effective July 1, 1996, Plan participants may select SAIC
stock as an investment option. Participants were granted a
one-time option to reallocate up to the lesser of 50% or
$100,000 of their existing account balance into SAIC stock.
Effective July 1, 1996, in the event of an acquisition by the
employer of a company or business unit, the period of service
of employees of such company or business unit shall not
include service with such company or business unit except to
the extent the Board of Directors, President or Chief
Operating Officer of the plan sponsor shall determine, and
such determination may be only for purposes of eligibility or
may also include credit for vesting purposes.
Effective January 1, 1997, employees who meet the eligibility
criteria may enter the plan on the first day of that payroll
period rather than the first day of the quarter following the
date the eligibility criteria are met.
Effective June 1, 1997, the name of the Plan was changed to
TransCore Retirement Savings Plan.
-7-
<PAGE> 12
TRANSCORE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
1
- --------------------------------------------------------------------------------
ORGANIZATION AND DESCRIPTION OF THE PLAN (CONTINUED)
Forfeitures:
A member's vested accrued benefit, as defined, is determined
as of the date employment is terminated. The nonvested portion
of the member's profit-sharing contribution account is
forfeited at the end of the Plan year in which termination
occurs and is reallocated as additional profit-sharing
contributions. The nonvested portion of the member's matching
contribution account is forfeited at the member's date of
termination and is used to reduce future employer
contributions.
Payment of benefits:
Benefits are generally payable in a lump sum as of the
retirement date or, at the employee's request, a later date
not beyond the date employee reaches age 70-1/2. Benefits are
also payable in the event of disability, death, termination of
service or certain hardship cases.
Tax status:
The Plan obtained its latest determination letter on March 24,
1994 in which the Internal Revenue Service stated that the
Plan, as then designed, was in accordance with the applicable
requirements of the Internal Revenue Code. The Plan has been
amended since receiving the determination letter. However, the
Plan Administrator and the Plan's tax counsel believe that the
Plan is currently designed and being operated in compliance
with the applicable requirements of the Internal Revenue Code.
Loans:
Members vested in the Plan may be eligible to borrow from
their vested accrued benefits. All approved loans require the
member to pledge the vested portion of his account as
collateral. The loan must be repaid in regular installments
deducted from the member's paycheck over a period not to
exceed five years.
Estimates:
The preparation of financial statements in conformity with
generally accepted accounting principles requires the Plan
Administrator to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure
of contingent assets and liabilities at the date of the
financial statements and the reported amounts of revenues and
expenses during the reporting period. Actual results could
differ from those estimates.
-8-
<PAGE> 13
TRANSCORE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
2
- --------------------------------------------------------------------------------
SIGNIFICANT ACCOUNTING POLICIES
Investments in the Vanguard mutual funds are valued at quoted market
prices. The fair value of the Science Applications International
Corporation Class A Common Stock was determined by independent
appraisal using an appropriate valuation methodology. Participant notes
receivable are carried at their unpaid principal balance which
approximates fair value.
Investment income is recorded as earned on an accrual basis.
Substantially all of the administrative expenses are paid by the
Company. A portion of the additional administrative and loan processing
fees are paid by Plan participants with outstanding loans.
3
- --------------------------------------------------------------------------------
PLAN TERMINATION
Although it has not expressed any intent to do so, the Company has the
right under the Plan to discontinue its contributions at any time and
to terminate the Plan subject to the provisions of ERISA.
4
- --------------------------------------------------------------------------------
NOTES RECEIVABLE
Collateralized loans made to employees vested in the Plan, bearing
interest ranging from 7.4% to 12.0% per annum, were $ 78,618 and
$59,332 at December 31, 1996 and 1995 respectively.
-9-
<PAGE> 14
TRANSCORE RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
5
- --------------------------------------------------------------------------------
INVESTMENTS
The following investments represent 5% or more of net assets available
for benefits as of December 31, 1996:
<TABLE>
<CAPTION>
Fair Value
-------------
<S> <C>
Vanguard Long-Term Corporate $ 895,224
Vanguard Money Market Reserves 662,276
Vanguard Wellington Fund 2,038,251
Vanguard Index 500 Portfolio 637,352
Vanguard Windsor II Fund 930,975
Vanguard International Growth Portfolio 510,143
Science Applications International Corporation Class A Common Stock 1,681,467
</TABLE>
-10-
<PAGE> 15
TRANSCORE RETIREMENT SAVINGS PLAN
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
FORM 5500 - ITEM 27(A)
- --------------------------------------------------------------------------------
December 31, 1996
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Identify Of Issuer Description Cost Fair Value
- ----------------------------------------- -------------------------------------------------
<S> <C> <C> <C>
Vanguard Short-Term Federal Portfolio 11,282.287 shares $ 111,601 $ 114,064
Vanguard GNMA Portfolio 13,959.316 shares 138,170 142,664
Vanguard Long-Term Corporate 101,845.745 shares 846,290 895,224
Vanguard Money Market Reserves 662,276.340 shares 662,276 662,276
Vanguard Wellesley Income Fund 19,242.081 shares 355,147 394,655
Vanguard Wellington Fund 77,944.573 shares 1,671,405 2,038,251
Vanguard Index 500 Portfolio 9,215.616 shares 515,278 637,352
Vanguard Windsor II Fund 39,067.348 shares 801,773 930,975
Vanguard International Growth Portfolio 30,992.865 shares 454,889 510,143
Science Applications International
Corporation Class A Common Stock 73,651.647 shares 1,292,490 1,681,467
</TABLE>
-11-
<PAGE> 16
TRANSCORE RETIREMENT SAVINGS PLAN
SCHEDULE OF REPORTABLE TRANSACTIONS, FORM 5500 - ITEM 27(D)
SERIES OF SECURITY TRANSACTIONS OF THE SAME ISSUE
IN EXCESS OF FIVE PERCENT OF THE FAIR VALUE OF PLAN ASSETS
- --------------------------------------------------------------------------------
Year Ended December 31, 1996
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Current Value
Of Assets On
Description Purchase Transaction
Identify of Party Of Asset Price Cost Date
- ---------------------------------- --------------- -------- -------- -------------
<S> <C> <C> <C> <C>
Science Applications International Class A, common
Corporation stock $570,463 $570,463 $570,463
</TABLE>
-12-
