SAIC - Science Applications Intl secures $123.68M equipment contract for US Navy

Science Applications International (NYSE:SAIC) is awarded a $123.68M fixed-price incentive, firm-fixed-price and cost-plus-fixed-fee contract for the production of MK 48 Mod 7 heavyweight afterbody/tailcones and warshot fuel tank torpedo equipment and support. This contract includes options, which, if exercised, would bring the cumulative value of this contract to $1.11B. This contract combines purchases for the Navy and the governments of Australia and Taiwan under the Foreign Military Sales program. Work will continue through January 2033. Fiscal 2021 weapons procurement funds in the amount of ~$96.96M (81%); and FMS/Armaments Cooperative Program funds in the amount of ~$22.55M (19%), will be obligated at time of award, not to expire at the end of the current fiscal year. The Naval Sea Systems is the contracting activity. Further company analysis: 'Science Applications International: A Stable Business With A Fair Valuation'

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Science Applications Intl secures $123.68M equipment contract for US Navy