SAIC - Science Applications wins $1.1B U.S. Navy contract

Science Applications International (NYSE:SAIC) has won a $1.1B contract from the U.S. Navy to develop, assemble, test and deliver MK 48 MOD 7 Torpedo Afterbody Tailcones (AB/TC) and MK29 Mod 0 Warshot Fuel Tanks. The AB/TC is the section of the torpedo containing propulsion and navigations systems, with 26 major sub-assemblies requiring the integration of greater than 500 pieces and parts in each. This award builds on a previous contract from September 2016, which initiated production restart of the Afterbody Tailcone for the MK 48 Heavyweight Torpedo. Later in October 2020, SAIC won a U.S. Navy contract for mission engineering and integration support to produce, test and deliver MK 29 Warshot and MK 28 Exercise Torpedo Fuel Tanks for the Naval Undersea Warfare Center Division Keyport. Science Applications shares are +5.19% pre-market after the company reported Q3 earnings today.

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Science Applications wins $1.1B U.S. Navy contract