From Nasdaq: 2024-05-13 11:06:00

Science Applications International Corporation (SAIC) has won a $232 million contract from the U.S. Air Force to develop signals intelligence and electronic warfare systems for the U.S. Army. The contract was secured through a multiple-award contract vehicle managed by the DoD IAC.

SAIC has received multiple contracts to provide modern technology to various branches of the U.S. government, including the Army Reserve, Department of Veteran Affairs, Navy, National Security, and more. These contracts have significantly contributed to SAIC’s revenue and market presence in the defense and federal sectors.

Having major clients like the U.S. Army and government agencies ensures stable revenue for Science Applications. However, the company faces challenges like rising component costs and tough competition from other players in the market, affecting its near-term profitability. Continuous improvement in offerings and competitive pricing are vital for SAIC’s success.

Science Applications holds a Zacks Rank #3 (Hold) and its shares have increased by 36% in the past year. Other top-ranked technology stocks include AppFolio, Celestica, and Alphabet, each with a Zacks Rank #1 (Strong Buy) and strong growth prospects.

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Read more at Nasdaq: Science Applications (SAIC) Secures Contract Worth $232 Million