SAIC Wins Pentagon Contract That Could Reach $667.4 Million

On Thursday, the U.S. Department of Defense announced that it is awarding Science Applications International Corp. (NYSE: SAI  ) a $222.5 million contract to provide "systems engineering, integration, testing, large-scale fabrication, non-developmental item procurement, interim repair and maintenance services and training" to the U.S. Navy's Space and Naval Warfare Systems Center.

Only $25,000 of the contract's funds will be "obligated" at the time of award. The balance will be paid out as services are required over the course of an initial one-year contract expiring in January 2014. The Pentagon's award includes options for renewal on additional one-year terms which could as much as triple the ultimate value of the award to as much as $667.4 million. Work will be performed in Charleston, S.C., and Norfolk, Va.

In the same press release, the Department of Defense announced $57 million in additional contracts for SAIC for work in Kuwait and Afghanistan.


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Rich Smith

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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