The U.S. Department of Defense awarded only three defense contracts on Tuesday, for a combined value of $319.3 million. Only one of these companies is publicly traded: Science Applications International Corp., better known as SAIC (NYSE:SAI).
SAIC's contract, worth $99.6 million to the company, came in the form of an option-year exercise on a prime vendor maintenance, repair, and operations contract to provide supplies and support for Army, Navy, Air Force, Marine Corps, and Coast Guard customers in the Defense Logistics Agency Troop Support division's North West Region -- specifically in New Jersey.
Begun with a two-year base period, this contract included provisions for up to eight one-year optional extensions. The option exercised in Tuesday's award was the eighth and final option available, and will extend SAIC's work on this contract through August 17, 2014.
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