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Science Applications (SAIC) Grabs $99M US Air Force Contract
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Science Applications (SAIC - Free Report) recently secured a five-year, $99 million, single-award, indefinite-delivery/indefinite-quantity contract from the U.S. Air Force. Per the deal, the company will help the Air Force Research Laboratory in developing multi-spectral and multi-modal phenomenology modeling capabilities for the Air Force weapon systems.
Science Applications will also help the laboratory in the advancement of the state-of-the-art software/hardware-in-the-loop test technology. Also, it will play a crucial role in the research, development and transition of the Air Force weapon systems.
The contract also requires SAIC to deliver a research strategy to conduct the basic, applied and advanced technology demonstration that strengthens the Air Force science and technology strategy, which is known as AF Vision 2030.
Continuous Flow of Contracts for SAIC
Shares of Science Applications have underperformed the Zacks Computer – IT Services industry year to date (YTD). The stock has plunged 12% in the year so far, while the industry has gained 7.3%.
Image Source: Zacks Investment Research
Science Applications is benefiting from the continued flow of high-value contracts. A record level of awards reflects its disciplined business-development actions, consistent operational excellence and high customer satisfaction. As of Oct 29, 2021, the company’s total contract backlog was $24 billion.
Moreover, the government as a big client lends stability to the business and moderates fluctuation in revenues.
This week, Science Applications secured a $1.1 billion contract from the U.S. Navy. Per the deal, the company will produce, assemble, test and deliver MK 48 MOD 7 Torpedo Afterbody Tialcones (AB/TC) and MK29 MOD 0 Warshot Fuel Tanks to the U.S. Navy.
In November 2021, Science Applications announced that it secured $348 million worth of contracts from the space and intelligence communities in the third quarter of fiscal 2022. In the same month, SAIC revealed receiving a U.S. Navy contract worth $556 million to modernize its human resources service to the sailors, their families and future recruits.
On Nov 4, Science Applications announced that it was awarded a defense contract worth $93 million to provide R&D, engineering, testing, integration, cybersecurity, upgrades and sustainment for the numerous tactical threat systems to the U.S. Navy.
Zacks Rank & Key Picks
Currently, Science Applications carries a Zacks Rank #3 (Hold).
The Zacks Consensus Estimate for Alphabet’s fourth-quarter 2021 earnings has been revised downward by a penny to $26.71 per share over the past 30 days. For 2021, earnings estimates have moved upward by 43 cents to $108.29 per share in the last 30 days.
Alphabet’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 41.5%. The GOOGL stock has rallied 68.5% YTD.
The Zacks Consensus Estimate for Diodes’ fourth-quarter 2021 earnings has been revised upward by 23.9% to $1.45 per share over the past 60 days. For 2021, earnings estimates have moved upward by 6.3% to $5.06 per share over the past 60 days.
Diodes’ earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 10%. Shares of DIOD have rallied 52.4% YTD.
The consensus mark for PTC’s first-quarter fiscal 2022 earnings has been revised upward to $1.00 per share from 89 cents 60 days ago. For fiscal 2022, earnings estimates have been revised upward by 26 cents to $4.19 per share in the last 60 days.
PTC’s earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missed the same on one occasion, the average surprise being 47.8%. Shares of PTC have increased 0.3% YTD.
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Science Applications (SAIC) Grabs $99M US Air Force Contract
Science Applications (SAIC - Free Report) recently secured a five-year, $99 million, single-award, indefinite-delivery/indefinite-quantity contract from the U.S. Air Force. Per the deal, the company will help the Air Force Research Laboratory in developing multi-spectral and multi-modal phenomenology modeling capabilities for the Air Force weapon systems.
Science Applications will also help the laboratory in the advancement of the state-of-the-art software/hardware-in-the-loop test technology. Also, it will play a crucial role in the research, development and transition of the Air Force weapon systems.
The contract also requires SAIC to deliver a research strategy to conduct the basic, applied and advanced technology demonstration that strengthens the Air Force science and technology strategy, which is known as AF Vision 2030.
Continuous Flow of Contracts for SAIC
Shares of Science Applications have underperformed the Zacks Computer – IT Services industry year to date (YTD). The stock has plunged 12% in the year so far, while the industry has gained 7.3%.
Image Source: Zacks Investment Research
Science Applications is benefiting from the continued flow of high-value contracts. A record level of awards reflects its disciplined business-development actions, consistent operational excellence and high customer satisfaction. As of Oct 29, 2021, the company’s total contract backlog was $24 billion.
Moreover, the government as a big client lends stability to the business and moderates fluctuation in revenues.
This week, Science Applications secured a $1.1 billion contract from the U.S. Navy. Per the deal, the company will produce, assemble, test and deliver MK 48 MOD 7 Torpedo Afterbody Tialcones (AB/TC) and MK29 MOD 0 Warshot Fuel Tanks to the U.S. Navy.
In November 2021, Science Applications announced that it secured $348 million worth of contracts from the space and intelligence communities in the third quarter of fiscal 2022. In the same month, SAIC revealed receiving a U.S. Navy contract worth $556 million to modernize its human resources service to the sailors, their families and future recruits.
On Nov 4, Science Applications announced that it was awarded a defense contract worth $93 million to provide R&D, engineering, testing, integration, cybersecurity, upgrades and sustainment for the numerous tactical threat systems to the U.S. Navy.
Zacks Rank & Key Picks
Currently, Science Applications carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader technology sector include Google-parent Alphabet (GOOGL - Free Report) , Diodes (DIOD - Free Report) and PTC Inc. (PTC - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Alphabet’s fourth-quarter 2021 earnings has been revised downward by a penny to $26.71 per share over the past 30 days. For 2021, earnings estimates have moved upward by 43 cents to $108.29 per share in the last 30 days.
Alphabet’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 41.5%. The GOOGL stock has rallied 68.5% YTD.
The Zacks Consensus Estimate for Diodes’ fourth-quarter 2021 earnings has been revised upward by 23.9% to $1.45 per share over the past 60 days. For 2021, earnings estimates have moved upward by 6.3% to $5.06 per share over the past 60 days.
Diodes’ earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 10%. Shares of DIOD have rallied 52.4% YTD.
The consensus mark for PTC’s first-quarter fiscal 2022 earnings has been revised upward to $1.00 per share from 89 cents 60 days ago. For fiscal 2022, earnings estimates have been revised upward by 26 cents to $4.19 per share in the last 60 days.
PTC’s earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missed the same on one occasion, the average surprise being 47.8%. Shares of PTC have increased 0.3% YTD.