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Science Applications (SAIC) Gets $349M U.S. Navy TACNET Deal
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Science Applications (SAIC - Free Report) recently received a $349 million contract from the U.S. Navy to provide support for the Afloat and Ashore Tactical Networks (TACNET). Under the five-year contract, the company will continue to deliver In-Service Engineering Agent functions to the Naval Information Warfare Center Pacific.
SAIC will provide management, engineering, technical, integrated logistics, configuration management and life cycle support for afloat and ashore TACNET and command, control, communications, computers and intelligence systems in San Diego, CA.
SAIC's expertise in network engineering, modernization, sustainment and logistics solutions will aid the U.S. Navy to transmit and receive information with improved combat readiness and continue to upgrade its IT infrastructure goals.
Science Applications is currently focusing on the federal government marketplace and capturing more market share. It intends to drive operational excellence by intensively focusing on its organic and inorganic growth strategy and strengthening existing customer relationships while building newer ones. Increased federal spending is anticipated to accelerate the pace of contract awards, which, in turn, will be beneficial for SAIC’s top-line growth.
Science Applications International Corporation Price and Consensus
Recently, in January, United States Transportation Command (“USTRANSCOM”) selected SAIC to modernize the organization’s IT management systems. Under the contract, the company will also be responsible for infusing the latest innovations into USTRANSCOM’s enterprise IT and introducing IT-as-a-service models.
In December 2022, SAIC secured a blanket purchase agreement from the Transportation Security Administration (TSA) to continue performing the operational testing and evaluation of TSA airport screening equipment and non-screening systems. The contract has an estimated value of $150 million.
In November 2022, SAIC secured a single-award contract worth $757 million from the U.S. Army Enterprise Service Desk to provide software development and management services. In September 2022, it won the Systems and Software Assurance Services 2 contract worth $170 million from the National Aeronautics and Space Administration.
In the third quarter of fiscal 2023, SAIC revenues rose 1% year over year to $1.91 billion. The increase was primarily driven by the ramp-up of new and existing contracts, partially offset by contract completions and lower accelerated amortization on certain off-market liability contracts.
The Zacks Consensus Estimate for Science Applications’ fourth-quarter fiscal 2023 revenues is pegged at $1.85 billion compared with the year-ago quarter’s $1.78 billion.
Zacks Rank & Stocks to Consider
SAIC currently carries a Zacks Rank #3 (Hold). Shares of SAIC jumped 19% in the past year.
The Zacks Consensus Estimate for Bandwidth’s fourth-quarter 2022 earnings has been revised by a penny to 4 cents per share over the past 60 days. For 2022, earnings estimates have moved north by 25 cents to 37 cents per share in the past 30 days.
BAND's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 301.8%. Shares of the company have declined 65.3% in the past year.
The Zacks Consensus Estimate for Clearfield's first-quarter fiscal 2023 earnings has been revised 15 cents northward to $1.02 per share over the past 60 days. For fiscal 2023, earnings estimates have improved by 37.5% to $4.95 per share over the past 60 days.
CLFD’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 39.7%. Shares of the company have risen 20.6% in the past year.
The Zacks Consensus Estimate for Zscaler's first-quarter fiscal 2023 earnings has been revised 3 cents north to 29 cents per share over the past 30 days. For fiscal 2023, earnings estimates have moved north by 6 cents to $1.23 per share in the past 30 days.
ZS' earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 28.6%. Shares of the company have declined 57.8% in the past year.
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Science Applications (SAIC) Gets $349M U.S. Navy TACNET Deal
Science Applications (SAIC - Free Report) recently received a $349 million contract from the U.S. Navy to provide support for the Afloat and Ashore Tactical Networks (TACNET). Under the five-year contract, the company will continue to deliver In-Service Engineering Agent functions to the Naval Information Warfare Center Pacific.
SAIC will provide management, engineering, technical, integrated logistics, configuration management and life cycle support for afloat and ashore TACNET and command, control, communications, computers and intelligence systems in San Diego, CA.
SAIC's expertise in network engineering, modernization, sustainment and logistics solutions will aid the U.S. Navy to transmit and receive information with improved combat readiness and continue to upgrade its IT infrastructure goals.
Science Applications is currently focusing on the federal government marketplace and capturing more market share. It intends to drive operational excellence by intensively focusing on its organic and inorganic growth strategy and strengthening existing customer relationships while building newer ones. Increased federal spending is anticipated to accelerate the pace of contract awards, which, in turn, will be beneficial for SAIC’s top-line growth.
Science Applications International Corporation Price and Consensus
Science Applications International Corporation price-consensus-chart | Science Applications International Corporation Quote
Recently, in January, United States Transportation Command (“USTRANSCOM”) selected SAIC to modernize the organization’s IT management systems. Under the contract, the company will also be responsible for infusing the latest innovations into USTRANSCOM’s enterprise IT and introducing IT-as-a-service models.
In December 2022, SAIC secured a blanket purchase agreement from the Transportation Security Administration (TSA) to continue performing the operational testing and evaluation of TSA airport screening equipment and non-screening systems. The contract has an estimated value of $150 million.
In November 2022, SAIC secured a single-award contract worth $757 million from the U.S. Army Enterprise Service Desk to provide software development and management services. In September 2022, it won the Systems and Software Assurance Services 2 contract worth $170 million from the National Aeronautics and Space Administration.
In the third quarter of fiscal 2023, SAIC revenues rose 1% year over year to $1.91 billion. The increase was primarily driven by the ramp-up of new and existing contracts, partially offset by contract completions and lower accelerated amortization on certain off-market liability contracts.
The Zacks Consensus Estimate for Science Applications’ fourth-quarter fiscal 2023 revenues is pegged at $1.85 billion compared with the year-ago quarter’s $1.78 billion.
Zacks Rank & Stocks to Consider
SAIC currently carries a Zacks Rank #3 (Hold). Shares of SAIC jumped 19% in the past year.
Some top-ranked stocks from the broader Computer and Technology sector are Bandwidth (BAND - Free Report) , Clearfield (CLFD - Free Report) and Zscaler (ZS - Free Report) . While Bandwidth and Clearfield sport a Zacks Rank #1 (Strong Buy), Zscaler carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Bandwidth’s fourth-quarter 2022 earnings has been revised by a penny to 4 cents per share over the past 60 days. For 2022, earnings estimates have moved north by 25 cents to 37 cents per share in the past 30 days.
BAND's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 301.8%. Shares of the company have declined 65.3% in the past year.
The Zacks Consensus Estimate for Clearfield's first-quarter fiscal 2023 earnings has been revised 15 cents northward to $1.02 per share over the past 60 days. For fiscal 2023, earnings estimates have improved by 37.5% to $4.95 per share over the past 60 days.
CLFD’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 39.7%. Shares of the company have risen 20.6% in the past year.
The Zacks Consensus Estimate for Zscaler's first-quarter fiscal 2023 earnings has been revised 3 cents north to 29 cents per share over the past 30 days. For fiscal 2023, earnings estimates have moved north by 6 cents to $1.23 per share in the past 30 days.
ZS' earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 28.6%. Shares of the company have declined 57.8% in the past year.