{"id":746193,"date":"2023-04-10T08:08:12","date_gmt":"2023-04-10T12:08:12","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/saic-awarded-102m-contract-to-support-u-s-navy-torpedo-production\/"},"modified":"2023-04-10T08:08:12","modified_gmt":"2023-04-10T12:08:12","slug":"saic-awarded-102m-contract-to-support-u-s-navy-torpedo-production","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/saic-awarded-102m-contract-to-support-u-s-navy-torpedo-production\/","title":{"rendered":"SAIC Awarded $102M Contract to Support U.S. Navy Torpedo Production"},"content":{"rendered":"

<\/p>\n

SAIC Awarded $102M Contract to Support U.S. Navy Torpedo Production<\/b><\/p>\n

Contract expands support of MK 48 production<\/i><\/p>\n

RESTON, Va.–(BUSINESS WIRE<\/a>)–
\nScience Applications International Corp. (NYSE: SAIC<\/a>) has been awarded a $102.5 million contract by the U.S. Navy to continue supporting the MK 48 Mod 7 Heavyweight Torpedo program. This is a firm-fixed-price and cost-plus-fixed fee modification to a previously awarded $1.1 billion torpedo production contract<\/a>.<\/p>\n

\n\u201cSAIC has a long history of supporting the U.S. Navy, notably our work providing the dominant undersea weapons it requires,\u201d said Bob Genter, president of Defense and Civilian Sector at SAIC. \u201cWe are honored by the Navy\u2019s confidence in SAIC, and proud to expand our support of the MK 48 program.\u201d<\/p>\n

\nUnder the new contract option, SAIC will produce, assemble, test and deliver the U.S. Navy\u2019s MK 48 Mod 7 Torpedo Afterbody Tailcones (AB\/TC) and MK29 Mod 0 Warshot Fuel Tanks to the U.S. Navy and foreign partners through implemented Foreign Military Sales (FMS) programs.<\/p>\n

\nCurrently, SAIC also provides all necessary facilities, resources and management to meet the contract\u2019s integration, production, test and delivery requirements.<\/p>\n

\nTo learn more about SAIC\u2019s work with the Department of Defense, visit www.saic.com\/defense<\/a>.<\/p>\n

About SAIC<\/b><\/p>\n

\nSAIC\u00ae is a premier Fortune 500\u00ae technology integrator driving our nation\u2019s technology transformation. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in engineering, digital, artificial intelligence and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective and efficient solutions that are critical to achieving our customers’ missions.<\/p>\n

\nWe are approximately 25,000 strong; driven by mission, united by purpose, and inspired by opportunities. SAIC is an Equal Opportunity Employer, fostering a culture of diversity, equity and inclusion , which is core to our values and important to attract and retain exceptional talent. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.7 billion. For more information, visit saic.com<\/a>. For ongoing news, please visit our newsroom<\/a>.<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\nCertain statements in this release contain or are based on \u201cforward-looking\u201d information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as \u201cexpects,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201canticipates,\u201d \u201cbelieves,\u201d \u201cestimates,\u201d \u201cguidance,\u201d and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the \u201cRisk Factors,\u201d \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d and \u201cLegal Proceedings\u201d sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.com<\/a>or on the SEC\u2019s website at sec.gov<\/a>. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC\u2019s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230410005015\/en\/<\/a><\/span><\/p>\n

Thais Hanson
\n<\/b>
703.676.8215 | publicrelations@saic.com<\/a><\/p>\n

KEYWORDS:<\/b> District of Columbia Virginia United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Technology Engineering Manufacturing Military Maritime Artificial Intelligence Defense Transport Other Defense Software Contracts Data Management Security Government Technology<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
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\"Logo\"<\/td>\n<\/tr>\n
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SAIC Awarded $102M Contract to Support U.S. Navy Torpedo Production Contract expands support of MK 48 production RESTON, Va.–(BUSINESS WIRE)– Science Applications International Corp. (NYSE: SAIC) has been awarded a $102.5 million contract by the U.S. Navy to continue supporting the MK 48 Mod 7 Heavyweight Torpedo program. This is a firm-fixed-price and cost-plus-fixed fee modification to a previously awarded $1.1 billion torpedo production contract. \u201cSAIC has a long history of supporting the U.S. Navy, notably our work providing the dominant undersea weapons it requires,\u201d said Bob Genter, president of Defense and Civilian Sector at SAIC. \u201cWe are honored by the Navy\u2019s confidence in SAIC, and proud to expand our support of the MK 48 program.\u201d Under the new contract … <\/p>\n

Continue reading “SAIC Awarded $102M Contract to Support U.S. Navy Torpedo Production”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-746193","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSAIC Awarded $102M Contract to Support U.S. Navy Torpedo Production - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/saic-awarded-102m-contract-to-support-u-s-navy-torpedo-production\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SAIC Awarded $102M Contract to Support U.S. Navy Torpedo Production - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SAIC Awarded $102M Contract to Support U.S. Navy Torpedo Production Contract expands support of MK 48 production RESTON, Va.–(BUSINESS WIRE)– Science Applications International Corp. 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This is a firm-fixed-price and cost-plus-fixed fee modification to a previously awarded $1.1 billion torpedo production contract. \u201cSAIC has a long history of supporting the U.S. Navy, notably our work providing the dominant undersea weapons it requires,\u201d said Bob Genter, president of Defense and Civilian Sector at SAIC. \u201cWe are honored by the Navy\u2019s confidence in SAIC, and proud to expand our support of the MK 48 program.\u201d Under the new contract … Continue reading "SAIC Awarded $102M Contract to Support U.S. Navy Torpedo Production"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/saic-awarded-102m-contract-to-support-u-s-navy-torpedo-production\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-10T12:08:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230410005015r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saic-awarded-102m-contract-to-support-u-s-navy-torpedo-production\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saic-awarded-102m-contract-to-support-u-s-navy-torpedo-production\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"SAIC Awarded $102M Contract to Support U.S. Navy Torpedo Production\",\"datePublished\":\"2023-04-10T12:08:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saic-awarded-102m-contract-to-support-u-s-navy-torpedo-production\\\/\"},\"wordCount\":694,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saic-awarded-102m-contract-to-support-u-s-navy-torpedo-production\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20230410005015r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saic-awarded-102m-contract-to-support-u-s-navy-torpedo-production\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/saic-awarded-102m-contract-to-support-u-s-navy-torpedo-production\\\/\",\"name\":\"SAIC Awarded $102M Contract to Support U.S. Navy Torpedo Production - 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