SAIC Snags 2 Defense Contracts
The Department of Defense issued 10 new contracts on Wednesday worth roughly $227 million in total. Science Applications International Corp., better known as SAIC , was one of the bigger winners, claiming two contracts on the day.
The larger of the two, an indefinite-delivery/indefinite-quantity contract for $49.4 million, hires SAIC to build the Navy a "future radiographic systems" -- a portable system that will give the military "real-time downrange imaging capability" to help explosive ordnance disposal technicians analyze and identify unexploded ordnance (such as roadside bombs) before beginning work disarming them. SAIC is expected to complete work on this contract by August 2014.
SAIC's smaller contract, worth only $7.9 million, is a firm-fixed-price contract to work on the Systems Engineering and Integration (SE&I) Bridge 3.0 project, which provides for SE&I support services to the U.S. Air Force's Global Positioning Systems Directorate. SAIC will be working on this project through March 6, 2014.
The article SAIC Snags 2 Defense Contracts originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.