SAIC Wins $70M Navy Task Order for Radar Engineering and Technical Support
SAIC sits 44% above its 52-week low of $81.08.
Summary
SAIC secured a new $70 million cost-plus-fixed-fee task order from the U.S. Navy to provide advanced radar engineering and technical support services. The work spans full lifecycle development and sustainment for radar, RF, and microwave systems across surface, air, and maritime domains. This award builds on SAIC's established role as a radar center of excellence and follows a $50.6 million Navy torpedo defense task order in early June, reinforcing the company's steady flow of defense contract wins. The contract includes a one-year base period with four one-year options, extending potential duration to five years. While the dollar amount is modest relative to SAIC's $7.3 billion annual revenue, the win demonstrates continued momentum in its core defense services business.
At the time of this announcement, SAIC was trading at $116.76 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $4.9B. The 52-week trading range was $81.08 to $123.41. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.