Science Applications International Corporation (SAIC), a leading technology integrator, won the Fleet Readiness Centers Industrial Product Support Vendor (FRC IPV) contract from the Defense Logistics Agency ("DLA").
The single-award contract has an indefinite-delivery/indefinite-quantity (ID/IQ) clause, with a 3-year base period, two 2-year options and one 3-year option. The contract has a total potential value of over $240 million. Work will be conducted primarily in Florida, California and North Carolina.
Per the contract, Science Applications will provide supply chain management and logistics support for weapon systems repair and overhaul operations to the U.S. Navy's Fleet Readiness Centers (FRCs).
U.S. Navy’s FRCs provide naval aviation maintenance, repair and overhaul services. Under the contract, Science Applications will streamline costs, improve time management, reduce inventory investment by the government and efficiently manage stock replenishment for the U.S. Navy.
Science Applications has been a contractor for FRC IPV since 2004. The company also won an ID/IQ contract worth $190 million by the DLA recently. Under the contract, the company will provide the U.S. Navy with industrial hardware used in the maintenance, repair and overhaul of aviation equipment.
Science Applications provides technical, engineering and enterprise IT services in the U.S., with its government segment serving the U.S. federal, state and local government agencies as well as foreign governments.
The company is focused on harnessing its rich domain knowledge and client relationships to facilitate the delivery of systems engineering and integration services for comprehensive government and commercial projects. A leading pure-play technical service provider to the U.S. government, Science Applications is the chief contractor on 91% of premier federal contract vehicles.
Science Applications currently holds a Zacks Rank #3 (Hold). Some better-ranked stocks in the information technology services industry include Luxoft Holding, Inc. (LXFT), GTT Communications, Inc. (GTT) and Fair Isaac Corp. (FICO). While Luxoft and GTT hold a Zacks Rank #1 (Strong Buy), Fair Isaac carries a Zacks Rank #2 (Buy).
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