RESTON, Va. – Science Applications (NASDAQ:SAIC) International Corp. (NYSE: SAIC) has secured a substantial $444 million contract to support the U.S. Space Force in enhancing spaceport operations, as announced recently. The contract focuses on Digital Transformation, Acquisition, Modernization, and Modification (DTAMM) for the Space Systems Command and Space Launch Deltas (SLDs) 30 and 45.
The initiative aims to accelerate the national launch cadence at the Eastern Range (ER) and Western Range (WR), which includes Cape Canaveral Space Force Station and Patrick Space Force Base in Florida, as well as Vandenberg Space Force Base in California. SAIC's role will be to modernize space launch range instrumentation and processes, which is expected to result in a faster and more integrated launch environment.
David Ray, executive vice president of SAIC's Space and Intelligence Business Group, highlighted the company's commitment to advancing space exploration and ensuring crew safety. He emphasized the importance of efficient spaceports to the United States' space efforts.
SAIC's involvement extends beyond DTAMM. The company is also engaged in projects that contribute to the nation's space exploration goals, such as supporting unmanned spacecraft, earth science data-collecting satellites, and space-ground systems for military joint all-domain command and control.
SAIC's headquarters are in Reston, Virginia, and it reports annual revenues of about $6.9 billion. The company's work spans across defense, space, civilian, and intelligence markets.
The information disclosed in this article is based on a press release statement.
InvestingPro Insights
Amidst the significant contract win for Science Applications International Corp. (NYSE: SAIC) with the U.S. Space Force, the company's financial health and stock performance offer additional context to investors considering the firm's prospects. With a market capitalization of $7.37 billion and a trailing twelve-month revenue of $7.675 billion, SAIC demonstrates a stable financial size within the industry.
Investors may find SAIC's stock appealing due to its low price volatility and a P/E ratio of 14.86, which indicates a reasonable valuation given its near-term earnings growth. This is further substantiated by SAIC's PEG ratio for the last twelve months as of Q3 2024, which stands at an attractive 0.15, suggesting potential for earnings growth relative to its share price.
An InvestingPro Tip worth noting is that SAIC has a perfect Piotroski Score of 9, reflecting strong financial health. Moreover, management's aggressive share buyback strategy signals confidence in the company's value, aligning with the interests of shareholders. For those interested in dividend reliability, SAIC has maintained dividend payments for 12 consecutive years, providing a steady income stream to its investors.
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