ManTech Wins Multi-Million Dollar Contract From U.S. DoD

ManTech International Corporation (NASDAQ:MANT) was recently awarded a prestigious contract by the U.S. Department of Defense (DoD). The ‘cost-plus-fixed-fee’ task order is initially for one year and, based on ManTech’s performance and the department’s requirements, it may be extended for another year. The total value of the contract is expected to be $44.2 million.

Per the contract, ManTech is expected to provide operational and user maintenance (O&uM) and software maintenance support to the Product Manager Joint Personnel Identification (JPI) Quick Reaction Capabilities Sustainment (QRC).

ManTech will offer its technical expertise in providing adequate O&uM and software maintenance functions required on a daily basis by warfighters. The QRCs require both hardware (devices) and software that are used for biometrics collection, storage, matching, and analysis in an advance operating environment.

Earlier this year, ManTech was awarded two major contracts, one by the Combating Terrorism Technical Support Office (CTTSO) and the other by the U.S. Navy. The CTTSO contract is potentially worth $71 million whereas the U.S. Navy contract is worth $47 million. Both these contracts are of great importance for the company. ManTech is expected to provide engineering and technical support services for submarine and surface ship acoustical trials for the U.S. Navy, while providing advisory and systems engineering and technical assistance to CTTSO.

Since the beginning of the year, ManTech has secured a streak of such defense contracts, which are likely to boost revenues and enhance its position in the market.

Based in Fairfax, VA, ManTech provides technical support to critical national security programs for approximately 50 federal agencies, through approximately 1,000 contracts. ManTech delivers a broad array of information technology and technical services solutions to the U.S. federal government customers, focusing primarily on critical national defense programs for the intelligence community and Department of Defense. The company designs, develops, procures, implements, operates, tests and maintains mission-critical, enterprise information technology and communication systems and infrastructure for federal government customers in the U.S. and worldwide.

ManTech carries a Zacks Rank #2 (Buy). Some better-ranked stocks worth considering include CGI Group Inc. (NYSE:GIB) , Carbonite, Inc. (NASDAQ:CARB) and Ebix Inc. (NASDAQ:EBIX) . All three sport a Zacks Rank #1 (Strong Buy).