National Security Contracts Secured By SAIC Top $284M In Early 2024; Co Will Recognize $160M Of Total Awards In Fiscal Year 2025
Portfolio Pulse from Benzinga Newsdesk
Science Applications International Corp. (SAIC) has secured $284 million in contracts from the U.S. intelligence community in early 2024, with $160 million to be recognized in Fiscal Year 2025. The awards include two contracts over $100 million and a task order under a single-award contract, covering data, AI, and engineering. This follows the formation of a new business group combining intelligence and space work, enhancing collaboration and expanding SAIC's mission capabilities.
March 14, 2024 | 12:20 pm
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SAIC announced receiving $284 million in contracts from the U.S. intelligence community, with $160 million recognized in FY2025, covering data, AI, and engineering services.
The announcement of $284 million in contracts from the U.S. intelligence community is a significant positive development for SAIC, indicating strong demand for its services and potential revenue growth. Recognizing $160 million in FY2025 will likely have a positive impact on the company's financial performance, enhancing investor confidence. The focus on data, AI, and engineering aligns with growing market demands, positioning SAIC favorably in the defense and intelligence sectors.
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