Navy's $102M Vote Of Confidence: SAIC Awarded Pivotal Contract For Heavyweight Torpedo Initiative

Science Applications International Corp SAIC has secured a $102.5 million contract from the U.S. Navy. The award is to support the MK 48 Mod 7 Heavyweight Torpedo program.
It is a firm-fixed-price and cost-plus-fixed fee modification to a previously awarded $1.1 billion torpedo production contract.
SAIC will produce, assemble, test and deliver the U.S. Navy's MK 48 Mod 7 Torpedo Afterbody Tailcones (AB/TC) and MK29 Mod 0 Warshot Fuel Tanks to the U.S. Navy and foreign partners.
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SAIC’s portfolio spans space, civilian and intelligence markets and includes secure high-end solutions in engineering, digital, artificial intelligence and mission solutions.
Related: SAIC Registers 10% Topline Growth In Q4 Aided By Ramp-Up On Contracts
Price Action: SAIC shares traded higher by 1.21% at $109.16 on the last check Monday.