Technical services provider
) recently procured a contract worth $228 million from Sandia
National Laboratories to provide information technology (IT)
services to the Department of Energy (DoE). Sandia National
Laboratories is operated and managed by Sandia Corporation, a
wholly-owned subsidiary of
Lockheed Martin Corporation
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The indefinite-delivery/indefinite-quantity (IDIQ) contract
entails SAIC, Inc. to provide mission-specific IT research,
development, and back-up support while maintaining high-quality
performance and central hosting computing, desktop services and
cybersecurity. SAIC, Inc. has a long-standing relationship with
Sandia, and the current contract further builds on this business
SAIC, Inc. expects to leverage its experience in managing big
data for the U.S. Government to provide the requisite support for
Sandia by delivering science and critical technology support to
solve national security issues. The company will offer its
services at Sandia's headquarters in Albuquerque, New Mexico, or
at its second principal laboratory in Livermore, CA.
Since its inception in 1969, SAIC, Inc. has utilized its deep
domain knowledge to solve critically important problems of the
country in areas such as national security, energy and the
environment, critical infrastructure, and health. Headquartered
in McLean, VA, the company presently has employee strength of
approximately 40,000, serving customers in the U.S. Department of
Defense, the intelligence community, the U.S. Department of
Homeland Security, other U.S. Government civil agencies and
selected commercial markets.
SAIC, Inc. registered annual revenues of approximately $11.2
billion for the fiscal year ended Jan 31, 2013, representing 5.7%
year-over-year growth. With continuous inflow of contracts from
various government institutions, the company expects to have a
steady revenue stream in the future as well. The current Zacks
Consensus Estimate for the first quarter and fiscal year are
pegged at 30 cents and $1.25, respectively.
Other players in the industry worth mentioning include
Corrections Corporation of America
Engility Holdings, Inc.
), each carrying a Zacks Rank #1 (Strong Buy). SAIC, Inc.
currently has a Zacks Rank #4 (Sell).