Science Applications International CorporationSAIC , a leading technology integrator, recently secured a contract worth $70 million from the Federal Aviation Administration (FAA) to provide varied professional services to the Office of Aviation Safety.
Per the contract, SAIC will provide program management and technical expertise in aviation, technical engineering, flight safety and safety management systems and similar such professional services that are likely to enhance aviation safety. SAIC's deep history and skill in technology, networking and integration make it uniquely positioned to support aviation users. The company will help to develop, review, and implement operational procedures and regulatory and safety policies for air traffic services. The Office of Aviation Safety is responsible for certification, production approval, and continued airworthiness of aircraft and certification of pilots and others in safety-related measures. This contract will further help it to shoulder its responsibility more effectively.
Moving forward, SAIC's revenues are expected to benefit from the current contract. The company has a huge pipeline of new projects and continues to win deals at regular intervals. These contracts are key growth catalysts for the company.
SAIC provides technical, engineering and enterprise IT services in the U.S., with its government segment serving the U.S. federal, state and local government agencies as well as foreign governments. Since its inception in 1969, SAIC has utilized its domain knowledge to solve critically important problems of the country in areas such as national security, energy and the environment, critical infrastructure, and health.
SAIC currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth considering now include CyberArk Software, Ltd. CYBR , Rightside Group, Ltd NAME and ServiceNow, Inc. NOW , all of which carry a Zacks Rank #2 (Buy).