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Science Applications (SAIC) Secures Navy Contract Worth $163M
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Science Applications (SAIC - Free Report) recently secured a $163-million contract from the U.S. Navy. Per the deal, the company will support the designing, development, integration, modernization, sustainment and life cycle support of shore networks, network components and network service solutions for the Naval Information Warfare Center Pacific Shore Networks Branch in San Diego, CA.
Science Applications revealed that the contract requires it to maintain Naval Enterprise Networks for all shore-based U.S. Navy commands and personnel critical to the Navy’s day-to-day operations. Additionally, the company will also support the command and control of U.S. Navy units deployed by operational commanders.
Science Applications is benefiting from the continued flow of high-value contracts. The record level of awards reflects its disciplined business-development actions, consistent operational excellence and high customer satisfaction. As of Apr 29, 2021, the company’s total contract backlog was $24.1 billion.
Science Applications is focused on the federal government marketplace and capturing more market share. The government as a big client lends stability to the business and moderates fluctuation in revenues.
Science Applications International Corporation Price and Consensus
Science Applications intends to drive operational excellence by intensively focusing on its organic and inorganic growth strategy and strengthening existing customer relations while building newer ones. Higher spending, as proposed in the latest federal government budget, is anticipated to accelerate the pace of contract awards, which, in turn, will be beneficial for SAIC’s top-line growth.
During the first quarter of fiscal 2023, Science Applications reported revenues of $2 billion, witnessing a 6% surge from the year-ago quarter. This was mainly driven by contributions from the newly acquired Halfaker business and the ramp-up of new and existing contracts.
The Zacks Consensus Estimate for SAIC’s second-quarter fiscal 2023 revenues is pegged at $1.82 billion, suggesting a year-over-year fall of 0.83%.
Zacks Rank & Stocks to Consider
Science Applications currently carries a Zacks Rank #3 (Hold). Shares of SAIC have soared 11.7% year to date (“YTD”).
The Zacks Consensus Estimate for Clearfield's fourth-quarter fiscal 2022 earnings has been revised upward by 10 cents to 80 cents per share over the past 30 days. For fiscal 2022, earnings estimates have moved 36 cents north to $3.13 per share in the past 30 days.
Clearfield’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 33.9%. Shares of CLFD have soared 49.9% YTD.
The Zacks Consensus Estimate for Silicon Laboratories’ third-quarter 2022 earnings has increased 22.9% to $1.02 per share over the past 30 days. For 2022, earnings estimates have moved 14.2% up to $4.18 per share in the past 30 days.
Silicon Laboratories’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 63.6%. Shares of SLAB have decreased 33.4% YTD.
The Zacks Consensus Estimate for Taiwan Semiconductor's third-quarter 2022 earnings has been revised a penny southward to $1.69 per share over the past 30 days. For 2022, earnings estimates have moved 37 cents north to $6.30 per share in the past 60 days.
TSM's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 3.9%. Shares of the company have decreased 27.3% YTD.
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Science Applications (SAIC) Secures Navy Contract Worth $163M
Science Applications (SAIC - Free Report) recently secured a $163-million contract from the U.S. Navy. Per the deal, the company will support the designing, development, integration, modernization, sustainment and life cycle support of shore networks, network components and network service solutions for the Naval Information Warfare Center Pacific Shore Networks Branch in San Diego, CA.
Science Applications revealed that the contract requires it to maintain Naval Enterprise Networks for all shore-based U.S. Navy commands and personnel critical to the Navy’s day-to-day operations. Additionally, the company will also support the command and control of U.S. Navy units deployed by operational commanders.
Science Applications is benefiting from the continued flow of high-value contracts. The record level of awards reflects its disciplined business-development actions, consistent operational excellence and high customer satisfaction. As of Apr 29, 2021, the company’s total contract backlog was $24.1 billion.
Science Applications is focused on the federal government marketplace and capturing more market share. The government as a big client lends stability to the business and moderates fluctuation in revenues.
Science Applications International Corporation Price and Consensus
Science Applications International Corporation price-consensus-chart | Science Applications International Corporation Quote
Science Applications intends to drive operational excellence by intensively focusing on its organic and inorganic growth strategy and strengthening existing customer relations while building newer ones. Higher spending, as proposed in the latest federal government budget, is anticipated to accelerate the pace of contract awards, which, in turn, will be beneficial for SAIC’s top-line growth.
During the first quarter of fiscal 2023, Science Applications reported revenues of $2 billion, witnessing a 6% surge from the year-ago quarter. This was mainly driven by contributions from the newly acquired Halfaker business and the ramp-up of new and existing contracts.
The Zacks Consensus Estimate for SAIC’s second-quarter fiscal 2023 revenues is pegged at $1.82 billion, suggesting a year-over-year fall of 0.83%.
Zacks Rank & Stocks to Consider
Science Applications currently carries a Zacks Rank #3 (Hold). Shares of SAIC have soared 11.7% year to date (“YTD”).
Some better-ranked stocks from the broader Computer and Technology sector are Clearfield (CLFD - Free Report) , Silicon Laboratories (SLAB - Free Report) and Taiwan Semiconductor (TSM - Free Report) . While Clearfield and Silicon Laboratories each sport a Zacks Rank #1 (Strong Buy), TSM carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Clearfield's fourth-quarter fiscal 2022 earnings has been revised upward by 10 cents to 80 cents per share over the past 30 days. For fiscal 2022, earnings estimates have moved 36 cents north to $3.13 per share in the past 30 days.
Clearfield’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 33.9%. Shares of CLFD have soared 49.9% YTD.
The Zacks Consensus Estimate for Silicon Laboratories’ third-quarter 2022 earnings has increased 22.9% to $1.02 per share over the past 30 days. For 2022, earnings estimates have moved 14.2% up to $4.18 per share in the past 30 days.
Silicon Laboratories’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 63.6%. Shares of SLAB have decreased 33.4% YTD.
The Zacks Consensus Estimate for Taiwan Semiconductor's third-quarter 2022 earnings has been revised a penny southward to $1.69 per share over the past 30 days. For 2022, earnings estimates have moved 37 cents north to $6.30 per share in the past 60 days.
TSM's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 3.9%. Shares of the company have decreased 27.3% YTD.