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LONDON, UK / ACCESSWIRE / February 22, 2017 / Active Wall St. blog coverage looks at the headline from Science Applications International Corp. (NYSE: SAIC) as the Company unveiled its first Amphibious Combat Vehicle (ACV) 1.1 prototype to the US Marine Corps at a ceremony held at the Company's integration facility located in Charleston, South Carolina on February 21, 2017. The vehicle is the first of the batch of 16 to be delivered for testing by the Marine Corps, where the delivery is scheduled to begin in March, under the initial contract of $121.5 million awarded on November 14, 2015. Register with us now for your free membership and blog access at:
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One of Science Applications International's competitors within the Information Technology Services space, Accenture PLC (NYSE: ACN), is estimated to report earnings on March 23, 2017. AWS will be initiating a research report on Accenture following the release of its next earnings results.
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The ACV contract
US Marine Corps awarded contracts to both McLean-based SAIC and Bae Systems Inc., to design prototypes for its next-gen amphibious combat vehicles. The award was made for the so-called Amphibious Combat Vehicle Phase 1, Increment 1-ACV 1.1, where the Marines will test and procure each vehicle before moving on to ACV1.2 phase. The aging fleets of Amphibious Assault Vehicles (AAVs) have been in operation since the 70's and the Marines expect to address some of the issues faced by the vehicles. Initially, the Expeditionary Fighting Vehicle (EFV) program was commissioned but cancelled later in January 2011.
The existing AAVs were fielded in 80's and were fine vehicles for certain applications, but acted as a deadlock against road mines, and were not impressive in particular for mine protection. The two Companies beat a crowded field of competitors including Bethesda-based Lockheed Martin Corp. (NYSE: LMT), Michigan-based Advanced Defense Vehicle Systems Corp. And Falls Church-based General Dynamics Corp. (NYSE: GD).
The Prototypes
BAE Systems was awarded a contract worth $103.8 million, where it delivered the first four of the 16 amphibious combat vehicle 1.1 on February 16, 2017, for testing. BAE partnered with Italian Company IVECO Defence Vehicles to build the ACV batch, which features a 700 horsepower engine offering it an edge over the predecessor, i.e., AAV.
SAIC delivered the first of its lot on February 21, 2017, which features a remotely operated .50-caliber machine gun turret, mounted cameras on the vehicle to offer 360-degree visibility, and a ‘V-over-V' hull design to ensure blast protection for the Marines inside the vehicles. SAIC partnered with the Singaporean Company ST Kinetics to develop the ACV 1.1, where it based the design on the eight-wheeled Terrex vehicle, used by the Singapore Armed Forces and developed by ST Kinetics.
In addition to IED-proof design, the SAIC prototype can swim through four-foot waves and six-foot plunging surf, according to Bernie Ellis, program manager for the vehicle. SAIC's ACV is an eight-wheeled, armored amphibious vehicle, designed to offer improved survivability, mobility, lethality, and C4ISR capability tailored to transport Marine Corps fighting units from ship to shore. The design from SAIC comes with 600 horsepower engine to deliver outstanding mobility while offering excellent fuel economy.
SAIC Growth Prospects
SAIC is among the major players in the segment with a proven track record for more than 10 years where it has been modifying and upgrading armored vehicles for the Department of Defense, ensuring advanced protection during combat and also securing command and control and repair capabilities. On December 20, 2016, SAIC and root9B partnered to offer advanced cybersecurity simulation and training to government clients. Prior to this agreement, on December 15, 2016, SAIC was awarded a potential $84 million contract by Space and Naval Warfare Systems Center (SSC) Pacific to deliver network service solutions and engineering support to the US Navy and joint Department of Defense shore units across the world.
Stock Performance
On Tuesday, February 21, 2017, the stock closed the trading session at $88.39, slightly rising 0.87% from its previous closing price of $87.63. A total volume of 218.83 thousand shares have exchanged hands. Science Applications' stock price surged 12.22% in the last three months, 43.94% in the past six months, and 103.34% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 4.61%. The stock is trading at a PE ratio of 29.17 and has a dividend yield of 1.40%. The net market capital for the Company was $3.90 billion as per Tuesday's closing price.
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