SAIC Awarded the DLA Fleet Readiness Centers Industrial Product Support Vendor Contract

Company to provide the U.S. Navy's Fleet Readiness Centers with supply chain management and logistics support for weapon systems repair and overhaul operations

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Oct 06, 2014, 07:50 ET

MCLEAN, Va., Oct. 6, 2014 /PRNewswire/ -- The Defense Logistics Agency (DLA) awarded Science Applications International Corp. (NYSE: SAIC) the Fleet Readiness Centers Industrial Product Support Vendor (FRC IPV) contract to provide the U.S. Navy's Fleet Readiness Centers (FRCs) with supply chain management and logistics support of pre-expended bin products and services. The single-award, indefinite delivery/indefinite quantity (IDIQ) contract has a three-year base period, two two-year options, one three-year option, and a total potential value of $240 million. Work will be performed primarily in California, Florida and North Carolina.

The U.S. Navy's FRCs provides naval aviation maintenance, repair and overhaul capabilities and services. They produce quality airframes, engines, components and support equipment, and provide services that meet the Naval Aviation Enterprise's aircraft ready-for-tasking goals with improved effectiveness and efficiency.

Under the contract, SAIC will reduce time and cost required by the U.S. Navy to accomplish their maintenance, overhaul and repair of weapons systems and related missions; reduce inventory investment by the government; and maintain a fill-rate of 99 percent for all items of supply covered by the stock replenishment provisions.

"SAIC is proud to continue supporting DLA and the Navy's FRCs by providing cost-effective supply chain management and logistics services," said Mark Escobar, senior vice president and general manager of Department of Defense Agencies and Commands. "We have been the contractor of choice for FRC IPV since 2004, and we look forward to working closely with DLA and the FRCs over the next ten years."

About SAIC

SAIC is a leading technology integrator providing full life-cycle services and solutions in the technical, engineering, and enterprise information technology markets. SAIC's deep domain knowledge and customer relationships enable the delivery of systems engineering and integration offerings for large, complex government and commercial projects. SAIC's approximately 13,000 employees serve customers in the U.S. federal government, state/local, and global commercial markets, specializing in providing a broad range of higher-end, differentiated technical capabilities. Headquartered in McLean, Va., SAIC has annual revenues of about $4 billion. For more information, visit www.saic.com. For ongoing news, please visit our newsroom.

Certain statements in this announcement constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and a number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report or Form 10-K other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.

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