SAIC Awarded USMC Contract to Support Assault Amphibious Vehicle Upgrades

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May 27, 2014, 08:40 ET

MCLEAN, Va., May 27, 2014 /PRNewswire/ -- The United States Marine Corps (USMC) Program Executive Office – Land Systems (PEO-LS) awarded Science Applications International Corporation (NYSE: SAIC) a prime contract to engineer, design and test upgrades to 10 prototype and 52 LRIP vehicles for the Legacy Assault Amphibious Vehicle (AAV) Personnel Carrier Variant Platform program. The multiple-award, firm fixed-price contract has a 10-month period of performance and an initial contract value of $16 million to execute preliminary and critical design reviews. Additional options for prototype vehicle build and testing followed by low rate initial production may be exercised, resulting in a total contract value of more than $192 million over five years. Work will be performed primarily in Charleston, S.C.

Ship-to-Objective Maneuver is a transformational tactical application of enduring USMC capabilities for Operational Maneuver from the Sea executed by the AAV platform. From ship to shore to objective, the AAV is designed to assault any shoreline from the well decks of Navy assault ships. AAVs are highly mobile, tracked armored amphibious vehicles that transport Marines and cargo to and through hostile territory.

Under the contract, SAIC will update the AAV to provide improved protection while gaining back land and water mobility that improves the AAV's ability to fight.

"SAIC's approach builds upon its successful support to similar vehicles, such as the AAVC7 and Mine-Resistant Ambush Protected class of combat vehicles," said Tom Watson, senior vice president and general manager of the Navy and Marine Corps Customer Group. "SAIC's past performance demonstrates its ability to adhere to schedule, improve existing vehicles from assembly to integration and test, and still reduce risk and cost."

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 on 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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