RESTON, Va.--(BUSINESS WIRE)--
The U.S. Marine Corps Program Executive Officer Land Systems (PEO LS) approved the Assault Amphibious Vehicle (AAV) Survivability Upgrade (SU) program to enter into the Production and Deployment Phase following a Milestone C decision. As a part of the decision Science Applications International Corp. (NYSE: SAIC) was awarded an initial Low Rate Initial Production (LRIP) option to provide the Marine Corps additional AAV SU vehicles. As part of the LRIP decision, SAIC will deliver a total of 25 vehicles over a two-year period for operational test and evaluation and initial fielding to USMC expeditionary units.
“SAIC is pleased to be moving into the LRIP phase for the AAV SU program and to begin delivering these important survivability and mobility enhancements out into the fleet and into the hands of our Marines,” said Tom Watson, SAIC senior vice president and general manager of the Navy and Marine Corps Customer Group.
These vehicles are in addition to 10 AAV SUs prototypes that were delivered during the engineering and manufacturing development (EMD) phase. During the EMD phase, SAIC’s AAV SUs completed rigorous development testing required by the USMC.
Under the contract, SAIC is required to upgrade personnel-variant (P7) vehicles and command and control-variant (C7) vehicles as part of an engineering design effort. SAIC received orders for 22 AAV SU P7 variant vehicles and three C7 variant vehicles. The LRIP phase is valued at approximately $145 million, if all options are exercised.
About SAIC
SAIC is a premier technology integrator providing full life cycle services and solutions in the technical, engineering, intelligence, and enterprise information technology markets. SAIC is Redefining Ingenuity through its deep customer and domain knowledge to enable the delivery of systems engineering and integration offerings for large, complex projects. SAIC’s more than 15,000 employees are driven by integrity and mission focus to serve customers in the U.S. federal government. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $4.5 billion. For more information, visit 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 and other such filings that SAIC makes with the SEC from time to time, which may be viewed or obtained through the Investor Relations section of our web site at www.saic.com. 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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