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Hedge Funds Bailing on Expensive Tech at a Breakneck Clip

American City Business Journals

SAIC snags $1.1B torpedo contract with U.S., international buyers

Science Applications International Corp. (NYSE: SAIC) inked a potential $1.1 billion contract Tuesday to provide Mark 48 torpedo components and support to the Navy, as well as allies Taiwan and Australia. The Reston technology contractor manufactures the afterbody and tailcone sections of the MK48 Modification 7 heavyweight torpedo, which entails 26 major assemblies in its production, including the afterbody shell, steering, tailcone, engine, coolant system and fuel delivery system. The contract calls for SAIC to supply heavyweight afterbody/tailcones and warshot fuel tank torpedo equipment and support and is divided between the Navy and a foreign military sale to Australia and Taiwan.

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