SAIC gets contract worth up to $288 million

SAIC gets contract from Sandia Labs worth up to $228 million

Associated Press

MCLEAN, Va. (AP) -- SAIC said Monday that it could get as much as $228 million from a new contract with a laboratory that works with the Department of Energy.

The security and communications technology provider said it will provide computing and information technology services for Sandia National Laboratories. The contract will run for five years with an optional two-year extension. The deal will be worth about $228 million if the option is exercised.

Sandia National Laboratories works for the Energy Department's National Nuclear Security Administration. It is run by a subsidiary of Lockheed Martin Corp., and its main facilities are in Albuquerque, New Mexico, and Livermore, Calif.

SAIC, which is formally known as Science Applications International Corp., said it will be one of three companies working to consolidate IT services for Sandia.

SAIC, Inc. rose 7 cents Monday to close at a 52-week high of $13.85.

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