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ManTech (MANT) Secures $87 Million Contract from US Navy

Zacks Equity Research

Security software & services provider ManTech International Corporation MANT was recently awarded a prime contract worth $87 million by the Naval Surface Warfare Center Dahlgren Division (NSWCDD). Per the contract, ManTech will offer Test and Evaluation (T&E) support services to NSWCDD for its weapons and combat systems.

The contract has a base period of performance of one year, which can be extended by additional four years. ManTech will provide comprehensive T&E services to determine the efficacy of Aegis, Aegis BMD (Ballistic Missile Defense), SSDS (Ship Self Defense System), DDG-10000, and littoral combat ship platforms for inclusion in the U.S. Navy and other Department of Defense organizations. The littoral combat ship is a class of relatively small surface vessels, primarily intended for operations in the littoral zone (close to shore) by the U.S. Navy.

Such defense contracts are likely to boost revenues and augment the leading position of ManTech in the market. ManTech has outperformed the Zacks categorized Computer-Services industry in the last three months with an average return of 7.6% compared with 5.6% for the latter. The company continues to work closely with the U.S. defense agencies, providing expert security services. The contract further boosts its long-term business relationship with NSWCDD.

Based in Fairfax, VA, ManTech provides technical support to critical national security programs to approximately 50 federal agencies, through approximately 900 contracts. ManTech delivers a broad array of information technology and technical services solutions to the U.S. federal government customers, focusing primarily on critical national defense programs for the intelligence community and Department of Defense. The company designs, develops, procures, implements, operates, tests and maintains mission-critical, enterprise information technology and communication systems and infrastructure for federal government customers in the U.S. and worldwide.

Currently, ManTech carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same industry include ARI Network Services, Inc. ARIS, Scientific Games Corporation SGMS and Ebix Inc. EBIX. While ARI Network and Scientific Games carry a Zacks Rank #2 (Buy), Ebix sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

ARI Network has a long-term earnings growth expectation of 15% and has beaten estimates twice in the trailing four quarters for an average positive earnings surprise of 16.7%.

Scientific Games has beaten estimates twice in the trailing four quarters for an average positive earnings surprise of 13.9%.

Ebix has a long-term earnings growth expectation of 10% and has beaten estimates in all the trailing four quarters for an average earnings surprise of 15.0%.

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