The value of micro cap stock for NCI Inc. (NASDAQ:NCIT) rose during trading on Monday, as the company benefited from news that it was recently awarded a contract with the U.S. Army.
According to a release, the company was awarded a competitive task order valued at $6.4 million to provide modeling, simulation, and network operations security center engineering support for the U.S. Army's Signal Center of Excellence. This department, located at Fort Gordon, Georgia, operates within the Capabilities Development Integration Directorate, Experimental Division.
"NCI is very pleased to broaden our relationship with the Army through services we will provide to the U.S. Army's Signal Center of Excellence at Fort Gordon. This award not only represents new business for NCI, but also a strategic entree into a key new location. We look forward to supporting the mission of the Capabilities Development Integration Directorate, Experimentation Division," said NCI's President, Brian J. Clark.
UPI reported that the IT services company may see its contract renewed after one year, increasing the value of the deal.
The company's stock rose $0.71 to $4.76 at 1:59 p.m. on July 2, an increase of 17.5 percent.