Teledyne Wins $120 Million NASA Contract
On Thursday, Teledyneannounced that its Teledyne Brown Engineering subsidiary has won a five-year prime contract to continue supporting the International Space Station Payload Operations Integration Center, a contract worth potentially $120.1 million.
During past work on similar contracts, Teledyne has been asked to integrate payloads into the ISS, train crews to install and use these payloads, assist in preparation of science experiments, and provide real-time support to science teams aboard the station. So essentially, Teledyne is helping to coordinate work being conducted between two teams of scientists -- those up in space aboard the ISS, and those down on Earth, working with the astronauts on experiments, and helping to analyze the results.
The new contract term begins March 1, and is expected to run through the next five years.
Teledyne shares reacted positively to the announcement, gaining 0.3% on a down day for the market, and closing at $69.19.
The article Teledyne Wins $120 Million NASA Contract originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.