Defense Contractors Win $266 Million in Pentagon Contracts
The Department of Defense released its daily catalog of defense contracting awards Tuesday evening, totaling $266 million -- give or take a few hundred thousand. What follows are the more significant contracts awarded to publicly traded companies:
- Philips Electronics' Medical Systems subsidiary was the biggest winner, landing a fourth option year award on a pre-existing fixed-price with economic-price-adjustment contract for the supply of patient monitoring systems, subsystems, accessories, consumables, spare/repair parts, and training to the military. Total contract value: $77.2 million, with a March 29, 2014, completion date.
- Xerox was awarded $14.9 million under a previously awarded firm-fixed-price, indefinite-delivery/indefinite-quantity contract. This "modification" extends for six months (to Sept. 30) Xerox's contract to supply and service copiers aboard Navy ships in port and at sea.
- Lockheed Martin won not one, but two contracts -- a $30.6 million contract to supply low-rate initial production units of an upgraded AN/SLQ-32(V) Electronic Warfare System under Surface Electronic Warfare Improvement Program (SEWIP) Block 2, which runs through September 2014, and also a $17.2 million contract to perform engineering work on AN/SQQ-89 Anti-Submarine Warfare sonar analysis systems. The latter contract concludes in September.
- Finally, Northrop Grumman was awarded $12.6 million to refurbish fuses on U.S. Air Force intercontinental ballistic missiles. Work on this contract is to be completed by June 30, 2014.
The article Defense Contractors Win $266 Million in Pentagon Contracts originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin and Northrop Grumman. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.
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