Defense Contractors Win $266 Million in Pentagon Contracts

Rich Smith, The Motley Fool
Updated

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.

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