Pentagon Awards $1.34 Billion in Defense Contracts Friday

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The Department of Defense announced 12 new defense contracts Friday, worth $1.34 billion in total. The vast majority of these funds went to the Institute for Defense Analysis, an Alexandria, Va.-based, federally funded institution that conducts R&D work for DoD. But a small handful of publicly traded companies also won contracts. Among them:

  • AAR's AAR Airlift Group was awarded a $151.6 million contract modification exercising option year four on a task order to supply the U.S. Air Force with helicopters and necessary personnel, equipment, tools, and maintenance materiel for the purpose of performing passenger and cargo air transportation. The extended contract will now run through Oct. 31, 2014.
  • Cubic won a $25 million firm-fixed-price foreign military sales contract to supply the governments of Morocco, Oman, Saudi Arabia, and Singapore with P5Combat Training Systems, used to train pilots in combat proficiency in counter air operations, close air support, strategic attack, air interdiction, and electronic combat. This contract should be complete by July 20, 2015.
  • L3 Communications was awarded a $22 million third option-year exercise on a contract to provide logistics support to U.S. Air Force C-12 transport aircraft. The extended contract will now run through Oct. 31, 2014.

The article Pentagon Awards $1.34 Billion in Defense Contracts Friday originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Cubic and owns shares of L-3 Communications Holdings. 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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