Pentagon Awards $345 Million in Contracts Monday
Starting the week off slow, the U.S. Department of Defense announced only a half-dozen new contracts Monday, worth a bit over $345 million in aggregate value. Raytheon scored the big win of the day -- a monster $279 million deal to develop a new electronic warfare product for the Navy. But it wasn't the day's only winner:
- L-3 Communications won a $33.2 million contract modification to supply 12 tactical operational flight trainer, or TOFT, high-definition visual system kits to Naval Air Station Oceana, NAS Lemoore, and NAS Whidbey Island, and to supply 14 additional sets of TOFT parts to other Marine Corps and Naval Air Stations. In addition, L-3 is to supply the Royal Australian Air Force with high-def visual systems for two Australian F/A-18E/F Super Hornets TOFTs under the U.S. foreign military sales program. All deliveries should be complete by May 2016.
- CACI was awarded a $9.4 million contract modification to support systems development for the Military Sealift Command's Command, Control, Communications, and Computer Systems directorate in Washington, D.C., through July 2014.
- Finally, Moog won a firm-fixed-price, sole-source contract worth up to $7.7 million to supply V-22 "Osprey" aircraft swashplate actuators (a part of the plane's rotor assembly). The completion date on this contract is September 2014.
The article Pentagon Awards $345 Million in Contracts Monday originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of L-3 Communications Holdings and Moog. 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.