Pentagon Awards Only Two Small Defense Contracts Friday
Ending the week on a slow note, the Department of Defense announced only two new defense contracts on Friday, worth just $40.4 million in total.
The smaller of the two awards, and the only one going to a U.S.-listed public company, went to CACI Technologies . Worth $14.2 million, this contract modification requires CACI to provide additional professional support services in support of the U.S. Navy's Expeditionary Warfare Program Office through March 2014. Specifically, CACI will be assisting the Navy with program analysis, development, control, and monitoring support, administration, communication and human resources; business, finance and cost estimating; technical and engineering support; information technology; and life cycle support in the Washington Navy Yard office location.
The slightly larger contract, worth $26.2 million, went to Pocasset, Mass.-based Hydroid, a wholly owned subsidiary of Norway's Kongsberg Maritime AS. Hydroid's cost-plus-fixed-fee, firm-fixed-price, indefinite-delivery/indefinite-quantity contract hires the firm to provide engineering services for, perform repairs on, and give training support for U.S. Navy MK18 Kingfish unmanned underwater vehicles (UUVs). Technically expected to run for a one-year base term, with four one-year "optional" extensions, the Pentagon nonetheless expects this contract to remain in force for the full five years, through September 2018.
The article Pentagon Awards Only Two Small Defense Contracts Friday originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned, and neither does The Motley Fool. 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.