Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.

Recs

0

Northrop Wins $78 Million for Drone and Destroyer Work

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

On Monday, the Department of Defense announced that it has awarded defense contractor Northrop Grumman (NYSE: NOC  ) a pair of contracts worth a combined $77.9 million.

The larger of the two contracts, a $71.2 "modification" (i.e., an add-on) to an existing contract, calls for Northrop to provide engineering services related to the production and passing of acceptance tests on Global Hawk unmanned aerial vehicles. Work on this contract should be complete by the end of 2014.

The second, small contract is for $6.7 million, a firm fixed price, and calls on Northrop's Maritime Systems division to perform design, production, and testing works on Integrated Bridge Navigation System equipment for the DDG 51 modernization program. This is the program under which the Navy performs upgrades and "modernization" work on Arleigh Burke-class guided missile destroyers as the ships reach their "approximate midlife point (17 1/2 years)."

According to the Pentagon contract announcement, up to three ships per year are to undergo this modernization every year through fiscal year 2017. It is currently unclear whether this pace will be maintained in the face of sequester, but the instant contract is expected to be completed by June 2014. 


Read/Post Comments (0) | Recommend This Article (0)

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2277721, ~/Articles/ArticleHandler.aspx, 8/23/2016 9:39:30 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 23 minutes ago Sponsored by:
DOW 18,547.30 17.88 0.10%
S&P 500 2,186.90 4.26 0.20%
NASD 5,260.08 15.48 0.30%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

8/23/2016 4:01 PM
NOC $214.50 Down -3.76 -1.72%
Northrop Grumman CAPS Rating: ****

Advertisement