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Lockheed Lands $68.7 Million in New Pentagon Contracts

The Pentagon has awarded Lockheed Martin (NYSE: LMT  ) $68.7 million in new defense contracts. Of the three contracts, the largest is a $50.2 million cost-plus-fixed-fee incrementally funded contract to provide "data transport and telecommunications services" to the U.S. Army through Sept. 30, 2013.

Lockheed's next-biggest award announced this week was an $11.8 million Foreign Military Sales award to provide maintenance and logistics support through June 30, 2015, for six Iraqi aircraft based out of the New al-Muthana Air Base in Baghdad, Iraq.

Finally, Lockheed won $6.7 million for the operational support of two K-MAX Cargo Unmanned Aircraft Systems (UAS) deployed in operational support of the Marine Corps. The K-MAX UAS is an unmanned helicopter built jointly by Lockheed and privately held aerospace firm Kaman Aircraft -- based on a helicopter design that Kaman already builds. The K-MAX is currently being used in small numbers to supply Marine detachments in Afghanistan in a trial run to see how it performs. Lockheed will be working on the instant contract through September 2013.

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Rich Smith
TMFDitty

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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8/3/2015 4:02 PM
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