Lockheed Lands $256 Million in Missile, Other Pentagon Contracts

Lockheed Martin (NYSE: LMT  ) was awarded no fewer than five separate Department of Defense contracts Friday, worth a combined a $256.6 million. The bulk of the money came in the form of a single indefinite-delivery/indefinite-quantity, cost-plus-fixed-fee award to support the operation of the Joint Land Component Constrictive Training Capability -- a high-level military simulator for training officers at the brigade level and above. Lockheed was awarded a contract with a maximum ceiling value of $146 million to support this work through March 31, 2018.

Other, smaller awards included:

  • A $65 million contract modification on a foreign military sales contract to work on the Aegis Weapon System Modernization program in Japan. Work on this contract is expected to be complete by January 2017.
  • A second foreign military sales contract worth $19.9 million (cost-plus-incentive-fee) to support the Patriot Advanced Capability Missile Support Center's work in the Netherlands, Japan, and the United Arab Emirates. No completion date was specified on this contract.
  • $18.7 million to provide engineering and technical support for British Trident II Missile Systems, ensuring that the U.K.'s Fleet Ballistic Missile Program is meeting "planned milestone schedules and emergent requirements." This contract runs through March 2015.
  • $7 million in a firm-fixed-price contract to perform unspecified "weapons systems support" at Luke Air Force Base in Arizona through March 31, 2014.

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9/23/2016 4:02 PM
LMT $245.84 Down -0.78 -0.32%
Lockheed Martin CAPS Rating: ****