The Department of Defense awarded San Diego-based Cubic Corporation (NYSE:CUB) a $19.9 million contract modification Friday, amending a previously awarded firm-fixed-price, foreign-military-sales contract in support of the Israeli military.
The contract in question involves the sale of Israeli Defense Forces Engagement Skills Trainer 2000 Plus Systems and related services to the IDF. The EST2000 is a combat simulator used by the IDF to train on a variety of small arms systems, from M16 and M4 rifles all the way up to mortars and LAW and RPG rockets. Essentially a hi-tech shooting gallery, the EST trains troops in marksmanship, small unit tactics, and "shoot/don't shoot" techniques and skills.
Cubic collaborates with local firms such as Israel's Rafael and Bagira Systems in tailoring the EST2000 to the requirements of the IDF.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Cubic. 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.