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Jacobs Wins Engineering Contracts; Lockheed to Upgrade Aegis

The Department of Defense announced three contracts to publicly traded companies on Friday. Two of these awards went to a single company -- the Jacobs Technology subsidiary of Jacobs Engineering (NYSE: JEC  ) -- including:

  • A $9.7 million cost-plus-fixed-fee and cost-reimbursable contract to provide engineering and technology acquisition support services to the U.S. Air Force on "approximately 400 system/program activities" through Nov. 19, 2013.
  • A separate, $7.5 million cost-plus-fixed-fee and cost-reimbursable contract, to provide engineering and technology acquisition support services to the Air Force on unspecified other projects. This second, smaller award, however, was assigned the same completion data as for the first contract -- Nov. 19.

The third contract awarded Friday went to Lockheed Martin (NYSE: LMT  ) , and specifically to its Mission Systems and Training division. Valued at $24.1 million, this contract exercises an option to extend work on the Aegis Combat System Engineering Agent for the "next/future Advanced Capability Build," or ACB, through December. 

ACB refers to a Navy program to upgrade the effectiveness of the Aegis missile defense system for use on CG 47 Ticonderoga-class guided missile cruisers and DDG 51 Arleigh Burke-class guided missile cruisers and guided missile destroyers.

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9/30/2016 4:06 PM
JEC $51.72 Down -0.24 -0.46%
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LMT $239.72 Down -2.62 -1.08%
Lockheed Martin CAPS Rating: ****