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Pentagon Announces $263 Million in New Contracts Thursday

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The U.S. Department of Defense awarded 11 new contracts Thursday, worth just under $263 million in aggregate. Among the publicly traded companies winning contract work:

  • Exelis (NYSE: XLS  ) won a firm-fixed-price, sole-source contract to supply the U.S. Air Force with "spare parts for core memory units," in a deal valued at up to $7.9 million.
  • Rolls-Royce (NASDAQOTH: RYCEY  ) was awarded $22.4 million to perform maintenance work on KC-130J aircraft propulsion systems for the Navy.
  • Siemens' (NASDAQOTH: SIEGY  ) Medical Solutions USA subsidiary won a $28.2 million "first option period" exercise following a two-year base contract in which the U.S. Defense Logistics Agency hired it to do work on a digital imaging network-picture archive communication system. 
  • And Raytheon (NYSE: RTN  ) Missile Systems was awarded a sole-source, cost-plus-fixed-fee contract "action" worth $57.2 million to work on upgrades and provide engineering support on Standard Missile-3 Block IIA. DoD notes that the total value of the underlying SM-3 IIA contract is now just shy of $1.6 billion.

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Rich Smith

I love things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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XLS $0.00 Down +0.00 +0.00%
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