Lockheed Martin Wins Contract for F-35A and F-35B Fighter Jets

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

Lockheed Martin (NYSE: LMT  )  landed a pair of Pentagon contracts Thursday, worth some $85 million in aggregate.

The smaller of the two awards, for $14.6 million, went to a small Lockheed unit called Lockheed Martin Gyrocam Systems LLC. Gyrocam won a task order to provide field service representatives to assist the Navy on a vehicle optic surveillance system program in Afghanistan, including providing parts, logistics, maintenance, and training support for legacy systems. Lockheed's work on this contract should be complete by July 2014.

The larger award, this one for a more substantial $70.4 million, modifies a previously awarded advance acquisition contract to provide Lockheed with the funds needed to buy "long lead-time" parts, material, and components that will be required to build seven Conventional Take-Off and Landing F-35A Lightning II Joint Strike Fighter aircraft, and one Short Take-Off Vertical Landing F-35B Lightning II Joint Strike Fighter aircraft. All eight aircraft are destined for the Italian Air Force. Work on this long-lead contract is to be completed by February 2014. 

The Pentagon made a point of clarifying that "International Partner contract funds" will be paying for these planes; for example, Italy is picking up the tab for this contract, and not U.S. taxpayers.

Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2545445, ~/Articles/ArticleHandler.aspx, 9/27/2016 5:02:20 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 7 hours ago Sponsored by:
DOW 18,094.83 -166.62 -0.91%
S&P 500 2,146.10 -18.59 -0.86%
NASD 5,257.49 -48.26 -0.91%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/26/2016 4:02 PM
LMT $245.53 Down -0.31 -0.13%
Lockheed Martin CAPS Rating: ****