Pentagon Awards $801 Million in Contracts

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The U.S. Department of Defense announced 19 new contract awards on Wednesday worth a little more than $801 million in aggregate. The biggest award by far -- a $250 million contract to support range operations and maintenance at Eglin Air Force Base in Florida, went to privately held InDyne of Reston, Va. But at least a few publicly traded companies also won contracts. Among them:

  • Britain's BAE Systems (NASDAQOTH: BAESY  ) (LSE: BA  ) took home one of the larger awards of the day, a $94.3 million contract modification adding additional "pricing periods" for advanced radar warning receiver ship sets that the Defense Logistics Agency Aviation had already ordered from BAE. Performance on the contract is now due December 5, 2018.
  • Southern Company (NYSE: SO  ) subsidiary Georgia Power Company won a $16.1 million option-year exercise to continue providing electrical power to the U.S. Army's Fort Gordon in Georgia.
  • Valeant Pharmaceuticals (NYSE: VRX  ) subsidiary Bausch & Lomb won a $13.5 million option-year exercise (the first of seven possible) on a contract to supply "various medical and surgical items" to Army, Navy, Air Force, Marine Corps, and federal civilian agency locations in California. This contract now runs through Aug. 30, 2014.
  • And finally, Raytheon (NYSE: RTN  ) was awarded a $9.9 million firm-fixed-price, non-option, non-multiyear contract to continue research and development work on Border Tunnel Activity Detection Systems for Egypt. This work is covered under an Egyptian Foreign Military Sales Letter of Agreement with the U.S. Army Corps of Engineers, and aims to interdict tunnels used to smuggle arms across the Egyptian border into Gaza, for use against Israel.


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