The Department of Defense announced $2.61 billion worth of contracts Tuesday in 52 separate awards --- and General Dynamics (GD 0.93%) won two of them.
The company's first and largest win was actually a contract "modification" rather than a new contract, and was awarded to General Dynamics' Electric Boat Corp subsidiary, not to the parent company per se. It exercises options to have Electric Boat continue performing lead-yard services, development studies, and design efforts on Virginia-class nuclear fast-attack submarines, and is valued at $152.4 million. Work on this contract should be completed by September 2014.
Another General Dynamics division, Ordnance and Tactical Systems this time, won an actual new contract, a $34.1 million firm-fixed-price, non-option-eligible, non-multiyear contract whereby the defense contactor will disarm and dispose of M26 (H104) Multiple Launch Rocket System rocket pod containers, rockets, and components.
Together, the two contracts amount to $186.5 million in incremental revenue for General Dynamics.
