On the final day of its fiscal year, the Department of Defense announced 95 separate contract awards on Monday, worth $5.526 billion in total. Amazing as this number is, however, three other numbers are even more impressive: One single defense contractor won one of these contracts -- and more than 45% of the Pentagon's money.
Its name: United Technologies (NYSE: UTX ) , whose Pratt & Whitney subsidiary won a sole-source, firm-fixed-price contract worth up to $2.5 billion to supply the U.S. Army, Navy, Air Force, and Marine Corps with various weapons systems spare parts.
Not all defense contractors were so lucky, of course. Among the day's smaller awards:
- Computer Sciences (NYSE: CSC ) won a "definitized contract action" modifying the value of a contract to provide IT services to Marine Corps' Technology Services Organization, assisting on "highly complex government designed and owned Marine Corps business systems that have no parallel in other sectors of the government or private industry." Today's action adds $14.6 million to the value of CSC's contract.
- Woodward (NASDAQ: WWD ) won a sole-source, firm-fixed-price contract worth up to $12.9 million to do main fuel control work for the U.S. Air Force through June 25, 2016.
- Cubic (NYSE: CUB ) won a $12.6 million firm-fixed-price contract to design, develop, build ruggedized prototypes of, test and integrate weapon instrumentation to be used in conjunction with the Marine Corps' Instrumented-Tactical Engagement Simulation System, Increment II (I-TESS II). This contract should be completed by Sept. 30, 2017.
- And Engility (NYSE: EGL ) won a $9.7 million multiyear, no-option, cost-plus-fixed-fee contract to conduct R&D work for the Army Research Laboratory's Vehicle Technology Directorate's platform mechanics, propulsion technologies, autonomous systems, and vehicle analysis sections.