Pentagon Awards $1.31 Billion in Contracts Thursday

The Department of Defense announced only nine new defense contracts on Thursday, but it still managed to spend $1.31 billion. Among the publicly traded companies winning defense work:

  • Textainer Group Holdings (NYSE: TGH  ) won a $16 million indefinite-delivery-requirements-type, fixed-price with economic-price-adjustment contract to assist the U.S. Transportation Command Directorate of Acquisition with program management, and with the leasing, transportation, and repair of intermodal equipment through Sept. 30, 2017.
  • Exelis (NYSE: XLS  ) was awarded an $11.5 million option exercise to support center base logistical operations at the U.S. Army's Fort Rucker in Alabama through Dec. 16, 2014. This contract appears to reside with the Exelis division that the company intends to spin off next summer.
  • Verizon Communications (NYSE: VZ  ) was awarded an $11.1 million sole-source contract modification to provide an additional six months' worth of "Defense Research and Engineering Network II" telecommunication services in support of the U.S. Defense Information Systems Agency's High Performance Computing Modernization program office. This contact will now run through June 18, 2014.
  • Science Applications International Corp (NYSE: SAI  ) was awarded a $10 million, one-yearlong option exercise on a contract to care for and train marine mammals through Dec. 31, 2014 as part of the U.S. Navy's Navy Marine Mammal Program (NMMP ). 
  • And finally, United Technologies (NYSE: UTX  ) subsidiary Simmonds Precision Products was awarded a $7.9 million option exercise to supply the U.S. Navy with eight MH-60S integrated mechanical diagnostic systems (IMDS) production A1 kits, 27 IMDS integrated vehicle health and management units and data transfer units, 17 MH-60S IMDS retrofit kits, 19 MH-60R IMDS Troy kits, and 19 MH-60R IMDS production A1 kits -- all for use on Sikorsky Seahawk helicopters. Delivery is due in December 2015. 

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

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.

DocumentId: 2763641, ~/Articles/ArticleHandler.aspx, 4/19/2014 12:46:02 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...