Lockheed Martin Lands $822.5 Million in Defense Contracts Friday

The Department of Defense announced 12 new defense contracts Friday, worth $1.07 billion combined. Lockheed Martin (NYSE: LMT  ) , the nation's largest pure-play defense contractor, captured four of them, including the day's biggest contract -- a monster $574.5 million deal to build Aegis weapon systems for the U.S. Navy. As for the company's (relatively) smaller wins, Lockheed Martin also won:

  • A $116.1 million cost-plus-incentive-fee contract modification paying for integration work on the U.S. Air Force Space and Missile Systems Center's Space Vehicle 4 (SV-4), putting the space vehicle (a new GPS satellite) into the launch vehicle. Lockheed will also receive funding to prepare for launch operations for the mission. This contract runs through July 31, 2019.
  • An $84.6 million contract modification funding production of Acoustic Rapid Commercial-Off-The-Shelf Insertion (A-RCI) sonar systems for the Navy. A-RCI is designed to integrate and improve towed array, hull array, sphere array, and other sonar sensor signals processing for U.S. nuclear submarines. Lockheed Martin is expected to complete work on this contract by September 2018.
  • A $47.3 million option exercise, tasking Lockheed Martin with supporting critical air, missile and space defense operations at the NORAD Cheyenne Mountain Complex and other NORAD locations through Sep. 30, 2014.

Read/Post Comments (4) | 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.

  • Report this Comment On December 28, 2013, at 12:29 PM, Wasatcher wrote:

    How much bribe money went into the pockets of the warmongers running this country to get this deal finalized? These perpetual wars are killing us, literally and figuratively!

  • Report this Comment On December 28, 2013, at 8:22 PM, vbfg56tg wrote:

    Everyone - please show this to everyone you know! Thank you!

    Obama supporters will go hysterical over this well sourced list of 504 examples of his lying, lawbreaking, corruption, cronyism, etc. http://danfromsquirrelhill.wordpress.com/2013/08/15/obama-25...

  • Report this Comment On December 28, 2013, at 9:40 PM, RobAllen wrote:

    Wasatcher, you are so right there are people in the

    US gov. pushing for defense spending so they can

    make money at the cost of tax payers & young US

    soldiers lives. We must push Congress to cut this

    type of spending for US citizen sake in order for us

    to have money for social programs to improve the

    lives of our people, these Republican complain why

    do we waste money on poor american but its better

    than making wars all over the world for their benefit.

  • Report this Comment On December 29, 2013, at 11:24 AM, cityperson wrote:

    Then this same adminstartion wants to and working on cuting benefits and other things for the militray and retired military. Thank you again Obama.

Add your comment.

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: 2777878, ~/Articles/ArticleHandler.aspx, 12/22/2014 11:01:42 PM

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...


Advertisement