Pentagon Awards $298.8 Million in Defense Contracts Monday

Jacobs Engineering, Raytheon, L-3 Communications, and IBM all win contracts.

Jan 6, 2014 at 9:25PM

The Department of Defense awarded 10 new defense contracts Monday, worth $298.8 million in total. The bulk of these funds -- $205 million and change -- went to a series of four federally defined "small business" lumber companies supplying the Defense Logistics Agency with necessary "wood products." A small handful of publicly traded defense contractors did also win contracts, however. Specifically:

  • IBM (NYSE:IBM) was awarded a $19.9 million contract modification to support the Army General Fund Audit Readiness program through July, 9.
  • Jacobs Engineering (NYSE:JEC) was awarded a $15.2 million contract modification to continue providing engineering technical assistance to the U.S. Air Force through May 19.
  • Raytheon (NYSE:RTN) won a $10.5 million firm-fixed-price foreign military sales contract to supply the Royal Danish Navy with nine multi-spectral targeting systems for its MH-60R/S Sikorsky Seahawk helicopters. Delivery is due December 2015.
  • L-3 Communications (NYSE:LLL) won a $10 million firm-fixed-price indefinite-delivery/indefinite-quantity contract to supply the U.S. Army with unspecified commercial lighting tubes "which increase range and field of vision in darkness" for use by special operations troops. Delivery on this contract is due Jan. 2, 2018.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of IBM, L-3 Communications Holdings, and Raytheon. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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