Lockheed Martin Corporation Wins $157 Million Hellfire Missile Contract

Hellfire Systems LLC is a wholly-owned subsidiary of Lockheed Martin.

Feb 10, 2014 at 7:29PM

The Department of Defense awarded only six defense contracts Monday, worth a total of $201.4 million. One single company won more than three-quarters of these funds, however, in a single contract win: Hellfire Systems.

Hellfire, as we've discussed in the past, is the wholly owned Lockheed Martin (NYSE:LMT) subsidiary that manufactures Hellfire air-to-ground missiles for the military. Originally a joint venture between Lockheed and Boeing (NYSE:BA), Hellfire is believed to still be paying Boeing residual "fee-per-missile" payments for each missile it sells. However, the bulk of the company's revenues go to Lockheed.

In the instant contract, Hellfire was awarded a $157.4 million contract modification, exercising an option to have Hellfire supply the militaries of Saudi Arabia, Jordan, and Indonesia with an unspecified number of Hellfire II missiles. Delivery of these missiles is due Nov. 30, 2016.

Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. 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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