Watch stocks you care about
The single, easiest way to keep track of all the stocks that matter...
Your own personalized stock watchlist!
It's a 100% FREE Motley Fool service...
On Thursday, the Department of Defense awarded a series of four different defense contractors supporting roles in a project to provide training for a range of program offices within the U.S. Navy's Space and Naval Warfare Systems Center Pacific's Training Development and Support Center.
Privately held Salient Federal Solutions of Fairfax, Va., won one of these awards, an indefinite-delivery/indefinite-quantity, cost-plus-fixed-fee, multiple-award contract valued at approximately $34.6 million.
Mantech (NASDAQ: MANT ) won a similar indefinite-delivery/indefinite-quantity, cost-plus-fixed-fee, multiple-award contract with an estimated value of $33.6 million.
Kratos Defense & Security (NASDAQ: KTOS ) won a similar indefinite-delivery/indefinite-quantity, cost-plus-fixed-fee, multiple-award contract with an estimated value of $35.2 million.
Science Applications International Corp (NYSE: SAI ) won the fourth award -- also an indefinite-delivery/indefinite-quantity, cost-plus-fixed-fee, multiple-award contract, and this one was worth $35.3 million.
Each of these four contractors will have the opportunity to compete for task orders under the respective contracts between now and March 4, 2017. Because different estimated values are assigned to the different contracts, however, it would appear that the specific dollar figures named are the values, out of total funds available, that the respective defense contractors are expected to win -- rather than rote recitations of a single "pot" of funds to be divided among the four contractors.
Additionally, SAIC won a second, unrelated contract on Thursday. Valued at $33 million, this contract modification will exercise an option to have SAIC perform "anti-terrorism/force protection global sustainment" services for various Navy offices around the world. SAIC will be responsible for preventative and corrective maintenance, repair and replacement, service calls, and systems/software upgrades for anti-terrorism/force protection ashore equipment. This contract will now run through March 2015. Its total value, including today's option award, has increased to $60.2 million.