Pentagon Awards $960 Million in Defense Contracts Wednesday

The Department of Defense awarded six separate defense contracts Wednesday, worth $960 million in total. Two subsidiaries of publicly traded defense contractors won contracts:

L-3 Communications (NYSE: LLL  ) subsidiary Interstate Electronics Corp. was awarded an $8.9 million contract modification exercising options on line items to conduct a "new technology refresh" of C-Band Pulse Doppler Radar Transmitters, and to replace Navy Mobile Instrumentation Ship Communication Systems supporting flight tests of Trident II ballistic missiles. Specifically, L-3 will perform system engineering, design, and development work, system testing, verification, and validation, and support logistics and provide full system documentation necessary to support the test flights. All of this work is to be completed by March 15, 2016.

Meanwhile, Italian defense contractor Finmeccanica's (NASDAQOTH: FINMY  ) subsidiary DRS Technical Services won a $30.3 million hybrid firm-fixed price, cost-plus fixed-fee and cost reimbursable multi-year contract to operate, control, and maintain satellite communications between the continental United States and U.S. Army locations worldwide. DRS will also provide "help desk" and field operations support related to the communications systems. DRS's contract will continue through at least March 11, 2017.


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: 2873979, ~/Articles/ArticleHandler.aspx, 7/29/2014 1:11:56 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...


Advertisement