Pentagon Awards $960 Million in Defense Contracts Wednesday

Winners include subsidiaries of L-3 Communications and Italy's Finmeccanica.

Mar 12, 2014 at 8:35PM

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.

Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of L-3 Communications Holdings. 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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