Pentagon Awards $1.34 Billion in Defense Contracts Friday

Exelis and Leidos are among the defense contractors winning work.

Mar 15, 2014 at 6:15AM

The Department of Defense awarded only five defense contracts Friday, worth $1.34 billion in total. Among the publicly traded companies winning contracts:

  • Exelis (NYSE:XLS) won a firm-fixed-price, time and material, undefinitized foreign military sales contract worth up to $75.3 million to supply the Turkish Air Force with 21 ALQ-211(V)-9 Advanced Integrated Defensive Electronic Warfare System pods. In addition to the pods themselves, Exelis will provide necessary support services, support equipment, and integrate the pods into Turkey's F-16D Block 50 fighter jets. This contract is expected to be complete by May 2017.
  • Leidos (NYSE:LDOS) was awarded a $9.8 million contract modification, under which it will provide information technology support to U.S. Army Enterprise Equipping Systems through March 15, 2015.

Additionally, the Pentagon clarified a point regarding the value of the $8 million Aegis Ashore Missile Defense contract modification awarded to Lockheed Martin (NYSE:LMT) Thursday. Specifically, the Pentagon noted that the total value of this contract to Lockheed, inclusive of Thursday's modification, has increased to $336.7 million (rather than to the $309.6 million previously reported).

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.

4 in 5 Americans Are Ignoring Buffett's Warning

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Jun 12, 2015 at 5:01PM

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David Hanson owns shares of Berkshire Hathaway and American Express. The Motley Fool recommends and owns shares of Berkshire Hathaway, Google, and Coca-Cola.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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