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Pentagon Awards $1.34 Billion in Defense Contracts Friday

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).

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Rich Smith

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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Related Tickers

8/28/2015 4:02 PM
LDOS $42.44 Up +0.38 +0.90%
Leidos Holdings, I… CAPS Rating: ****
LMT $203.90 Down -0.03 -0.01%
Lockheed Martin Co… CAPS Rating: ****
XLS $0.00 Down +0.00 +0.00%
Exelis Inc. CAPS Rating: *****