The Department of Defense awarded only six defense contracts in its Monday announcement of contract awards, released last night after market close. Out of these six contracts, worth a combined $192.6 million, the only publicly traded company to win an award was Northrop Grumman (NYSE:NOC).
In fact, Northrop won two contracts last night, worth $48.3 million together:
- A $31.1 million firm-fixed-price, cost-plus-fixed-fee, cost-reimbursement, indefinite-delivery/indefinite-quantity contract to maintain 44 U.S. Navy and Marine Corps Reserve F-5N/F Tiger II aircraft. Northrop will be responsible for maintaining, inspecting, repairing, and modifying the aircraft, as well as for providing engineering support and supplying structural components necessary to keep the F-5N/F aircraft flying. The F-5 Tiger II is an "adversary" aircraft used by the U.S. military in training its pilots to dogfight hostile aircraft. As such, the F-5 takes the role of the "enemy" in such training missions. Northrop's role under this contract will continue through March 2015.
- A $17.2 million contract modification under which Northrop will provide the U.S. Marine Corps with additional testing and test support during Common Aviation Command and Control developmental tests and weapons tactic instructor test events. Work under this contract will now continue through June 30.
Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Northrop Grumman. 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.