Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.

Pentagon Awards $192.6 Million in Defense Contracts Monday

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.

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.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2923909, ~/Articles/ArticleHandler.aspx, 3/1/2015 6:20:00 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...