Pentagon Awards $885.7 Million in Defense Contracts Wednesday

Winners include Ball Aerospace, L-3 Communications, Esterline Technologies, Raytheon, and QinetiQ.

May 1, 2014 at 9:37AM

In a sudden (and this year, uncharacteristic) frenzy of buying activity, the Department of Defense awarded 26 separate defense contracts in its Wednesday evening announcement of contract awards. The total value of contracts awarded was $885.7 million. Among the companies winning contracts:

  • Ball Aerospace (NYSE:BLL) won a $23.9 million firm-fixed-price contract to supply the U.S. Navy with "Stalker" long-range electro-optical/infrared/laser range finders, which are used as part of the NATO Seasparrow Missile System MK 57 on the MK 9 Tracker Illuminator System. Delivery of this equipment is due in April 2016.
  • L-3 Communications (NYSE:LLL) was awarded a $10.5 million contract modification to perform 26,752 hours' worth of systems technical support on Bradley Fighting Vehicle transmissions for the U.S. Army through June 30, 2015.
  • ARMTEC, which S&P Capital IQ notes is a subsidiary of Esterline Technologies (NYSE:ESL), won a $9.9 million firm-fixed-price, indefinite-delivery, sole-source contract to design, develop, maintain and manufacture systems using combustible and consumable type products technology for the Army Research, Development, and Engineering Command through May 1, 2019.
  • Britain's QinetiQ (LSE:QQ) won an indefinite-delivery/indefinite-quantity contract worth up to $7.8 million for work on the U.S. Air Force's Battlefield Air Targeting Man-Aided Knowledge II, or BATMAN II, Advanced Technology Demonstration Program, along with a $218,128 cost-plus-fixed-fee task order for BATMAN II. This contract will continue in force through April 30, 2020.
  • Raytheon (NYSE:RTN) won a $6.6 million cost-plus-fixed-fee contract to do maintenance work and all-up-round recertifications on U.S. Navy Evolved Seasparrow Missiles through at least December 2016. This contract includes options that, if exercised, would extend its duration and increase the total value of this contract to $15 million.

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