Pentagon Awards $96 Million in Defense Contracts Tuesday

United Technologies, TransDigm Group, Northrop Grumman, and Exelis all win contracts.

Jun 11, 2014 at 4:25PM

The Department of Defense awarded only six defense contracts in its Tuesday evening announcement of contract awards, released after stock markets closed for the day. The total value of contracts awarded was $96.3 million.

Four publicly traded defense companies won contracts, namely:

  • United Technologies (NYSE:UTX), whose subsidiary won an $11 million sole-source, firm-fixed-price, foreign military sales contract to supply spare parts and support equipment to Pakistan under a "Pakistan DB-110 sustainment effort" that will continue through July 2015.
  • Exelis (NYSE:XLS), which won a $9.6 million sole-source, firm-fixed- price, foreign military sales contract to supply the Saudi Arabian National Guard with a Ground Control Approach System, or GCA, and to install same at the Khasham Al An Airbase. This GCA system assists with aircraft approach and landing operations, including airspace control and air traffic control operations. Work on this contract should be complete by June 10, 2024.
  • Airborne Systems, which, according to S&P Capital IQ, is a subsidiary of TransDigm Group (NYSE:TDG), was awarded a $7.8 million firm-fixed-price job order to supply the U.S. Navy with components for the MK 59 Mod 0 Decoy Launch System. The MK 59 DLS is a deck-mounted countermeasure system that deploys an advanced inflatable radar decoy cartridge. By simulating the radar cross-section of a warship, this decoy confuses hostile anti-ship missiles. Delivery is due by April 2016.
  • Northrop Grumman (NYSE:NOC) won an indefinite-delivery/indefinite-quantity contract worth up to $7 million to supply the U.S. Air Force with an L-Band Radio Frequency Power Amplifier for the Global Positioning System Spacecraft Navigation Payload. "Task order 0001" under this contract has a completion date of March 2015, but the full contract on which Northrop is working is expected to run for 36 months.

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Rich Smith has no position in any stocks mentioned. The Motley Fool recommends TransDigm Group and 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.

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