Pentagon Awards $402 Million in Defense Contracts Wednesday

Northrop Grumman, BAE Systems, FLIR Systems, Boeing, and Exelis all win contracts.

Jun 26, 2014 at 11:48AM

The Department of Defense awarded 11 defense contracts in its Wednesday evening announcement of contract awards, released after stock markets closed for the day. The total value of contracts awarded came to $401.9 million.

Among the publicly traded companies winning contracts:

  • Northrop Grumman (NYSE:NOC) was awarded a $24 million contract modification for work on a pre-existing U.S. Air Force Navigation Warfare Technology Research Modeling, Simulation, Wargaming, and Analyses contract. The total value on this contract has now increased to $48 million, and its duration is extended through April 26, 2017.
  • Boeing (NYSE:BA) was awarded a $14.9 million delivery order to supply the U.S. Navy with two Mission Systems Emulation Environment units for use in the "P-8A Poseidon Increment 3 Interface Development" program, upgrading P-8A Poseidon sub-hunting aircraft. Hardware, Tactical Open Mission software, computer software configuration items, and P-8A real-time simulators and interactive warfare simulators are also included in this order, which has a September 2016 delivery deadline.
  • BAE Systems (NASDAQOTH:BAESY) was awarded a $14.8 million contract modification to perform maintenance and upgrades work on the landing ship dock USS Harpers Ferry (LSD 49) while it is in port in San Diego through November.
  • FLIR Systems (NASDAQ:FLIR) subsidiary ICx Technologies was awarded a $6.6 million contract modification to supply spare parts for low-rate initial production of dismounted reconnaissance sets, kits, and outfits used by U.S. Army, Marine Corps, Air Force, Navy, and civil support teams for "nuclear biological chemical contamination avoidance." Deliveries are due Sept. 30.
  • Exelis (NYSE:XLS) won a requirements-type contract with firm-fixed unit prices and cost reimbursable contract line numbers, estimated at $6.5 million in value. Under this contract, Exelis will provide material, appliances, and "above and beyond services" for maintenance services at government family housing facilities at the Kaiserslautern Military Community in Germany, comprising numbering 1,903-plus housing units at Landstuhl, Ramstein Air Base, and Vogelweh Air Base. This contract runs through Sept. 30, 2019. 

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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.

4 in 5 Americans Are Ignoring Buffett's Warning

Don't be one of them.

Jun 12, 2015 at 5:01PM

Admitting fear is difficult.

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Our team of analysts wrote down every single word Buffett and Munger uttered. Over 16,000 words. But only two words stood out to me as I read the detailed transcript of the event: "Real threat."

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David Hanson owns shares of Berkshire Hathaway and American Express. The Motley Fool recommends and owns shares of Berkshire Hathaway, Google, and Coca-Cola.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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