On Thursday, Teledyne (NYSE:TDY) announced that its Teledyne Brown Engineering subsidiary has won a five-year prime contract to continue supporting the International Space Station Payload Operations Integration Center, a contract worth potentially $120.1 million.
During past work on similar contracts, Teledyne has been asked to integrate payloads into the ISS, train crews to install and use these payloads, assist in preparation of science experiments, and provide real-time support to science teams aboard the station. So essentially, Teledyne is helping to coordinate work being conducted between two teams of scientists -- those up in space aboard the ISS, and those down on Earth, working with the astronauts on experiments, and helping to analyze the results.
The new contract term begins March 1, and is expected to run through the next five years.
Teledyne shares reacted positively to the announcement, gaining 0.3% on a down day for the market, and closing at $69.19.