On Thursday, the Department of Defense announced the award of several small (in defense industry terms) contracts to a handful of companies. Collectively, the awards add up to $38 million in value. Individually, they break down as follows:
- EADS (NASDAQOTH:EADSY) was awarded a $21 million modification to a previously awarded firm-fixed-price contract to supply "security and support mission equipment package production cut-in services" to the U.S. Army. According to DoD, with this modification, the value of EADS's initial contract win has risen to $2.26 billion.
- CACI (NYSE:CACI) won a $9.7 million modification to a firm-fixed-price contract for the provision of "program management and engineering services" supporting DoD biometric programs. The total cumulative face value of the underlying contract has now risen to $43.4 million.
- Lockheed Martin (NYSE:LMT) was awarded $7.3 million as a modification to its contract to incorporate Large Aircraft Infrared Countermeasures (LAIRCM) NexGen Sensors onto HC/MC-130J aircraft Super Hercules transport aircraft. LAIRCM is a laser-based aircraft anti-missile defense mechanism being developed by Northrop Grumman for the Air Force. It involves mounting hi-intensity lasers on an aircraft, which lasers are then used to disable incoming missiles. Lockheed's work, installing the system on the Super Hercules planes, should be complete by Oct. 15, 2015.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin and Northrop Grumman. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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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