On Tuesday, the last day of April, the Department of Defense "made it rain" for multiple defense contractors. In all, the DoD awarded 19 contracts Tuesday, promising to pay out more than $2.8 billion in aggregate. Winners among publicly traded companies included:
- British defense contractor BAE Systems' (OTC:BAESY) Norfolk Ship Repair unit was awarded a $49.4 million firm-fixed-price contract to perform work on the guided missile destroyer USS Porter while in drydock. This contract is expected to be complete by April 2014, but if optional extensions of the contract are exercised, this could extend the duration and increase this contract's value to $61.3 million.
- Target Construction of Henderson, Nev., was awarded a firm-fixed-price contract valued at up to $41.6 million to perform construction services in support of the Hurricane Protection System for the U.S. Army Corps of Engineers.
- Canadian IT contractor Softchoice Corp. won a $17.5 million delivery order against a single award blanket purchase agreement to procure Microsoft brand name "Software Assurance" software support for the U.S. Marine Corps. Softchoice should complete its task by May 31, 2014.
- Boeing (NYSE:BA) received a $13.6 million firm-fixed-price, cost-plus-fixed-fee foreign military sales contract to install computerized fault reporting systems and aircraft maintenance debriefing systems for Royal Saudi Air Force F-15 C/D fighter jets. This contract has a three-year base term, to be followed by two possible one-year extensions, which could extend the contract through May 4, 2018.
- United Technologies' (NYSE:UTX) Pratt & Whitney subsidiary won a maximum $7.9 million firm-fixed-price, sole-source contract to supply the U.S. Air Force with spare aircraft engine turbine disks. It should complete the contract by Jan. 29, 2016.