- $11.8 million: in the form of an option exercise on a cost-plus-incentive-fee contract previously awarded to its Insitu drone-building subsidiary. The option provides for Insitu to supply one Low Rate Initial Production land-based, small tactical unmanned aircraft system, plus associated testing and logistical support. The new drone will be delivered to the U.S. Navy by May 2014.
- $14.3 million: an add-on to a previously awarded firm-fixed-price, foreign military sales contract to supply Apache Block III aircraft and associated parts and services to the government of Saudi Arabia.
- a significantly larger $69.2 million award modifying a related foreign-military-sales contract -- again for the supply of Apaches and associated parts and services to the Saudis.
May 22, 2013 at 9:04PM
I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.
- May 22, 2013 at 9:04PM