The Department of Defense awarded a bit more than $235 million worth of contracts Wednesday, with three big publicly traded companies accounting for more than a quarter of the total contract value awarded.
- Lockheed Martin (NYSE:LMT) won a $39 million contract exercising a firm-fixed-price option to produce Block 2 Surface Electronic Warfare Improvement Program (SEWIP) systems at low-rate initial production rates. The SEWIP program aims to upgrade the U.S. Navy's current AN/SLQ-32(V) Electronic Warfare System to improve the performance of antennae and receivers. Work on this contract should be complete by September 2014.
- Raytheon (NYSE:RTN) was awarded a $14.6 million modification to a previously awarded contract to do phase II design work on the Joint Precision Approach and Landing System (JPALS), assessing, documenting, and implementing design modifications to make the JPALS Increment 1A Ship system easier to maintain. JPALS is a project to make aircraft landing systems that run on GPS more robust, and harder for opposing forces to jam. This contract runs through December 2013.
- Honeywell (NYSE:HON) won a $9 million contract to supply 121 advanced multipurpose displays for installation aboard Navy F/A-18E/F fighter jets and EA-18G electronic warfare aircraft. Delivery and installation should be complete by January 2015.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin and Raytheon Company. 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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