Showing that private sector workers aren't the only ones who have trouble "ramping back up" after a holiday, the Department of Defense eased back into its awarding of contracts the day after the July 4.
DoD issued a grand total of three -- yes, three -- contracts Friday, and one of those went to privately held TRI-COR Industries. As for the two contracts going to publicly traded companies, those were for:
- $134 million: A cost-plus-incentive-fee modification to a previously awarded advance acquisition contract awarded to United Technologies (NYSE:UTX) to support Low Rate Initial Production Lot VI of the Joint Strike Fighter F135 Propulsion System -- that's the Pratt & Whitney engine that power's Lockheed's F-35 fighter jet. Engines included in this production "lot" are destined for the U.S. Air Force, Navy, and Marine Corps, as well as for the militaries of Italy, the U.K., Turkey, Australia, the Netherlands, Canada, Norway, and Denmark. UTC is expected to complete work on this contract by December 2015.
- $10.8 million: Going to BAE Systems (NASDAQOTH:BAESY) under a 56-calendar day, firm-fixed-price contract to perform dry dock work on the Military Sealift Command's dry cargo/ammunition ship USNS Carl Brashear (T-AKE 7). Optional work under this contract, if exercised by the Navy, could increase the value of this contract to as much as $12.3 million, and extend it past its expected Sept. 25, 2013 completion date.
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