Thursday was a very good day indeed to be a Lockheed Martin (NYSE:LMT) shareholder. Upon release of the Pentagon's daily issuance of new contract award announcements, it became apparent that Lockheed was one of the day's bigger winners, landing three clean contract wins and a piece of a fourth.
The biggest and most significant win for Lockheed was its receipt of a $223.3 million firm-fixed-price, Foreign Military Sales (FMS) contract to supply Modernized-Target Acquisition Designations Sight Pilot Night Vision Sensors to the Government of South Korea. Known by the cumbersome acronym "M-TADS/PNVS," these are advanced electro-optical fire control systems that AH-64D/E Apache attack helicopter pilots use to fly their helicopters and target their weapons systems in daylight, at night, and in adverse weather conditions.
In April, Boeing (NYSE:BA) confirmed that it had won a contract to supply the Korean military with 36 such AH-64E Apache attack helicopters (a $1.6 billion deal for Boeing). Today's contract win for Lockheed appears to be tied to that Boeing win.