On the final day of its fiscal year, the Department of Defense announced 95 separate defense contracts Monday, worth $5.526 billion in total. Lockheed Martin (NYSE:LMT), the nation's largest pure-play defense contractor, won seven of them:
- A $95.7 million contract modification making definite the U.S. Navy's fiscal 2012 AN/SQQ-89A(V)15 Surface Ship Undersea Warfare System production requirements and exercising an option to buy more of these systems before fiscal 2013 funding ran out. The AN/SQQ-89A(V)15 is a surface ship combat system used to search, detect, classify, localize, track, and kill undersea contacts. Delivery is due in December 2015.
- A new $48.6 million contract to provide flight operations and factories support for the Air Force's Highly Elliptical Orbit (HEO) and Geosynchronous Elliptical Orbit (GEO) on-orbit assets through Sept. 30, 2014.
- A new $44.7 million contract to supply the U.S. Navy with TB-37/U Multi Function Towed Array (MFTA) sonar receivers for use in conjunction with the AN/SQQ-89A(V)15 systems mentioned above. This contract should be completed by April 2015.
- A $23.2 million contract modification to extend Undersea Warfare (USW) Product Support across USW Systems (again, such as those discussed above). This contract runs through November 2013.
- A $16.5 million contract modification to conduct a sustainment support study, related to continued work on the Space-Based Infrared System's (SBIRS) ground systems assets by Sept. 30, 2015.
- A $13.1 million contract to provide the U.S. Army with spare parts and production technical data for the AN/TPQ-53 radar system.
- And finally, a not-to-exceed $6.6 million delivery order to repair parts used in the U.S. Navy's AN/UYQ-70 Advanced Display System used in tactical and command, control, and communications computers. Work is expected to be completed by October 2014.
In total, Lockheed's contract wins yesterday totaled nearly a quarter-billion dollars -- $248.4 million.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. 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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