Software
Computer Sciences (CSC - Cramer's Take - Stockpickr) said Monday it was awarded part of a $422 million mission support services deal with the U.S. Army. The two-year contract, with four two-year options, was awarded to the New Mexico Technology Group (NewTec), a joint venture owned by CSC, Lockheed Martin (LMT - Cramer's Take - Stockpickr), Northrop Grumman (NOC - Cramer's Take - Stockpickr) and TRAX International. CSC holds 47% of the voting shares of the venture and will recognize that percentage of NewTec's profit but will not consolidate the joint venture's revenue, the company said. NewTec will operate and maintain test facilities, develop instrumentation and support field and laboratory testing at White Sands Missile Range and the 46th test group high speed test track at Hollman Air Force Base in New Mexico. The deal follows an earlier contract signed between NewTec and WSMR in 1997. CSC shares shed 34 cents to $53.25 in recent trading.
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