Armor Holdings (AH) surged 6% Friday after the company said it got a government contract to provide body armor.
The Jacksonville, Fla., maker of security products and vehicle armor systems said the Defense Department deal covers three years and up to $461 million in orders on an indefinite delivery/indefinite quantity basis. Rival
rose 15% Friday on news that it's participating in the same program.
Armor Holdings said it would announce specific orders under the contract award as appropriate.
"We are pleased to have been named as a participant in this important program," said CEO Robert Schiller. "While the level of participation for Armor Holdings and for each of the other companies involved in this program has yet to be determined, we believe that our industry-leading capacity, position as the government's largest supplier under prior SAPI contracts, and our strong track record of performance for these programs, will lead to a meaningful share of this new program."
On Friday, Armor Holdings rose $1.96 to $36.20.