RESTON, Va., Jan. 10, 2019 /PRNewswire/ -- Leidos (NYSE: LDOS), a FORTUNE® 500 science and technology leader, was awarded a contract by the U.S. Navy's Naval Sea Systems Command to develop torpedo countermeasure technologies for submarine defense. The single award, cost-plus-fixed-fee contract has a two-year base period of performance, three one-year option years, and a potential value of approximately $36 million, if all options are exercised. Work will be performed in Washington, Northern Virginia, Ohio, California, and Florida.
Leidos will design, build, and test an acoustic device countermeasure (ADC) called the ADC MK5 – a three-inch diameter device launched from submarines to defend against incoming torpedoes. The company will also provide technical and non-recurring engineering services such as software and hardware development. The project is part of the Navy's Next Generation Countermeasure program to replace existing ADC MK3 systems with newer technologies.
"We employ a different mindset on how to keep up in a dynamic and rapidly changing defense environment where world class systems are the only option for our defense customers to accomplish their missions," said Leidos Defense Group President, Gerry Fasano. "This win opens a new market for our organization in underwater sensors, and our focus is to provide the right combination of technical depth and customer insight to deliver the right solutions within challenging operational environments."
Leidos is a Fortune 500® information technology, engineering, and science solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, homeland security, civil, and health markets. The company's 32,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $10.17 billion for the fiscal year ended December 29, 2017. For more information, visit www.Leidos.com.
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the company's Annual Report on Form 10-K for the period ended December 29, 2017, and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.