Titan Awarded $169M Navy Contract

Monday, February 24, 2003
The Titan Corporation has been awarded an indefinite-quantity, five-year U.S. Navy contract having a potential value of $169 million. Awarded by the Fleet Industrial Supply Center Norfolk, Detachment Philadelphia for the Naval Sea Systems Center (NAVSEA) Shipbuilding Support Office (NAVSHIPSO) in Philadelphia, the contract provides engineering and technical support services for modification of shipboard equipment and systems. This was a multiple award with five other firms receiving prime contracts under the award. "This award fortifies Titan's role as an important source for engineering and technical support for Navy programs," said Gene Ray, Titan's Chairman and CEO. "We are proud to be afforded the opportunity to continue our support of NAVSHIPSO's expanding role in modifying shipboard systems." Under the contract, Titan will provide a wide range of technical services for habitability, propulsion, electrical, auxiliary and electronics systems aboard all classes of U.S. Navy ships and watercraft. Last week, Titan reaffirmed it previously announced guidance of pro forma $.15 EPS for the fourth quarter of 2002. Today Titan reiterated that it remains comfortable with First Call's consensus of pro forma* EPS of $.65 for 2003. This translates to GAAP EPS of $.57 for 2003.
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Egypt on a War Footing to Expand Suez Canal

The Suez Canal Authority is in a race to quickly expand the vital waterway for two-way traffic by August 2015, says an Associate Press report. Workers dig round the clock on Suez Canal expansion,

ECO Orders Rolls-Royce Equipment for New AHTS

Rolls-Royce has been awarded a contract worth $30.6m with the American owner Edison Chouest Offshore (ECO). The contract for ship equipment comprises Azimuth main propulsion,

Seadrill: Rig Rates Have Not Bottomed

The market for oil and gas drilling rigs continues to deteriorate as oil companies cut back on investments, Seadrill Chief Financial Officer Rune Magnus Lundetrae

 
 
Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2009 sec (5 req/sec)