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 June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Hamburg Süd to Acquire CCNI Liner Service

Compañía Chilena de Navegación Interoceánica S.A. (CCNI) with headquarters in Valparaiso, Chile, and Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft KG (HSDG) with headquarters in Hamburg,

Asia VLCC Rates Could Nudge Higher on Activity

Rates for very large crude carriers (VLCCs) on key Asian freight routes could hold steady or gain next week as charterers seek to complete their vessel chartering

Star Bulk Takes Delivery of First Capesize from JMU

Athens, Greece-headquartered Star Bulk Carriers says it has taken delivery of 'M/V Peloreus' a 182,000 dwt Capesize built by Japan Marine United (“JMU”) and the

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Port Authority Salvage Ship Repair Ship Simulators Sonar Winch
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: 0.1673 sec (6 req/sec)