Todd Shipyards Corp.

• Public
• US

Dow Jones Description

We derive a significant portion of our revenues from work performed under our contracts with the Navy and the U.S. Coast Guard ("Coast Guard"). The Navy and the Coast Guard schedule work under such contracts at their convenience. We currently hold a Multi-Ship/Multi-Option cost-type contract ("CVN contract") for the non-nuclear repair work on the aircraft carriers home ported or stationed in Puget Sound. The Navy first awarded us the CVN contract in 1999 and we completed our second five-year contract during the third quarter of fiscal year 2009. During the second quarter of fiscal year 2009, the Navy awarded us a new five-year contract to continue our work on the aircraft carriers through 2013. On December 1, 2008 Washington State Ferries ("WSF") awarded us a $65.5 million firm fixed-price contract for the construction of one 64-auto ferry. The ferry, to be built in our Seattle shipyard, is scheduled to be delivered 18 months after the Notice to Proceed was issued by WSF on January 5, 2009. Our wholly owned subsidiary, Everett, is a major subcontractor on the project.

Number of Employees 550

Contact Information

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