Single reflector, no cover for the bulbs, and no bulbs included at that price. Hagen also not the highest end mfr (stuff is normally made by a contracted outfit of the week).
There is a dual bulb Current with individual reflectors (http://www.tscpets.com/cuusanoext5x3.html), and a dual bulb AquaticLife with individual reflectors (http://www.tscpets.com/aq36t5ho2laf.html) which I would suggest are "better" options.
I use Current mostly, need to try the AquaticLife at some point (I find the "connect together" geeky enough to be interesting, just not interesting enough yet to click off on buying a couple).
However, if you can justify the extra cost, jump up a bit and go 4 bulb -- http://www.saltysupply.com/36-Current-USA-Nova-Extreme-T5-HO-4-x-39-watt-p/cu01121.htm