Exelis Wins $102 Million Australian Navy Contract

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McLean, Va.-based Exelis has won a $102 million contract to supply the Royal Australian Navy with Electronic Support Measures (ESM) for its ANZAC frigates and Canberra class landing helicopter dock (LHD) warships.

Exelis describes its ES-3701 ESM as a system designed to detect radar signals emitted from aircraft and other surface ships, improving "situational awareness, targeting, self-protection and surveillance." The company noted further that the system is already being installed on Australia's new Hobart-class Air Warfare Destroyer.

Exelis shares are receiving no boost from the good news, however, falling 0.6% Thursday, to trade around $10.88.

The article Exelis Wins $102 Million Australian Navy Contract originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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