Raytheon Wins $38.6 Million in Missile, SIGINT Contract Awards
The Department of Defense issued $312.5 million worth of new contract awards on Monday. Of these, a single company -- Raytheon -- won more than 12% of the money on offer.
Specifically, Raytheon landed two DOD contracts:
The smaller of the two awards went to Raytheon's Missile Systems division, which was awarded $8.6 million as a modification to a previously awarded cost-plus-fixed-fee contract to support the Phase II AIM-9X air-to-air missile System Improvement Program for the Air Force, Navy, and the government of Saudi Arabia. Approximately 84% of the work will be performed for the U.S. Air Force and Navy. The remaining 16% will be done for the Saudis under the Foreign Military Sales Program. Raytheon's work should be complete by March 2014.
Raytheon also won a larger $30 million cost-plus-fixed-fee and cost-only modification to a previously awarded contract to provide design and engineering services in support of the U.S. Navy's Cooperative Engagement Capabilities (CEC) program. The CEC is a "sensor netting" system that distributes SIGINT to all parties involved in collecting portions of it, improving situational awareness throughout a battle group. Raytheon's work on the project runs through Sept. 2013.
The article Raytheon Wins $38.6 Million in Missile, SIGINT Contract Awards originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Raytheon. 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.