Raytheon Wins $80 Million Glide-Bomb Contract
The Pentagon continues stocking up on new bombs, and Raytheon is happy to help them out with that.
On Wednesday, the defense contractor won yet another order for AGM-154C-1 Joint Standoff Weapons (JSOW) from the Navy. This order, for 200 units of Full Rate Production Lot 9 of the JSOW, is worth $80.5 million to Raytheon. In addition to the armed versions, Raytheon is also asked to deliver one test-round, a single JSOW for use in a "performance characterization test."
The JSOW is a Raytheon-designed 1000-lb. "glide bomb." Dropped from a fighter at high altitude, it can travel as far as 78 miles to strike a target, guided en route by GPS signals.
Raytheon is expected to complete work on this order by July 2015.
The article Raytheon Wins $80 Million Glide-Bomb Contract 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.