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Intervac Receives LIVAR Camera Orders From Northrop

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On Friday, small-cap solar power, hard disk drive, and digital imaging company Intevac (NASDAQ: IVAC  ) announced that it has won a sizable (for its size) contract from defense contracting giant Northrop Grumman (NYSE: NOC  ) .

Northrop has placed an additional $5.8 million worth of orders for Itevac's Laser Illuminated Viewing and Ranging, or LIVAR, digital cameras for use in airborne, long-range target identification. This order brings the total value of Northrop's indefinite delivery/indefinite quantity contract for the device to $24.8 million. The latest installment is expected to be delivered over the next 18 months.

Northrop uses the LIVAR as part of its LITENING self-contained multisensor weapon-aiming system, which is installed on such warplanes as the AV-8B Harrier, A-10A/C Warthog, F-15E, F-16, and F/A-18, as well as on the B-52H bomber and EA-6B Growler electronic warfare aircraft.

Intevac shares responded positively to the announcement, rising 0.9% in Friday trading to close at $4.68 per share.

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Related Tickers

9/23/2016 3:59 PM
IVAC $6.05 Down -0.04 -0.66%
Intevac CAPS Rating: No stars
NOC $217.05 Up +0.56 +0.26%
Northrop Grumman CAPS Rating: ****