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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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Rich Smith
TMFDitty

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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Related Tickers

9/4/2015 3:59 PM
IVAC $4.72 Up +0.13 +2.83%
Intevac, Inc. CAPS Rating: ***
NOC $162.30 Down -2.35 -1.43%
Northrop Grumman C… CAPS Rating: *****