Harris Awarded Up to $500 Million in Radio Contracts

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On Tuesday, the Department of Defense announced it has awarded defense contractor Harris (NYSE: HRS  ) a firm-fixed-price contract valued at up to $500 million in total.

The contract modifies a previously awarded contract ordering Harris to supply "radios, support equipment, data, and services" to the U.S. Army. It raises the ceiling on the total value of radios that can be ordered from Harris, through multiple separate orders, to the $500 million maximum value of the contract. Work on the contract is to be performed by Dec. 15, 2015.

The Pentagon's announcement today did not specify exactly which contract is being modified, or which product ordered. Harris supplies the Army with multiple types of radios for multiple purposes. In recent months, the company has announced particularly heavy demand for its Falcon II and Falcon II radio systems.

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9/29/2016 4:02 PM
HRS $90.61 Down -1.34 -1.46%
Harris CAPS Rating: ****