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Raytheon Wins a Mysterious Defense Contract

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Over the past two days, defense contractor Raytheon (NYSE: RTN  ) has won a pair of Department of Defense contracts -- one of considerable size, and the other of considerable mystery.

The big contract Raytheon won this week was actually a firm-fixed-price contract "modification," exercising an option under a larger contract to supply the U.S. Missile Defense Agency with AN/TPY-2 advanced mobile radar systems.

A phased array, X-band radar, AN/TPY-2 forms an integral part of America's Ballistic Missile Defense System, where it is used for threat "surveillance, interceptor track, in-flight data uplink/downlink, target classification/ typing/ identification, and intercept assessment" functions. In the instant contract, Raytheon will receive $8.2 million to supply MDA with one AN/TPY-2 prime power unit. Added to the main contract award, this brings Raytheon's take on the work to a whopping $580.2 million.

Raytheon's more interesting contract win, however, came from the mysterious DARPA -- the Defense Advanced Research Projects Agency. On Thursday, DARPA awarded Raytheon $21.6 million under a cost-plus-fixed-fee contract to do ... something. As the Pentagon's contract announcement states: "The statement of work for this effort is classified."

Sure, they could tell you what the contract's for. But then they'd have to kill you -- probably with a drone strike.

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Rich Smith

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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10/9/2015 4:05 PM
RTN $111.46 Down -0.19 -0.17%
Raytheon Company CAPS Rating: *****