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Raytheon Wins $39 Million in Pentagon Tech, Bomb Contracts

Just ahead of the Easter weekend, the U.S. Department of Defense doled out $3.6 billion in new weapons and support contracts to its contractors. Of the several recipients, Raytheon (NYSE: RTN  ) took in less money than most -- but only in relative terms. The two contracts it pulled down Friday, worth a combined $38.9 million, included:

  • A $7.5 million firm-fixed-price modification to a previously awarded contract for its Integrated Defense Systems unit, funding production of ship self-defense system open architecture OL-782(V) network switching cabinets to be installed on a number of vessels: CVN 72 (the nuclear aircraft carrier USS Abraham Lincoln), LSDs 44, 50, and 52 (the dock landing ships USS Gunston Hall, USS Carter Hall, and USS Pearl Harbor, respectively), and also at the Naval Surface Warfare Center's Integrated Combat System Testing Facility, the Wallops Island Land Based Test Site, and the Raytheon Software Integration Lab. Work on this contract should be complete by October 2014.
  • A larger, $31.4 million award to supply 396 GBU-49 and 96 GBU-50 Advanced Paveway II GPS-equipped guided bombs, 20 inert GBU-49 training rounds, and 20 more inert GBU-50 training rounds. Raytheon will deliver these munitions by Dec. 31, 2018.

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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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9/2/2015 4:04 PM
RTN $103.38 Up +3.34 +3.34%
Raytheon Company CAPS Rating: ****