Raytheon Wins $38.6 Million in Missile, SIGINT Contract Awards

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The Department of Defense issued $312.5 million worth of new contract awards on Monday. Of these, a single company -- Raytheon (NYSE: RTN  ) -- won more than 12% of the money on offer.

Specifically, Raytheon landed two DOD contracts:

The smaller of the two awards went to Raytheon's Missile Systems division, which was awarded $8.6 million as a modification to a previously awarded cost-plus-fixed-fee contract to support the Phase II AIM-9X air-to-air missile System Improvement Program for the Air Force, Navy, and the government of Saudi Arabia. Approximately 84% of the work will be performed for the U.S. Air Force and Navy. The remaining 16% will be done for the Saudis under the Foreign Military Sales Program. Raytheon's work should be complete by March 2014.

Raytheon also won a larger $30 million cost-plus-fixed-fee and cost-only modification to a previously awarded contract to provide design and engineering services in support of the U.S. Navy's Cooperative Engagement Capabilities (CEC) program. The CEC is a "sensor netting" system that distributes SIGINT to all parties involved in collecting portions of it, improving situational awareness throughout a battle group. Raytheon's work on the project runs through Sept. 2013.

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