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Raytheon Wins Contract to Build the President's Phone Network

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The Department of Defense awarded Raytheon (NYSE: RTN  ) two contracts on Monday worth a combined $48.2 million.

In the larger of the two awards, Raytheon's Company Network Centric Systems unit will receive $34 million as a contract modification funding continued development and testing of engineering development models for air and ground fixed and transportable "command post terminals" for the Presidential and National Voice Conferencing (PNVC ) communications system. PNVC is "a satellite-based, worldwide, survivable, secure, and near toll-quality voice conferencing capability for the President, Secretary of Defense, Chairman, Joint Chiefs of Staff, and other senior national/military leaders." Work on this contract should be completed by October 2013.

Raytheon's smaller award gives its Integrated Defense System unit a $14.2 million cost-plus-fixed-fee delivery order to upgrade the Navy's AN/AQS-20A mine hunting sonar with high-frequency, wide-band, forward-looking sonar and multi-function side-looking sonar and associated components. Raytheon will work on this contract through September 2014.


 

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Rich Smith
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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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9/1/2015 9:57 AM
RTN $101.17 Down -1.39 -1.36%
Raytheon Company CAPS Rating: ****