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Raytheon Wins Defense Contracts for Missiles, FLIR Kits, and Spare Parts

As the clock ticks down toward the end of the Pentagon's fiscal year, Department of Defense acquisitions specialists have thrown caution to the wind -- and announced a simply mind-boggling 113 separate contract awards on Friday. Worth a combined $10.92 billion, this single day's spending came close to equaling two weeks' worth of contract awards at any other time of the year.

Of the defense contracts awarded, Raytheon (NYSE: RTN  ) won three:

  • A $243.5 million contract modification to supply the U.S. Navy with 89 Standard Missile-6 Block I All Up Rounds, plus necessary spare parts, containers, and services by March 2016.
  • A $20 million firm-fixed-price delivery order to supply the Navy with 30 Forward Looking Infrared Radar, or FLIR, kits for use aboard five Sikorsky CH-53K Super Stallion helicopters and 25 HH-60 Pave Hawk helicopters, plus 25 L2G multifunction control units and 35 L2G system control units for the HH-60 helicopters; two Memory Loader Verifier System cables, plus software update, system integration, and test support for the CH-53K helicopters; one technical data package; and a repair of repairables analysis. All of this should be completed by September 2015.
  • A $12.4 million contract modification to supply Navy depot-level maintenance facilities with unspecified spare parts by November 2015. 

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8/26/2016 4:02 PM
RTN $140.92 Down -0.86 -0.61%
Raytheon CAPS Rating: ****