Raytheon Wins 3 Defense Contracts Thursday

The Department of Defense awarded 16 separate defense contracts Thursday, worth $388.2 million in total. Raytheon (NYSE: RTN  ) was the big winner of the day, bagging no fewer than three of the contracts on offer:

  • A $12.8 million firm-fixed-price contract to supply the U.S. Navy with 16 turret units and eight electronics units for the Multi-Spectral Targeting Systems aboard Navy MH-60 Seahawk helicopters. This system is an airborne, electro-optic, forward-looking infra-red, turreted sensor package that supports long-range surveillance, high-altitude target acquisition, tracking, range-finding, and laser designation for HELLFIRE missiles, and for other tri-service and North Atlantic Treaty Organization laser-guided munitions. Delivery is due July 2015.
  • A $10 million firm-fixed-price contract to supply the U.S. Air Force with 10 of these same Multi-Spectral Targeting Systems for use aboard Air Force HC-130J Combat King II search-and-rescue aircraft and MC-130J special ops Commando II aircraft. Delivery of these systems is due April 2015.
  • A $7.3 million modification of a foreign military sales contract to provide technical assistance to the United Arab Emirates' (UAE) Hawk Missile System program through Feb. 28, 2015.

In unrelated news, smaller defense contractor Leidos (NYSE: LDOS  ) won a $7.8 million sole-source, firm-fixed-price contract to provide systems engineering and integration support for the U.S. Air Force's GPS Directorate through Sept. 2, 2014.


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