On Friday, small-cap solar power, hard disk drive, and digital imaging company Intevac (NASDAQ:IVAC) announced that it has won a sizable (for its size) contract from defense contracting giant Northrop Grumman (NYSE:NOC).
Northrop has placed an additional $5.8 million worth of orders for Itevac's Laser Illuminated Viewing and Ranging, or LIVAR, digital cameras for use in airborne, long-range target identification. This order brings the total value of Northrop's indefinite delivery/indefinite quantity contract for the device to $24.8 million. The latest installment is expected to be delivered over the next 18 months.
Northrop uses the LIVAR as part of its LITENING self-contained multisensor weapon-aiming system, which is installed on such warplanes as the AV-8B Harrier, A-10A/C Warthog, F-15E, F-16, and F/A-18, as well as on the B-52H bomber and EA-6B Growler electronic warfare aircraft.
Intevac shares responded positively to the announcement, rising 0.9% in Friday trading to close at $4.68 per share.