The Pentagon continues stocking up on new bombs, and Raytheon (NYSE:RTN) is happy to help them out with that.
On Wednesday, the defense contractor won yet another order for AGM-154C-1 Joint Standoff Weapons (JSOW) from the Navy. This order, for 200 units of Full Rate Production Lot 9 of the JSOW, is worth $80.5 million to Raytheon. In addition to the armed versions, Raytheon is also asked to deliver one test-round, a single JSOW for use in a "performance characterization test."
The JSOW is a Raytheon-designed 1000-lb. "glide bomb." Dropped from a fighter at high altitude, it can travel as far as 78 miles to strike a target, guided en route by GPS signals.
Raytheon is expected to complete work on this order by July 2015.
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