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Business, Finance, Occupation & Industry

Raytheon Wins $70.5 Million in New Missile Contracts

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By Rich Smith, The Motley Fool

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On a slow day for Defense Department awards, Raytheon  (NYS: RTN) made out pretty well on Thursday, scoring a pair of Pentagon contracts worth a combined $70.5 million.

The larger of the two awards, weighing in at a hefty $49.9 million, came in the form of a modification to a sole-source cost-plus-fixed-fee contract to perform engineering work on Standard Missile-3 Block IB — its second such award in as many months. SM-3IB is the latest version of Raytheon’s Standard surface-to-air missile and aims to enhance the original’s effectiveness with enhanced, two-color infrared target seeking and the use of short bursts of precision propulsion to steer the missile toward incoming targets. The SM-3IB is expected to go into service in 2015, and Raytheon’s work on the instant contract will be completed by Dec. 31, 2013.

Raytheon’s other contract of the day, worth $20.6 million, was a modification to a previously awarded firm-fixed-price contract to procure tube-launched, optically tracked, wireless-guided missiles. To date, and counting this latest modification, this original contact has been modified so as to raise its cumulative value to nearly $203 million.

The article Raytheon Wins $70.5 Million in New Missile Contracts originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Raytheon Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

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Business, Finance, Occupation & Industry

Raytheon Wins $39 Million in Pentagon Tech, Bomb Contracts

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By Rich Smith, The Motley Fool

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Just ahead of the Easter weekend, the U.S. Department of Defense doled out $3.6 billion in new weapons and support contracts to its contractors. Of the several recipients, Raytheon took in less money than most — but only in relative terms. The two contracts it pulled down Friday, worth a combined $38.9 million, included:

  • A $7.5 million firm-fixed-price modification to a previously awarded contract for its Integrated Defense Systems unit, funding production of ship self-defense system open architecture OL-782(V) network switching cabinets to be installed on a number of vessels: CVN 72 (the nuclear aircraft carrier USS Abraham Lincoln), LSDs 44, 50, and 52 (the dock landing ships USS Gunston Hall, USS Carter Hall, and USS Pearl Harbor, respectively), and also at the Naval Surface Warfare Center’s Integrated Combat System Testing Facility, the Wallops Island Land Based Test Site, and the Raytheon Software Integration Lab. Work on this contract should be complete by October 2014.
  • A larger, $31.4 million award to supply 396 GBU-49 and 96 GBU-50 Advanced Paveway II GPS-equipped guided bombs, 20 inert GBU-49 training rounds, and 20 more inert GBU-50 training rounds. Raytheon will deliver these munitions by Dec. 31, 2018.

The article Raytheon Wins $39 Million in Pentagon Tech, Bomb Contracts originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Raytheon. Try any of our Foolish newsletter services free for 30 days. We Fools don’t all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

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