Tuesday, March 25, 2008

Raytheon pinged for $24M more in sonar deals

Raytheon Co. has landed two orders worth almost $24 million from the U.S. Navy.

Under the orders, Raytheon Integrated Defense Systems will provide components for an airborne low-frequency sonar system for the MH-60R helicopter. Work will be performed at Raytheon's Seapower Capability Center in R.I.

This month, Raytheon (NYSE: RTN) had racked up $75 million in Navy orders relating to sonar mine locaters and mine neutralizers used in helicopters, not including these latest two orders.

Raytheon IDS, based in Tewksbury, is a business unit of Raytheon Co., based in Waltham.

Raytheon employs 72,000 people worldwide, and reported a 2007 net income of $3.5 billion on revenue of $21.3 billion.