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Print Edition StoriesMonday, March 23, 2009
Raytheon lands $27M Boeing radar deal
By Brendan Lynch
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Raytheon Co. reports it has landed $27 million from the Boeing Co. for work on three radar systems for a missile defense program.
Under the contract, Raytheon (NYSE: RTN) will continue to develop and test the X-Band Radar, Upgraded Early Warning Radars Cobra Dane Upgrade Radar for Boeing’s Ground-Based Midcourse Defense program. Boeing is the prime contractor on the project.
Earlier this month, Raytheon was awarded a $128.1 million contract from the U.S. Army to provide software and hardware engineering, testing, systems analysis and logistics support for the Patriot Air and Missile Defense System. The deal calls for Raytheon to support Patriot systems in Saudi Arabia, Japan, Israel, Germany, The Netherlands, Kuwait, Spain, Greece, Taiwan, South Korea and the United Arab Emirates, in addition to the U.S.
Waltham-based Raytheon, with 72,000 employees, reported a 2008 net income of $1.7 billion on revenue of $23.2 billion.
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