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Tuesday, April 28, 2009

Raytheon nets $14.8M for missile testing, services

By Brendan Lynch

Raytheon Co. has landed $14.8 million from the U.S. Army for testing, maintenance and repair services for Patriot missile systems, according the U.S. Department of Defense.

Under the deal, the Waltham-based defense giant will perform clean-up, repair and maintenance on the missiles, including services required to keep missiles located in the United States, southwest Asia, Germany and Korea operable.

Work on the deal will be performed in Andover; Killeen, Texas; El Paso, Texas; Fayetteville, N.C.; and Lawton, Okla.; as well as in Korea, Qatar, Germany, Japan and Kuwait. Work on the deal is expected to be completed by June 2010.

Last week, Raytheon (NYSE: RTN) landed $245.7 million in two deals from the U.S. Army and the U.S. Navy.

Under one deal, Raytheon’s Tewksbury-based Integrated Defense Systems unit brought in $217 million from the Navy for radar systems for the Zumwalt class destroyer program and the USS Gerald R. Ford. Under the second deal, IDS landed $28.7 million from the Army for its rapid aerostat initial deployment (RAID) systems. RAID systems are tower-based sensor systems for surveillance.

Earlier this month, the company brought in $27 million from the Army’s Aviation and Missile Command for engineering services for the Patriot missile.

Raytheon, with 72,000 employees, reported a 2008 net income of $1.7 billion on revenue of $23.2 billion.

 

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