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Print Edition StoriesThursday, September 10, 2009
PerkinElmer gets $15M for better atomic clock in GPS satellites
By Rodney H. Brown
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A division of Waltham-based PerkinElmer Inc. has landed a $15 million subcontract to help improve the atomic clock technology it provides for the Global Positioning System satellites.
The Salem-based illumination business unit of PerkinElmer (NYSE: PKI) was awarded the subcontract from ITT Corp.’s Space Systems Division to design and deploy various engineering advances for PerkinElmer’s Rubidium Atomic Frequency Standards for the next version of the GPS satellites. The first two satellites in the new group from prime contractor Lockheed Martin are expected to be launched by 2014.
Lockheed Martin’s main contract is valued at an initial $1.4 billion and calls for 10 additional satellites. ITT is providing the technology navigation payload, which provide the satellite with position, navigation and timing services. PerkinElmer’s RAFS atomic clock is an integral part of the ITT system, company officials said.
Earlier this week, PerkinElmer reported it expanded its prenatal and neonatal diagnostic offerings globally by acquiring Shanghai-based diagnostics supplier SYM-BIO Lifescience for about $63.7 million.
In April, PerkinElmer announced the appointment of new CFO Frank Wilson, who also serves as the company’s senior vice president and chief accounting officer. The position, company officials said, would give Wilson overall leadership responsibility for the strategy and operations of PerkinElmer’s finance and control operations.
PerkinElmer reported revenue of approximately $2 billion in 2008 and a profit of $126 million. It has some 8,500 employees with customers in over 150 countries.
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