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Raytheon Co. reports it has landed $17.2 million from the U.S. Army to upgrade Patriot Missile Systems for the government of South Korea.
Under the Foreign Military Sales contract, Raytheon (NYSE: RTN) will provide power supply equipment and communications equipment to South Korea. Raytheon will provide a Prime Power Unit — a trailer-mounted 1.3MW generator — as an alternative power source for the missile system. The communications upgrades are intended to enhance the missile system’s interoperability with air defense command centers.
Work on the contract will be performed at Raytheon IDS’ Integrated Air Defense Center in Andover, and at facilities belonging to Raytheon subcontractors in South Korea.
More about Raytheon
Raytheon brought in $131 million in two deals on Monday from the U.S. Navy for engineering on destroyers. IDS landed $84.4 million after the Navy exercised an option on a previously awarded contract for testing mission systems equipment on the DDG 1000 Zumwalt Class destroyer program. IDS also took in $46.6 million when the Navy exercised another option on a previously won contract for design services on Zumwalt Destroyers.
Raytheon reported a net income of $490 million on revenue of $6.2 billion for the quarter ended Sept. 27.
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