Kaman Corporation (NASDAQ-GS:KAMN) announced today that its Aerospace segment has been awarded a contract modification in the amount of $23.8 million for the procurement of Joint Programmable Fuzes (JPF). The award is the first under Option 8 of Kaman's JPF contract with the U.S. Air Force. Delivery of these fuzes is anticipated to occur in 2012 and 2013.
"This award raises total JPF orders in the last twelve months to $150 million and secures our backlog of $151.7 million into 2013. The order activity we have experienced in the last year demonstrates the importance of the JPF's high reliability and operational flexibility that is critical to the U.S. and allied militaries around the world," commented Greg Steiner, President of Kaman Aerospace Group.
Related Research on ASDReports.com: