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US Navy Awards Raytheon $169 M for DDG 1000 Program

Raytheon Company (NYSE: RTN) is being awarded a not-to-exceed $169 million modification to previously awarded fixed-price incentive, cost-plus-fixed-fee contract for deferred mission systems equipment for DDG 1000 and DDG 1001, scheduled critical DDG 1002 non-hatchable mission systems equipment, and non-recurring engineering applicable to mission system equipment design and development. The Naval Sea Systems Command, Washington, D.C., is the contracting activity.

The contract was announced by the Department of Defense on Dec. 28, 2012, and was awarded in Raytheon's fourth quarter.

Source : Raytheon Corporation (NYSE: RTN)

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Published on ASDNews: Dec 31, 2012