logo
  Join        Login             Stock Quote

Lockheed Martin (LMT) Receives U.S. Army Contract

 January 17, 2013 12:18 PM
 


(By Balaseshan) Lockheed Martin Corp. (NYSE: LMT) said it has received Apache M-TADS/PNVS performance based logistics contract from the U.S. Army.

Lockheed Martin has received a Performance Based Logistics (PBL) contract worth $90.6 million from the U.S. Army for sustainment of the Modernized Target Acquisition Designation Sight/Pilot Night Vision Sensor (M-TADS/PNVS) system.

The firm, fixed price contract provides a comprehensive sustainment solution that enables mission readiness, reduces operation and support costs, and drives reliability and maintainability improvements. This is the first of three options under the $111 million PBL contract awarded in 2012. The total four-year contract value is $375 million.

[Related -Lockheed Martin Corporation (NYSE:LMT): How A Small Budget Deal Impacts Defense Contractors?]

M-TADS/PNVS is the advanced electro-optical fire control system that Apache helicopter pilots use for safe flight in day, night or bad weather missions. It provides Apache pilots with long-range precision engagement and flying capabilities.

In a separate release, the company said its family of Joint Light Tactical Vehicles (JLTV) successfully completed a top-to-bottom government design review in late December, well ahead of the first Engineering and Manufacturing Development (EMD) JLTVs that will begin rolling off the assembly line this spring.

The Design Understanding Review, which was held December 18 through 20, assessed all elements of Lockheed Martin's JLTV design and confirmed its overall maturity and requirements compliance.

[Related -Lockheed Martin Corporation (LMT): iStock's #1 Growth And Income Stock]

In August 2012, Lockheed Martin received a $65 million contract from the Army and Marine Corps to continue developing its JLTV design through the EMD phase. Assembly of the first EMD JLTVs is under way at BAE Systems' military-vehicle manufacturing plant in Sealy, Texas.

LMT is trading up 0.66% at $94.17 on Thursday. The stock has been trading between $80.14 and $95.92 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageCrude Rebound

Since the price of crude oil broke below $90 per barrel in September, the Brent global benchmark has been read on...

article imageShould You Invest In The Hottest New Trend In Finance?

Thanks to major changes in regulation, social media and technology, the business of banking has undergone read on...

article imageStrong Attractor in Action Pulling S&P 500 Down

The attractor is formed by the 200-day moving average and the 50% Fibonacci retracement of the up move from read on...

article imageIs The Weak Housing Market A Warning Sign For The US Economy?

Today’s US economic releases – housing starts and business survey data for the manufacturing sector – read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Jobs Growth Tepid At Best
More Articles on: Aerospace



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.