Raytheon gets $14.6M Air Force deal |
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Tue, 08 May 2007 23:57
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WASHINGTON (AP) - The U.S. Air Force on Tuesday awarded a $14.6 million contact boost to a unit of Raytheon Co. to reduce risk on a decoy system.Raytheon's missile-system unit based in Tucson, Ariz., is developing an air-launched decoy aimed at foiling enemy air defense. Under the deal, Raytheon will extend testing to include ground and air on the Miniature Air-Launched Decoy.The defense contractor is expected to complete work by March 2008.Shares of Raytheon dropped 7 cents to $54.35 in extended trading, after shares dropped 35 cents to close at $54.42 in the regular trading session.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Raytheon gets $14.5M Air Force contract 