DRS gets initial order under $101 million military contract

The contract was awarded to DRS by Raytheon Co., the main contractor for the program, DRS said.

The work, which is expected to begin immediately, will be performed by the military contractor's sensors and targeting systems unit in Melbourne, Fla.

The advanced scout surveillance system is a multisensor infrared system allowing real-time detection, recognition, identification and location of distant targets.

DRS said it will provide subassemblies including forward-looking infrared systems and integrated optical benches.

DRS shares rose $1.19, or 2 percent, to $61.98 in afternoon trading. Earlier in the session shares set a 52-week high of $62.20.