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Raytheon gets $678M gov't contract for radar work

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By AP
01 October 2008 @ 11:48 am EST

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WASHINGTON - The Department of Defense and Federal Aviation Administration have awarded a $679 million contract to Raytheon Co. for airport radar systems.

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RTN

47.94

2.43

The contract, announced Tuesday, is for 116 Digital Airport Surveillance radar systems that will be installed at Air Force and civilian airfields worldwide. They will replace current radar systems that are nearly 30 years old.

Shares of Waltham, Mass.-based Raytheon added 2 cents to $53.53 in late-morning trading Wednesday.

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