Raytheon Gets $32M U.S. Navy Contract
TEWKSBURY, Mass. (AP) — Defense contractor Raytheon Co. said Wednesday it received a $32.2 million contract from the U.S. Navy to design and develop a GPS-based system that coordinates a variety of systems on Navy ships.
The program will support real-time positioning, navigation, and timing data services, including weapons, combat systems, and other command, control, communications and intelligence systems, Raytheon said.
In afternoon trading, Raytheon shares fell $1.77, or 4.3 percent, to $39.40 in a broadly declining market.