TUCSON, Ariz. (AP) — Raytheon Co. said Wednesday it received a $93 million U.S. Navy contract for Standard Missile-6 systems, spare parts and containers. The defense contractor said it was the first of several planned contracts.
Raytheon said delivery of the products will start in early 2011.
The missile systems will provide a defense against fixed- and rotary-wing aircraft, unmanned aerial vehicles and anti-ship cruise missiles, according to the company.
Shares of Raytheon rose 27 cents to $46.56 in morning trading.