Atlanta, GA 7/7/2009 2:40:18 AM
News / Business

Raytheon (NYSE: RTN) Wins Homeland Security Contract

Raytheon Company (NYSE: RTN) has received a $1.2 million contract from the Department of Homeland Security, according to reports Monday.


The contract will allow Raytheon to research radiation technology for the government agency.


The follow-on contract is the second part of a five-phase program worth a total of $2.9 million. Raytheon will develop strategies to address the challenge of nuclear radiation detection.


This is the third government contract the defense company has secured in two months. In May, the company earned 5-year Battle Command Development contract with the U.S. Army worth $777.4 million.


The week before, Raytheon was awarded a contract worth $259.9 million by the US Navy to overhaul and upgrade 57 Phalanx close-in weapon systems.


Shares in Raytheon stock moved up 18 cents (0.43%) to $43.19 in late afternoon trading.




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