US Navy awards Raytheon $169 million for DDG 1000 program

TEWKSBURY, Mass., Dec. 31, 2012 /PRNewswire/ -- Raytheon Company (NYSE: RTN) is being awarded a not-to-exceed $169 million modification to previously awarded fixed-price incentive, cost-plus-fixed-fee contract for deferred mission systems equipment for DDG 1000 and DDG 1001, scheduled critical DDG 1002 non-hatchable mission systems equipment, and non-recurring engineering applicable to mission system equipment design and development. The Naval Sea Systems Command, Washington, D.C., is the contracting activity. 

The contract was announced by the Department of Defense on Dec. 28, 2012, and was awarded in Raytheon's fourth quarter.

About Raytheon
Raytheon Company, with 2011 sales of $25 billion and 71,000 employees worldwide, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 90 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @raytheon.

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SOURCE Raytheon Company