Manufacturing

Lockheed Gets Pakistan Radar Deal

 

The U.S. Air Force awarded Lockheed Martin (LMT) an $89 million contract to provide six long-range transportable radar systems for Pakistan.

Under the foreign military sale contract, Lockheed Martin will provide the mobile radar systems; support equipment; spare and repair parts; publications and technical data; personnel training and equipment; and logistical support services.

"The new radars will provide more responsive and timely information for Pakistani air defense operations, and the mobility of the AN/TPS-77 will also allow Pakistan to quickly redeploy the systems as needed," said James Fosnaugh, Lockheed Martin's director for Ground Based Radar.

The AN/TPS-77 is the latest configuration of the world's most successful three-dimensional (3-D) solid-state radar design, the AN/FPS-117. This L-band, tactical radar provides continuous high-quality 3-D surveillance on air targets at ranges out to 280 miles and at elevations up to 100,000 feet. Including these six radars now under contract, 33 AN/TPS-77 radar sets have been produced to date. In addition, there are 127 AN/FPS-117 systems (the fixed land-based version) operational in 14 countries. Many have operated for years in remote areas, completely unmanned and in a wide range of operational environments.

On Tuesday, Lockheed rose 4 cents to $59.72.

>To order reprints of this article, click here: Reprints

TheStreet Premium Services

Jim Cramer
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn More
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
Dow Jones S&P 500 NASDAQ 10-Year Note
12,504.48 1,315.99 2,847.21 17.35
Oil *
109.36
UP
135.10
UP
20.77
UP
68.42
UP
0.33
10 Yr
1.74%
SPDR Gold
154.65
+1.09%
+1.60%
+2.46%
+1.94%
Data delayed 20 minutes

Top Stories and Tools

Articles From

After the Bell

Before the Bell

Booyah! Newsletter

ETF Daily

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy.
Podcasts

Connect with TheStreet