This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Northrop Grumman's E-2D Advanced Hawkeye Approved For Full-Rate Production

Stocks in this article: NOC

BETHPAGE, N.Y., Feb. 11, 2013 /PRNewswire/ -- The E-2D Advanced Hawkeye, designed and manufactured by Northrop Grumman Corporation (NYSE: NOC), has been approved to enter full-rate production by the Office of the Secretary of Defense (OSD). This decision follows a report where the E-2D was declared operationally suitable and effective, following a successful 10-month initial operational test and evaluation (IOT&E) conducted by the U.S. Navy.

(Logo: http://photos.prnewswire.com/prnh/20121024/LA98563LOGO)

A photo accompanying this release is available at http://media.globenewswire.com/noc/mediagallery.html?pkgid=17085.

"With the Navy's E-2D program of record at 75 aircraft, this decision by OSD enables the production of the remaining 55 aircraft over the next 10 years and provides the opportunity for a cost-effective, multiyear procurement," said Bart LaGrone, vice president, E-2/C-2 programs, Northrop Grumman Aerospace Systems. "The entire Northrop Grumman-led E-2D industry team remains focused on providing the most capable and cost-effective airborne early warning and command and control solution to our customer."

"Our Navy and Northrop Grumman team continues to deliver on our promises," said Capt. John S. Lemmon, E-2/C-2 Airborne Tactical Data System Program Office (PMA-231) program manager. "I'm confident we will meet our ultimate goal to provide a capable and ready fleet with E-2Ds as we prepare for the first deployment in 2015."

Conducted by the U.S. Navy's Air Test and Evaluation Squadron One, IOT&E is a rigorous phase of testing that every new system undergoes to determine that it is operationally effective and suitable for fleet introduction. A successful IOT&E is a key factor leading to a successful full-rate production decision and is a necessary step leading to a multiyear procurement.

LaGrone continued, "An operationally suitable and effective rating confirms that the E-2D is a mature airborne early warning and battle management, command and control system, capable of providing critical force protection for carrier strike groups and coalition forces."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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.
Submit an article to us!

Markets

DOW 17,217.25 -169.96 -0.98%
S&P 500 2,005.77 -23.78 -1.17%
NASDAQ 4,645.9510 -35.5460 -0.76%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs