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

U.S. Air Force Awards Lockheed Martin Contract For Next Set Of Infrared Surveillance Satellites

Stocks in this article: LMT





SUNNYVALE, Calif., March 5, 2013 /PRNewswire/ -- The U.S. Air Force has awarded Lockheed Martin [NYSE: LMT] a $284.4 million fixed-price contract to procure long lead parts for the fifth and sixth Geosynchronous Earth Orbit (GEO) satellites in the Space Based Infrared System ( SBIRS) missile warning constellation.

Featuring a mix of GEO satellites, hosted payloads in highly elliptical earth (HEO) orbit, and associated ground hardware and software, the SBIRS program delivers resilient and improved missile warning capabilities for the nation while simultaneously providing significant contributions to the military's missile defense, technical intelligence and battlespace awareness mission areas.



Lockheed Martin previously received a contract to complete non-recurring engineering activities for GEO-5 and 6 and procure select long lead spacecraft parts enabling supplier production lines to deliver the lowest possible price for each component. This next phase authorizes the purchase of the remaining long lead spacecraft components. A final contract for full production under fixed-price terms will be awarded at a later date.

"This contract award is a testament to the importance of the SBIRS program and reinforces the government's confidence in our ability to produce these vital satellites efficiently going forward," said Jeff Smith, vice president of Lockheed Martin's Overhead Persistent Infrared (OPIR) mission area. "As we produce follow on SBIRS assets, we aim to continually reduce the cost and cycle time of each space vehicle to ensure we deliver critical and resilient infrared surveillance capabilities to the nation at the best value to the government."

Lockheed Martin's SBIRS contracts include four HEO payloads, four GEO satellites, and ground assets to receive, process, and disseminate the infrared mission data.  Under the new contract, the team will procure long lead parts for the fifth and sixth GEO satellites.

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 17,327.14 -89.71 -0.52%
S&P 500 2,010.02 -11.23 -0.56%
NASDAQ 4,674.7170 -8.69 -0.19%

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