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

Lockheed Martin Conducts Successful PAC-3 Missile Flight Test At White Sands Missile Range









DALLAS, Aug. 15, 2013 /PRNewswire/ -- Lockheed Martin [NYSE: LMT] conducted a successful PAC-3 Missile flight test today at White Sands Missile Range, N.M., in which PAC-3 successfully detected, tracked and intercepted an aerodynamic, threat-representative tactical ballistic missile target.

The ripple fire engagement of two PAC-3 Missiles resulted in the first interceptor destroying the target.  The second PAC-3 Missile was self-destructed on command as planned.

"The PAC-3 Missile continues to deliver proven, reliable performance along with unmatched lethality," said Richard McDaniel, vice president of PAC-3 programs at Lockheed Martin Missiles and Fire Control. "The capability PAC-3 provides continues to draw significant interest from a number of international customers."

Lockheed Martin recently received a $308 million contract for continued production of the PAC-3 Missile for the U.S. and Kuwait. The Fiscal Year (FY13) contract includes missile and command launch system production for the U.S. Army and a first time Foreign Military Sale (FMS) of the PAC-3 Missile to Kuwait. Kuwait becomes the sixth international customer for the PAC-3 Missile. Lockheed Martin is prime contractor on the PAC-3 Missile Segment of the PATRIOT air defense system.

The PAC-3 Missile is one of the world's most advanced, capable and reliable theater air defense missiles. It defends against advanced tactical ballistic and cruise missiles, and fixed- and rotary-wing aircraft. As the most technologically advanced missile for the PATRIOT air defense system, PAC-3 significantly increases the PATRIOT system's firepower, as 16 PAC-3s can be loaded in place of only four legacy PATRIOT PAC-2 missiles on the PATRIOT launcher. 

Lockheed Martin is a world leader in systems integration and the development of air and missile defense systems and technologies, including the first operational hit-to-kill missile.  It also has considerable experience in missile design and production, infrared seekers, command and control/battle management, and communications, precision pointing and tracking optics, as well as radar and signal processing.  The company makes significant contributions to all major U.S. missile defense systems and participates in several global missile defense partnerships.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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!
SYM TRADE IT LAST %CHG

Markets

DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

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