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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Lockheed Martin Receives $33 Million Production Contract For U.S. Marine Corps Targeting System

ORLANDO, Fla., Oct. 28, 2013 /PRNewswire/ -- Lockheed Martin [NYSE: LMT] received a $33.9 million follow-on production contract from the Naval Surface Warfare Center (NSWC), Crane Division, for the Target Sight System (TSS), the fire control system for the U.S. Marine Corps' AH-1Z Cobra attack helicopter.  

TSS' advanced sensors provide pilots with enhanced capabilities to acquire, track and designate targets. TSS Lot 10 deliveries will be complete in December 2015.

"This contract allows our TSS team to move seamlessly into an accelerated delivery schedule ensuring the system is available to warfighters during critical missions," said Brad Partain, senior program manager of airborne systems at Lockheed Martin Missiles and Fire Control. "The system enables pilots to see farther, engage threats with increased confidence and safely return to base."

NSWC Crane awarded the initial TSS production contract in March 2008, followed by additional production contracts in June 2010, August 2011 and May 2012. Lockheed Martin delivered the first TSS in June 2009, and recently began early delivery of production units to support Lot 8 AH-1Z aircraft. TSS is produced at Lockheed Martin facilities in Ocala and Orlando, Fla. 

The highly stabilized sensor suite includes a laser designator, color video display and a third-generation, mid-wave, forward-looking infrared sensor with advanced image processing. In 2011, the AH-1Z deployed operationally with TSS.

TSS is one of several high-performance stabilized targeting systems designed, manufactured, tested and supported by Lockheed Martin. The company's fielded solutions for fixed- and rotary-wing aircraft include Modernized Target Acquisition Designation Sight/Pilot Night Vision Sensor for the U.S. Army, Sniper Advanced Targeting Pod for the U.S. Air Force and the AN/AAQ-39 targeting system for the U.S. Air Force Special Operations Command.

Lockheed Martin Missiles and Fire Control is a 2012 recipient of the U.S. Department of Commerce's Malcolm Baldrige National Quality Award for performance excellence. The Malcolm Baldrige Award represents the highest honor that can be awarded to American companies for achievement in leadership, strategic planning, customer relations, measurement, analysis, workforce excellence, operations and business results.

Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 116,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services. The Corporation's net sales for 2012 were $47.2 billion.

For additional information, visit our website: http://www.lockheedmartin.com

SOURCE Lockheed Martin

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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 18,194.93 -19.49 -0.11%
S&P 500 2,111.12 +0.38 0.02%
NASDAQ 4,981.0960 -6.7940 -0.14%

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