Raytheon (RTN) got a $93 million contract option for performance-based logistics support of a radar warning-receiver system for the U.S. Navy.

The Waltham, Mass., defense contractor said the deal covers its ALR-67(V)3 system, which is used on F/A-18E/F carrier-based tactical aircraft in support of Navy troops in Middle East operations.

"Our PBL structure developed for the ALR-67(V)3 has been referred to as 'the gold standard,'" said Pat Hurley, vice president and general manager, Raytheon Electronic Warfare Systems. "It has resulted in our consistently exceeding availability and reliability requirements critical to providing mission support to the warfighter."

On Wednesday, Raytheon rose 34 cents to $37.02.

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