Raytheon Awarded U.S. Navy Systems Contracts worth up to $72 million

WALTHAM, Mass., Dec. 30, 2011. Raytheon Company (NYSE: RTN) has received two separate contract awards from the Naval Sea Systems Command (NAVSEA) of the United States Navy for work on: the Phalanx, SeaRAM and Land-based Phalanx weapons systems; and on NATO SEASPARROW surface missile systems.

The combined value of the two contracts, which were announced on Dec. 27 by the Department of Defense, could near $72 million should NAVSEA exercise all options on the SEASPARROW contract.

Raytheon Company, Tucson, Ariz., is being awarded a $45,588,204 cost-plus-fixed-fee contract for design agent engineering and technical support services for Phalanx, SeaRAM and Land-based Phalanx Weapon Systems. The Phalanx Close-In Weapon System is a fast-reaction terminal defense against low- and high-flying, high-speed maneuvering anti-ship missile threats that have penetrated all other defenses.

Raytheon Company, Portsmouth, R.I., is being awarded a $21,066,612 not-to-exceed letter contract for NATO SEASPARROW surface missile systems MK57 MOD 12/13, guided missile launching system MK29 MOD 5, and assorted spares. This contract includes options which, if exercised, would bring the cumulative value to $26,350,589.