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Press release from PR Newswire

Raytheon receives $230 million contract for SM-3

Tuesday, September 04, 2012

Raytheon receives $230 million contract for SM-308:30 EDT Tuesday, September 04, 2012TUCSON, Ariz., Sept. 4, 2012 /PRNewswire/ -- The Missile Defense Agency awarded Raytheon Company (NYSE: RTN) a $230 million contract for 14 Standard Missile-3 Block IA missiles and five SM-3 Block IB missiles. The SM-3 Block IA missiles will bolster the nation's inventory that is deployed around the world today aboard U.S and Japanese Navy ships.Designed to destroy short- to intermediate-range ballistic missile threats in space, Raytheon's SM-3 Block IB includes an enhanced two-color infrared seeker for better target discrimination. This improved SM-3, which was recently successful in two back-to-back flight tests in May and June 2012, also has a Throttleable Divert and Attitude Control System that allows the kinetic warhead to propel itself toward incoming threats using short bursts of precision propulsion. Raytheon has delivered more than 135 SM-3 missiles to the U.S. and Japanese navies on time and on budget.About RaytheonRaytheon Company, with 2011 sales of $25 billion and 71,000 employees worldwide, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 90 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter at @raytheon.Media Contact Heather Uberuaga 520.891.8421rmspr@raytheon.com SOURCE Raytheon Company