Lockheed Martin Corporation (LMT) has received a contract from the U.S. Army to assist the efforts of the coalition forces in Afghanistan by producing 29 additional Persistent Threat Detection Systems (‘PTDS’). The contract is valued at $184.3 million.
PDTS is a helium filled aerostat, which is a highly effective, cost efficient surveillance and communication system for the Army as it supports force-protection and counter-IED (improvised explosive devices) missions. The U.S. Army has reaped the benefits of the PTDS since 2004 given its reliability in assisting troops on missions that require real-time surveillance and valuable intelligence information.
Lockheed received the previous contract for PTDS production from the U.S. Army in June 2010. The deal was then worth $142 million. This system provides the Army with around-the-clock surveillance of large geographic areas for weeks at a time with multi-mission sensors.
Lockheed has been receiving contracts from the defense departments steadily. Only this month, the company received an Operations, Planning, Training, and Resource Support Services (OPTARSS II) contract from the U.S. Army to provide necessary support to the soldiers in the U.S. and overseas with operations planning, training and logistics to ensure mission readiness.
This month also saw the company receiving a $13 million contract from the Defense Advanced Research Projects Agency to develop an automated system for intelligence analysts. The new automated system is designed to help analysts process and integrate battlefield information faster and more accurately than was possible to date.
During the first quarter earnings release the company reiterated its topline forecast for 2011 while increasing its earnings per share expected range by 25 cents to $6.95–$7.00. The lift in the guidance was due to a favorable April 2011 resolution of certain tax matters with the Internal Revenue Service. The Zacks Consensus Estimates for second-quarter 2011, fiscal year 2011 and fiscal year 2012 are, respectively, $1.92 per share, $7.28 per share and $8.73 per share.
Lockheed currently retains a Zacks #2 Rank (short term Buy). The company primarily competes with The Boeing Co. (BA), Northrop Grumman Corporation (NOC) and Raytheon Co. (RTN), all of which presently have a Zacks # 3 Rank (short term Hold).
Based in Bethesda, Maryland, Lockheed Martin is a global security company that is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
BOEING CO (BA): Free Stock Analysis Report
LOCKHEED MARTIN (LMT): Free Stock Analysis Report
NORTHROP GRUMMN (NOC): Free Stock Analysis Report
Be the first to comment