Lockheed Martin (LMT) Gets $353.2M Army Contract for GMLRS Unitary Rockets
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Price: $107.06 +0.71%
Overall Analyst Rating:
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Dividend Yield: 4.3%
Revenue Growth %: -1.7%
Overall Analyst Rating:
NEUTRAL (
Down)Dividend Yield: 4.3%
Revenue Growth %: -1.7%
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Lockheed Martin (NYSE: LMT) has received a $353.2 million U.S. Army follow-on contract for the seventh production lot of Guided Multiple Launch Rocket System (GMLRS) Unitary rockets.
Designed for destroying targets at ranges up to 70 kilometers, GMLRS is an all-weather, rapidly deployable, long-range rocket that delivers precision strike beyond the range of most conventional weapons. GMLRS Unitary rockets have achieved a combat-reliability rate of 98 percent and have established a reputation for affordability.
Rockets from this production lot will be supplied to the U.S. Army and U.S. Marine Corps, and to the armies of Italy, Jordan and Singapore. This contract represents Italy's first purchase of GMLRS rockets. Deliveries are scheduled to begin in December 2013, with work performed at the company's facilities in Camden, Ark., and Dallas.
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Designed for destroying targets at ranges up to 70 kilometers, GMLRS is an all-weather, rapidly deployable, long-range rocket that delivers precision strike beyond the range of most conventional weapons. GMLRS Unitary rockets have achieved a combat-reliability rate of 98 percent and have established a reputation for affordability.
Rockets from this production lot will be supplied to the U.S. Army and U.S. Marine Corps, and to the armies of Italy, Jordan and Singapore. This contract represents Italy's first purchase of GMLRS rockets. Deliveries are scheduled to begin in December 2013, with work performed at the company's facilities in Camden, Ark., and Dallas.
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