L3Technologies secures $53 million Navy contract for training range

Investing.com -- L3Technologies Inc. (NYSE: LHX) has been awarded a $52,969,729 modification to a previously awarded contract for work on shallow-water training ranges in California.

The firm-fixed-price contract modification (P00013) exercises options for the procurement, production, and testing of trunk cables, cable termination, and in-water subsystem components for the Southern California Anti-Submarine Warfare Range.

The U.S. Department of War announced that 92% of the work will be performed in Tanner Bank, California, with the remaining 8% in Goleta, California, where L3Technologies is based. The project is expected to be completed by May 2030.

The Naval Air Warfare Center Training Systems Division in Orlando, Florida, is serving as the contracting activity. The modification is to an existing contract (N6134021C0023) that was previously competed.

Funding for the project will come from fiscal 2026 Navy procurement funds, with the full $52,969,729 being obligated at the time of the award. None of these funds will expire at the end of the current fiscal year.

You May Also Be Interested In

• SpaceX prices historic IPO at $135/share in largest ever new listing
• CRISPR Therapeutics (CRSP) Reiterated at Market Outperform by Citizens
• Jet.AI adjourns shareholder meeting on flyExclusive transaction