L-3 Communications Holdings Inc.
) announced that its unit Warrior Systems-ALST received a
contract worth $30 million from the Republic of Korea (ROK). Per
the contract, L-3 Communications will supply state-of-the-art
Ground Laser Target Designators (GLTD) to the Korea Republic with
delivery starting from mid 2014.
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In addition, L-3 Communications will also provide Scarab GLTD
systems, conduct in-country operator and maintenance training,
supply spares, and establish and maintain a full-range,
multi-year logistics support capability in the ROK.
GLTD is a lightweight, single man-portable system with tripod
mounting, having exceptional operational capability to identify
and designate targets on the ground. The accuracy in pinpointing
targets 24x7 and in almost all combat situation help to
neutralize enemy targets and allow operators to have an edge over
This battery-powered system is capable of over an hour of
continuous designation from a single battery and incorporates the
latest advances in diode-pumped laser generation.
The foreign contracts will keep the business rolling for the U.S.
defense companies. On Aug 15, the company received a contract
from the government of Canada to provide complete in-service
support (ISS) services for the country's fleet of CC-150
aircraft. The five-year contract, with two five-year option
periods, has a total potential value of $669 million (C$683
L-3 Communications Holdings Inc. has a Zacks Rank #3 (Hold).
However, other well-performing defense operators in the sector
Lockheed Martin Corp.
Northrop Grumman Corp.
). These stocks carry a Zacks Rank #2 (Buy).