) wins a three-year Defense Threat Reduction Agency or DTRA
border security agreement. The contract is valued at $35.9
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Per the agreement, Raytheon is responsible for designing,
developing and implementing an integrated surveillance system
along sections of the Jordanian border. The company will also
provide training, maintenance and repair, as well as equipment.
Raytheon has worked with the DTRA on cooperative threat reduction
operation under a number of contracts. The Jordan venture is in
fact a part of the CTR Integrating Contract (CTRIC II), from Apr
2011, in this field.
Based in Waltham, Mass., Raytheon Company is a technology and
innovation leader specializing in defense, homeland security and
other government markets throughout the world. Going forward,
revenue and earnings growth would continue to be driven by its
strong presence in the areas of Intelligence, Surveillance and
Reconnaissance (ISR); air & missile defense systems; border
security; air traffic management; training and homeland security;
and cyber security.
Raytheon remains focused on strong program execution, prudent
capital management and strategic investments. In spite of the
declining trend in U.S. defense spending, Raytheon is one of the
best-positioned companies among the large-cap defense players due
to its non-platform-centric focus. The company enjoys impressive
order bookings and order backlog, an improving balance sheet,
growing cash flow and operational enhancements.
The company is actively involved in a number of classified U.S.
government programs, principally through its IIS and SAS business
However, we remain apprehensive over the future growth in the
U.S. defense budget, the fate of high-cost programs, risks
related to key project executions and order cancellations.
The company presently retains a Zacks Rank #3 (Hold). Other
stocks that look promising and are worth accumulating now include
Zacks Ranked #2 (Buy)
FLIR Systems, Inc.
Honeywell International Inc.
Macquarie Infrastructure Company LLC