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4-Traders Homepage  >  Equities  >  Nyse  >  Lockheed Martin Corporation    LMT

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Lockheed Martin : U.S. Air Force Awards Lockheed Martin JASSM Telemetry Kit Production Contract

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11/15/2017 | 09:21am CET

ORLANDO, Fla.- Lockheed Martin (NYSE: LMT) received a $44.1 million contract from the U.S. Air Force to produce Intelligent Test Instrumentation Kits (iTIK) to be used on Joint Air-to-Surface Standoff Missile (JASSM) flight tests for telemetry and flight termination purposes.

This contract for iTIKs provides benefits across multiple missile programs. These upgraded iTIKs eliminate obsolete parts from previous generation test kits and provide a new product that can be used on several different missiles.

'The new iTIK provides a next generation telemetry kit for both JASSM baseline and Extended Range missiles, as well as the Long Range Anti-Ship Missile,' said Kim Oyler, program manager at Lockheed Martin Missiles and Fire Control. 'The electronic components in this new kit will provide enhanced reliability over the previous generation's mechanical configuration.'

The new iTIKs will be compatible with all production lots of JASSM already in inventory, as well as future lots and variants.

Armed with a penetrating blast-fragmentation warhead, JASSM-Extended Range (ER) can be used in all weather conditions. The stealthy 2,000-pound cruise missile employs an infrared seeker and enhanced digital anti-jam GPS receiver to dial into specific points on high-value, well-fortified, fixed and relocatable targets. The B-1B carries JASSM-ER. Integration on other aircraft platforms is ongoing. More than 2,150 JASSM and JASSM-ER missiles have been delivered.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

SOURCE Lockheed Martin

(C) 2017 Electronic News Publishing, source ENP Newswire

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Financials ($)
Sales 2017 50 654 M
EBIT 2017 5 797 M
Net income 2017 3 800 M
Debt 2017 11 470 M
Yield 2017 2,38%
P/E ratio 2017 23,91
P/E ratio 2018 23,05
EV / Sales 2017 1,98x
EV / Sales 2018 1,95x
Capitalization 88 802 M
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 330 $
Spread / Average Target 6,4%
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Managers
NameTitle
Marillyn A. Hewson Chairman, President & Chief Executive Officer
Rodney A. Makoske SVP-Corporate Engineering, Technology & Operations
Bruce L. Tanner Chief Financial Officer & Executive Vice President
Nolan Don Archibald Lead Independent Director
Anne L. Stevens Independent Director
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