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4-Traders Homepage  >  Equities  >  Nyse  >  Northrop Grumman Corporation    NOC

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Saab : Receives Contract for Components to the U.S. Marine Corps' Ground/Air Task-Oriented Radar Program

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12/05/2016 | 03:02pm CET

Defence and security company Saab's U.S. based company, Saab Defense and Security USA, LLC., has been awarded a contract from Northrop Grumman Corporation (NYSE: NOC) for additional components and subsystems of the U.S. Marine Corps AN/TPS-80 Ground/Air Task Oriented Radar (G/ATOR) system. The funded value of the contract is $18.6 Million (166 MSEK).

G/ATOR will provide the U.S. Marine Corps with a single radar type that performs air surveillance, air defense, ground weapon locating and air traffic control missions. It is the first ground-based multi-mission active electronically scanned array (AESA) radar to be developed by the U.S. Department of Defense.

"With this contract, Saab continues to play a significant role in providing this capability to the U.S. Marine Corps. Saab's proven ability to provide innovative radar technology and highly capable solutions, on our own as well as in partnership with US primes, remains a strong foundation of our company and further supports our leading position as a supplier of radar and sensor systems in the global market," says Erik Smith, President and CEO of Saab Defense and Security USA.

The contract awarded by Northrop Grumman Corporation, prime contractor to the U.S. Marine Corps for the G/ATOR program, covers the delivery of major subsystems and assemblies, as well as software, for the next nine Low Rate Initial Production (LRIP) units. The Saab developed and built assemblies will be integrated by Northrop Grumman into the Lots 3-5 G/ATOR systems which will be delivered to the U.S. Marine Corps starting in 2018. In 2016 Saab successfully completed delivery of the first six systems under a prior contract for LRIP Lots 1 and 2.

Saab is a teammate to Northrop Grumman for the U.S. Marine Corps AN/TPS-80 program. The award to Saab includes priced options for additional sets of assemblies as well as associated spares.

For further information, please contact:
Saab Press Centre
+46 (734) 180 018
presscentre@saabgroup.com

Saab North America Media Contact:
Mr. John A. Belanger, V.P., Head of Communications, Saab North America, Inc. john.belanger@saabgroup.com
Tel: +1 (703) 406-7905

www.saabgroup.com  
www.saabgroup.com/YouTube
Follow us on Twitter: @saab (https://twitter.com/saab)

Saab Defense and Security USA LLC (SDAS) delivers advanced technology and systems to United States armed forces and other government agencies. Headquartered in Sterling Virginia, the company has business units and local employees in four states. SDAS is a wholly owned subsidiary of the Saab Group.

Saab serves the global market with world-leading products, services and solutions within military defense and civil security. Saab has operations and employees on all continents around the world. Through innovative, collaborative and pragmatic thinking, Saab develops, adopts and improves new technology to meet customers' changing needs.

http://news.cision.com/saab/r/saab-receives-contract-for-components-to-the-u-s--marine-corps--ground-air-task-oriented-radar-progr,c2137364

http://mb.cision.com/Main/183/2137364/599696.pdf

(c) 2016 Cision. All rights reserved., source Press Releases - English

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Financials ($)
Sales 2016 24 032 M
EBIT 2016 3 055 M
Net income 2016 2 096 M
Debt 2016 4 720 M
Yield 2016 1,39%
P/E ratio 2016 21,73
P/E ratio 2017 21,08
EV / Sales 2016 2,04x
EV / Sales 2017 1,96x
Capitalization 44 219 M
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Average target price 248 $
Spread / Average Target -1,3%
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Wesley G. Bush Chairman, President & Chief Executive Officer
Gloria A. Flach Chief Operating Officer
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Patrick M. Antkowiak CTO & Corporate Vice President
Donald E. Felsinger Lead Independent Director
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