Dulles, VA-based aerospace and defense player, Orbital ATK, Inc.
OA won a contract from the U.S. Navy to produce two lots of Advanced Anti-Radiation Guided Missile (“AARGM”) for a combined value of $260 million. Orbital ATK expects AARGM to achieve initial operational capability on the Italian Air Force’s Tornado ECR aircraft in 2017.
The full-rate production for the fourth lot of AARGM is valued at $119 million and the fifth lot at $141 million. The procurement involves the conversion of AGM-88B High-Speed Anti-Radiation Missiles to 142 AGM-88E All-Up-Rounds and 12 Captive Air Training Missiles.
AARGM is a supersonic, medium-range, air-launched tactical missile that provides the latest and most advanced weapon system to engage and destroy enemy air defenses and time-critical, mobile targets.
The missile furnishes an advanced system for pilots, with in-cockpit, real-time electronic order that provides battle si ∞∞∞∞∞ www.nasdaq.com ∞∞∞∞∞ tuational awareness against modern threats that range from surface to air. AARGM quickly engages traditional and non-traditional advanced land- and sea-based threats.
In the second quarter of 2015, Orbital ATK reported pro forma earnings of $1.28 per share, outpacing the Zacks Consensus Estimate of $1.02 by 25.5% and increasing 16.4% from the comparable year-ago period.
The company clocked orders worth $1,360 million in the second quarter and its firm backlog stood at $8.4 billion as of Jul 5, 2014. Its total backlog was approximately $12.2 billion including options, indefinite quantity contract and undefinitized orders. ∞∞∞∞∞ www.nasdaq.com ∞∞∞∞∞