(ITT) ITT Corp. Wins Enhanced Night Vision Goggle contract

August 21st, 2009

ITT Corporation (ITT) has been awarded $43 million follow-on orders by the U.S. Army’s Research, Development and Engineering Command Acquisition Center for the Enhanced Night Vision Goggle and associated spare parts.

Enhanced Night Vision Goggle optically combines an image intensification image, and proven thermal infrared technology, allowing for improved mobility and situational awareness—through clear target detection and improved target recognition.

ITT’s Night Vision business, based in Roanoke, VA, is the world’s leading developer, producer and supplier of head- and helmet-mounted night vision solutions and image intensifiers for U.S. and allied military forces as well as the homeland security market.

Subsequently, ITT Corp. also received a $29.2 million contract from the U.S. Navy to produce radar modification kits used aboard Navy ships. The radars enhance missile guidance capability, while the kits will increase operational availability and decrease operating and support costs, according to the government notice.

ITT Corporation is a high-technology engineering and manufacturing company with approximately 40,000 employees. Its portfolio of businesses is aligned with enduring, global growth drivers and is spread on all seven continents in three vital markets: water and fluids management, global defense and security, and motion and flow control. Its major competitors are Lockheed Martin Corporation (LMT) and Raytheon Company (RTN).

We currently have an Outperform Recommendation on ITT Corporation.

Zacks Investment Research
View original at: Zacks.com News Feed

More on this topic (What's this?)
ITT: Three Good Companies, One Low Price (Wall Street Sector Selector, 10/6/11)
John Keeley Jr: Long ITT Corp ~ Notes From Invest For Kids Chicago (market folly, 11/10/11)
Bookkeeping: Cover ITT Educational (ESI) (Fund my Mutual Fund, 3/20/09)
Bookkeeping: Short ITT Educational (ESI) (Fund my Mutual Fund, 3/18/09)
Read more on ITT Corporation at Wikinvest

Related Posts:

  1. (MOT) Motorola Wins First Long Term Evolution ContractMotorola (MOT) recently announced that its Home & Network Mobility business unit was selected as...
  2. ($VLO) Valero Wins Defense Logistics Agency Aviation Fuel ContractYesterday, Valero Marketing and Supply Co., a subsidiary of oil refiner and marketer Valero Energy...
  3. (ESLT) Elbit Systems Ltd. – Aggressive Growth – Zacks Rank BuyElbit Systems Ltd. (ESLT) just announced a record quarter and full year. Shares are up...
  4. (NGA) News Bites for Thursday December 11th: GeoEye Wins Large Contract, AAR Earnings PreviewI wanted to update you on 2 of the companies in the PeakStocks.com portfolio that...
  5. Paul Volcker – Saturday Night MassacreEach month, New York Times chief financial correspondent Floyd Norris takes a look at a...
  6. (OLN) – Olin Corp – Sales for the quarter were up 61% from the same period last yearOlin Corporation’s (OLN) share price has been steadily advancing for most of the year, recently...


Search Posts by Tag: | | | | | | Diversified Machinery | Industrial Goods

RSS Feeds by Tag: ITT | ITT Corporation | LMT | Lockheed Martin Corporation | Raytheon Company | RTN | Diversified Machinery | Industrial Goods |

Other Posts by: | RSS Feed for this author