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Raytheon Awarded $23.5 Million Risk Reduction Contract for Next-Generation GPS Ground Control Segment

Posted on: Tuesday, 21 April 2009, 08:00 CDT

On-time and low-risk delivery is vital to program's success

AURORA, Colo., April 21, 2009 /PRNewswire/ -- Raytheon Company (NYSE: RTN) received a contract extension to perform additional risk-reduction activities for the U.S. Air Force's next-generation Global Positioning System Operational Ground Control Segment, or GPS OCX. Raytheon will identify and mitigate program risk to create a roadmap to keep the program on budget and on schedule.

"We are working with our customer to continue to reduce program risk to ensure that we have the lowest-risk program going forward," said Bob Canty, Raytheon GPS OCX vice president and program manager. "What's critically important on this program is to be able to deliver our team's commitments fully and on-time."

In completing all major program milestone requirements on or ahead of schedule, the Raytheon GPS OCX team is poised for success. The team expects a final request for proposal in the next few months.

"The Raytheon team has continued to demonstrate its commitment to timely delivery by achieving all objectives on time and within budget, and we will continue that into our risk-reduction activities," Canty said.

The original contract was awarded by the Air Force Space and Missile Systems Center, Los Angeles Air Force Base, in November 2007 to produce the new control segment for current and future GPS systems.

The Raytheon team includes ITT, The Boeing Company, Infinity Systems Engineering, Jet Propulsion Laboratory, SRI International and Braxton Technologies.

Raytheon Intelligence and Information Systems is a leading provider of intelligence and information solutions, specializing in ground processing, unmanned ground systems, cybersecurity operations, homeland security and other markets to resolve the most complex problems for customers worldwide. IIS had 2008 revenues of $3.1 billion and employs more than 9,000 engineering and technical professionals worldwide.

Raytheon Company, with 2008 sales of $23.2 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 87 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.

Contact: Keith Little 703.849.1675

SOURCE Raytheon Company

Source: PR Newswire

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