Northrop Wins Security Contract – Analyst Blog
Source: http://www.zacks.com/stock/news/24044/Northrop+Wins+Security+Contract++-+Analyst+BlogPosted on Wednesday, August 26th, 2009 | In Market Commentary, Stocks to Watch
On Monday, Northrop Grumman Corp.’s (NOC) cyber security team bagged a follow-on $430 million indefinite delivery/indefinite quantity (ID/IQ) contract from the US Army. In lieu of the deal, the company will continue providing a wide array of information operations (IO) and computer network operations (CNO) to the 1st Information Operations Command (Land), Fort Belvoir, Virginia, and its regional Computer Emergency Response Teams.
The contract had originally been awarded to Northrop by the Army’s Intelligence and Security Command, Fort Belvoir in 1997. Through this follow-on contract, valid for five years, Northrop will coordinate multiple battlefield functions such as electronic warfare, military deception, psychological warfare, operations security and computer-network operations to disrupt enemy decision-making while protecting information necessary for the US troops.
The deal will boost Northrop’s dwindling backlog subsequent to termination of the $5.1 billion Kinetic Energy Interceptor program by the US Government. The company’s total backlog fell to $70.4 billion after the second quarter from $76.9 billion year over year.
Based in Los Angeles, California, Northrop Grumman provides products, services, and solutions in information and services, aerospace, electronics and shipbuilding to the military, government and commercial customers in the United States and beyond. The company is the largest IT service provider to the federal government. In addition, it is the only nuclear-powered aircraft shipbuilder in the United States. We maintain our Neutral recommendation on the stock.
Read the full analyst report on “NOC”
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