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L-3 Communications receives $500M US Army contract

Defense contractor L-3 Communications Holdings Inc. said Thursday a subsidiary has received a program management contract from the U.S. Army worth up to $500 million.
/ Source: The Associated Press

Defense contractor L-3 Communications Holdings Inc. said Thursday a subsidiary has received a program management contract from the U.S. Army worth up to $500 million.

The company said its MPRI division received the follow-on contract from the U.S. Army Program Executive Officer Enterprise Information System. The contract has one base year, plus four option years.

Under the contract, MPRI will provide the army with services including engineering, information assurance, logistics, acquisition support, training and strategic communications.

Shares of L-3 rose 21 cents to $74.55 in morning trading. The stock has traded between $57.12 and $107.01 in the last 52 weeks.