Lockheed Martin Corp. (LMT) has been awarded a $58.6 million contract to provide new systems, equipment and support services associated with the Vehicle Optic Sensor Systems II (VOSS II) and Portable Rapid Deployment Surveillance Systems (PRDSS) for the U.S. Marine Corps.
The contract entails supplying 110 VOSS II and 30 PRDSS, together with supplementary field services and equipment in support of these systems. Lockheed Martin said the equipments will be manufactured at its Gyrocam Systems facility in Sarasota, Florida. The company hopes to complete the order by March 2012.
The VOSS and PRDSS are capable of providing the U.S. Marines with the necessary warfighting abilities to meet their evolving mission needs. Lockheed Martin Gyrocam Systems has installed more than 900 Gyrocam camera systems on Mine Resistant Ambush Protected vehicles throughout Afghanistan and Iraq. These systems provide warfighters with crucial capabilities to conduct threat surveillance missions in the harshest environment.
The Gyrocam VOSS is a vehicle-mounted sensor system capable of being mast-mounted on virtually any land vehicle or expeditionary system for remote surveillance needs. The system provides high-resolution color, night vision and thermal sensors in a 15-inch class gyro-stabilized gimbal.
The Gyrocam PRDSS is a free-standing, portable, rapid deployment surveillance system that can be easily moved and set up in urban, rural and extreme terrain environments. It provides the command personnel a bird’s eye view of activity in the area.
Based in Bethesda, Maryland, Lockheed Martin is a global security company principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The company’s major customers include the U.S. government, foreign governments, and other commercial buyers. The company employs about 133,000 people worldwide.
We maintain our Neutral rating on a long-term basis (6-12 months) on the defense behemoth Lockheed Martin Corporation. Looking ahead, Lockheed expects its fiscal 2011 earnings in the range of $6.95-$7.25 with revenues in the range of $45.8 billion-$47.3 billion.
The Zacks Consensus earnings estimates for the second quarter, fiscal 2011 and fiscal 2012 are $1.92, $7.28 and $8.73, respectively.
Currently, Lockheed Martin has a Zacks #3 Rank, which implies a short-term Hold rating. The company ranks at par with its closest peers The Boeing Company (BA) and Raytheon Company (RTN), based on short term Zacks Rank. In the near term the stock is expected to perform in line with the market.
