ITT lands $153 million Army order
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- September
- 25
ITT Corp., a White Plains-based defense contractor, said that it has received a $153 million order for night-visision military gear from the U.S. Army.
The order covers equipment known as AN/PVS-14 night vision monocular that allows soldiers to adjust the system in varying light conditions in both urban and rural areas. The night-vision equipment can be hand-held, mounted on a weapon or fitted to a camera.
The Army order is the latest under a contract awarded to ITT in September 2005. ITT said it has received orders for more than 300,000 of the monocular devices and 3,000 night-vision goggles.
“ITT is well positioned to serve the military’s needs because it specializes in producing high-tech electronic warfare systems and equipment for the modern battlefield,†read a research report from Morningstar.
In July, ITT said that record revenues in all three of its divisions helped propel the company to higher-than-expected profits in the second quarter. The company also raised its profit forecast for 2008.
This entry was posted
on Thursday, September 25th, 2008 at 1:19 pm by Jay Loomis.
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