Raytheon Company (NYSE: RTN) disclosed that it has signed its first commercial performance based logistics contract with RUAG Switzerland Ltd. According to the company, this is a five-year agreement to service the ALR-67(V)3, an advanced digital radar warning receiver, for the Swiss government.
Raytheon said the ALR-67(V)3 warns F-18 pilots of possible hostile activities and provides real-time awareness of the situation. The commercial PBL represented the first of its kind for Switzerland and offered entry to the experience and success from its existing Navy PBL while maintaining control of their systems.
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Its Director for Space and Airborne Systems, Michael Baladjanian, commented, "A PBL is like a service contract you'd buy with a car that recognizes extended use requires maintenance and periodic fixes. In this case, we will leverage our know-how and experience sustaining the 67(V)3 to enable a nearly 100-percent-supply availability of the system."
The company said the advance of the PBL is it defined performance metric outcomes rather than defining rigid program needs. The focus is on support compared to design and development. It added that the two important elements for this PBL were the reliability and availability.
At time of writing, Raytheon shares traded $1.32 or 0.96 percent higher at $139.38.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.