ICYMI: L3Harris Technologies has Landed a Five-Year $999 Million Contract and Half of the Work will be Completed in Utah

We admit we missed this announcement when it was made late last month.

So ... in case you missed it too ... here's the skinny:

L3Harris Technologies (NYSE:LHX) has been awarded a five-year military contract worth up to $999 million, with 50% of that work to be completed in Utah.

{NOTE: The rest of the work will be conducted in California.}

According to the U.S. Department of Defense website, the Salt Lake City-based offices of L3Harris have won a U.S. Navy contract for "... the production, retrofits, development and sustainment of the Multifunctional Information Distribution System (MIDS) Joint Tactical Radio Systems (JTRS) terminals ..." specifically work on, and in support of, the stealth F-22 fighter jet, aka, the Raptor.

To be clear, this is what is known as "... an indefinite-delivery/indefinite-quantity contract," meaning that beyond the first fiscal year of the contract, July 2024 through June 2025, there is no guarantee that the entire contract will be consummated.

For the record, however, the contracting authority is Naval Information Warfare System Command in San Diego, California, and L3Harris was 1 of 3 organizations that submitted bids for this work.

According to the DoD and multiple news reports, this contract combines the purchasing needs for specific strategic communications solutions for the Navy, U.S. Marines, and U.S. Air Force, as well as NATO and NATO member countries under what is known as the Foreign Military Sales (FMS) program.

By way of background, IndustrySelect reported last October that L3Harris has 3,500 employees in Utah who occupy over 900,000 square-feet of facilities / offices in the state, with this Utah base of operations serving as "... the company’s divisional headquarters (where it) produces wideband data links and satellite communication systems."

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