Leonardo DRS wins $99 million U.S. Army contract

ARLINGTON, Va. - Defense technology provider Leonardo DRS, Inc. (NASDAQ:DRS), a $16.1 billion market cap defense technology company with annual revenues of $19 billion, has secured a more than $99 million contract to supply the U.S. Army with advanced Mortar Fire Control Systems (MFCS), the company announced today. According to InvestingPro data, the company maintains a robust P/E ratio of 14.9x, indicating strong market confidence in its operations. The fixed-price, indefinite delivery/indefinite quantity (IDIQ) contract involves production and delivery of these systems, along with fielding services to support the Army's mortar Weapons and Fire Control programs.

The MFCS is designed to modernize the Army's existing mortar fire control capabilities by integrating mortars with the digital battlefield. This system incorporates a precise weapon pointing device, an inertial navigation/position system, and a digital communications suite within a durable fire control computer. These enhancements aim to increase the responsiveness and accuracy of mortar crews by enabling the digital exchange of call for fire messages, weapon positioning, and ballistic computations.

Dennis Crumley, senior vice president and general manager of Leonardo DRS's Land Electronics business unit, highlighted the company's extensive experience in delivering advanced, ruggedized, and networked computing systems to the U.S. Army. Crumley expressed pride in the company's selection for this critical contract, which supports the Army's modernization efforts and enhances the capabilities available to warfighters.

Leonardo DRS emphasizes its strategic focus on network computing, positioning itself as a leading provider of advanced C5 technologies crucial for targeting, situational awareness, and Battle Management Systems (BMS) in multi-domain operations. The company's strong execution is reflected in its 13.5% revenue growth and a "GOOD" financial health rating from InvestingPro, which evaluates multiple financial metrics including profitability and operational efficiency. The company's investments in the future of C5 include the development of tactical computing systems, AI processing solutions, and advanced C5ISR/EW Modular Open Suite of Standards/Sensor Open System Architecture (CMOSS/SOSA) aligned mounted systems. These initiatives are geared towards improving sensor fusion, situational awareness, and reducing the cognitive load on commanders and crews.

Based in Arlington, VA, Leonardo DRS is known for its agile delivery of advanced defense technology to U.S. national security entities and allies. The company specializes in various mission-critical technologies, including advanced sensing, network computing, force protection, and electric power and propulsion.

The announcement is based on a press release statement and includes forward-looking statements subject to risks and uncertainties that could affect actual results and future trends.

In other recent news, Leonardo DRS, a prominent defense technology provider, has secured a substantial contract exceeding $77 million from General Dynamics (NYSE:GD) Land Systems. The contract tasks Leonardo DRS with supplying mission equipment packages for the SGT Stout Maneuver Short Range Air Defense (M-SHORAD) Stryker (NYSE:SYK) vehicles, encompassing assembly, integration, and testing of the equipment. The SGT Stout Stryker, equipped with the mission equipment package, enables soldiers to neutralize a variety of aerial threats, a capability already delivered to three Division Air Defense Battalions. This contract showcases Leonardo DRS's expertise in integrating complex technologies and reaffirms its position as a key player in the defense technology industry. Analysts note that these developments are part of the company's ongoing commitment to providing advanced solutions to national security customers and allies globally. It's important to mention that these are recent developments and the information is based on a press release statement from Leonardo DRS.

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