October 16, 2008 09:00 ET

DRS Technologies Receives $33-Million Order for Long Range Advanced Scout Surveillance System Subassemblies

PARSIPPANY, NJ--(Marketwire - October 16, 2008) - DRS Technologies, Inc. (NYSE: DRS) announced today that it has received a follow-on order of $32.7 million for electro-optical subassemblies for the Long Range Advanced Scout Surveillance System (LRAS3) program. This is the second order under a five-year contract with a projected minimum value of $100.8M over its term, awarded by the Raytheon Company (NYSE: RTN), McKinney, Texas, the prime contractor and final integrator for the LRAS3 program.

The work will be carried out by the company's DRS Sensors & Targeting Systems - Optronics Division in Melbourne, Florida. Deliveries are scheduled for January 2009 through April 2010.

The modern battlefield's premier ground-combat reconnaissance and surveillance system, LRAS3 is a multi-sensor infrared system for Stryker, HMMWV and MRAP vehicle platforms. It enables real-time detection, recognition, identification and geo-location of distant targets 24 hours a day, even in conditions of extremely poor visibility. In addition, the LRAS3 performs these tasks from locations beyond the enemy's acquisition and engagement ranges.

Under the terms of the contract, DRS will provide key LRAS3 electro-optical subassemblies including Forward Looking Infrared systems (FLIRs) and Integrated Optical Benches (IOBs).

"We understand how difficult it can be to conduct a reconnaissance mission. LRAS3 enables round-the-clock reconnaissance and surveillance without putting our soldiers at risk of direct fire from the targets they're observing," said James M. Baird, president of DRS's Reconnaissance, Surveillance & Target Acquisition (RSTA) business segment. "We're honored to be playing such a key role in improving both the effectiveness and safety of our warfighters."

The RSTA business segment develops, manufactures and supports electro-optical technologies, including advanced cooled and uncooled thermal-imaging solutions for soldier systems, ground vehicle, airborne, and maritime as well as for industrial, security, public safety and firefighting applications.

DRS Technologies, headquartered in Parsippany, New Jersey, is a leading supplier of integrated products, services and support to military forces, intelligence agencies and prime contractors worldwide. The company employs approximately 10,500 people. For more information about DRS Technologies, please visit the company's web site at

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