DAVIDSON, N.C. - Curtiss-Wright Corporation (NYSE:CW) has been awarded a $16 million contract to supply the U.S. Air Force with advanced communications modules and cybersecurity integration, the company announced today.
The contract, which is expected to grow to a value exceeding $60 million, involves the provision of the PacStar® 400 series modules and Commercial Solutions for Classified (CSfC) integration to enhance deployable communications.
The Defense Solutions division within Curtiss-Wright's Defense Electronics segment will undertake the work, with the contract slated to continue through the end of 2027. The company's products are designed to connect to Department of Defense Information Networks (DoDIN) globally and will incorporate software automation to bolster connectivity and network security across various classification levels.
Lynn M. Bamford, Chair and CEO of Curtiss-Wright Corporation, expressed enthusiasm about the company's selection for the project, emphasizing the significance of this deployment for the Air Force. The contract builds upon Curtiss-Wright's existing support of U.S. Army and Marine Corps modernization efforts, and will utilize the company's proprietary IQ-Core Software for network communications management.
Curtiss-Wright, with its headquarters in Davidson, North Carolina, employs approximately 8,600 people and is known for providing highly engineered products, solutions, and services to the Aerospace & Defense sectors, as well as to Commercial Power, Process, and Industrial markets.
This contract represents a continuation of Curtiss-Wright's long-standing tradition of delivering innovative solutions to its customers, a tradition that traces back to aviation pioneers Glenn Curtiss and the Wright brothers.
The information regarding the contract and its future implications is based on a press release statement from Curtiss-Wright Corporation. The company's forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
These statements are not historical facts and include expectations of future performance of Curtiss-Wright's tactical networking products and the long-term value of the contract.
InvestingPro Insights
As Curtiss-Wright Corporation (NYSE:CW) secures a significant contract with the U.S. Air Force, the company's financial health and stock performance come into focus. According to the latest data from InvestingPro, Curtiss-Wright boasts a robust market capitalization of $10.69 billion, reflecting investor confidence and the company's solid position in the market.
Despite a high Price/Earnings (P/E) ratio of 28.41, which suggests a premium on the stock relative to near-term earnings growth, the company has shown an impressive revenue growth of 11.39% over the last twelve months as of Q1 2024, indicating a strong business performance.
InvestingPro Tips highlight that Curtiss-Wright has maintained dividend payments for an impressive 51 consecutive years, demonstrating a commitment to returning value to shareholders. Moreover, the company has raised its dividend for 7 consecutive years, which could be an attractive point for income-focused investors. With a dividend yield of 0.3%, the company shows a balance of growth and income potential.
Investors looking to delve deeper into the company's performance and future outlook can find additional InvestingPro Tips by visiting https://www.investing.com/pro/CW. With these insights, including the company's moderate level of debt and strong return over the last year, subscribers can make more informed decisions.
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