L-3 Communications receives $500M US Army contract

Defense contractor L-3 Communications Holdings Inc. said Thursday a subsidiary has received a program management contract from the U.S. Army worth up to $500 million.

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The company said its MPRI division received the follow-on contract from the U.S. Army Program Executive Officer Enterprise Information System. The contract has one base year, plus four option years.

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Under the contract, MPRI will provide the army with services including engineering, information assurance, logistics, acquisition support, training and strategic communications.

Shares of L-3 rose 21 cents to $74.55 in morning trading. The stock has traded between $57.12 and $107.01 in the last 52 weeks.