In the latest in a string of lucrative federal government contract awards, L3Harris Technologies (NYSE:LHX) has secured new work for the Navy. As part of an ongoing project involving the company's aerial combat countermeasure solutions, it has accepted additional deliverables worth a cool $876 million. This isn't the first jumbo-sized contract extension the company's been a part of, and it probably won't be the last. Regardless, it's considerable, and the project is important. Let's dive into the deal and determine how this will affect L3Harris's financials and its status as a go-to defense contractor in its niche. Image source: Getty Images.
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