Raytheon splits $289.7M mini-bomb deal with Boeing - Boston Business Journal:

Raytheon splits $289.7M mini-bomb deal with Boeing
Boston Business Journal - 1:14 PM EDT Tuesday
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Raytheon Co.'s Missile Systems business split a $289.7 million deal with the Boeing Co. to make a small diameter bomb that can destroy moving targets in poor weather and from a long range.

Raytheon (NYSE: RTN) of Waltham, Mass., will collect about $143.9 million and Boeing Co. of Chicago will reap about $145.8 million, according to a defense department release. The so-called Small Diameter Bomb (SDB) Increment II is expected to advance the development of miniature bombs. The companies are slated to finish the work for the Headquarters Air-To-Ground Munitions Systems Wing at Eglin Air Force Base, Fla., by October 2009.

Raytheon earned $871 million on sales of $21.9 billion last year.