Cobham Continues Climbing
By
Lou Gutheil
PUBLISHED:
Jan 07 2013 @ 08:26
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Cobham Defence Electronics (LSE:COB) watched its share price rise on the LSE today in the wake of an announcement that it had been awarded a contract with the United States Navy in the amount of $31 million USD.
The share price closed at 225.80 on 04 January but edged upward by 0.70% to 226.50 at midday, as it continues to recover from a drop to 190.10 on 13 November 2012. It is now approaching it’s 12-month high of 239.50 which it reached on 19 April 2012. As of today, Cobham’s share price is up 25% from one year ago when it was at 180.30 of 05 January 2012.
Cobham is an electronics design and manufacturing company with a niche market in the aerospace and defense industries. It’s products are integral components of subsystems used in military aircraft, missiles, and satellites. Cobham has customers in over 100 countries.
The latest contract funds “the sixth full-rate production lot” of its AN/ALQ-99 low band transmitter-antenna group for EA-6B and EA-19G electronic warfare aircraft. The announcement emphasized that Cobham’s strategic components are not used exclusively in Naval aircraft, but also on ships and surface vehicles.
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