Lockheed Martin Shares Rise on FBI Deal

Posted 16 March 2006 @ 10:27 pm EET     Print     Reprint     E-Mail     Comments

SEABROOK (AP) - Defense contractor Lockheed Martin Corp. said Thursday it received a $305 million, six-year contract to help the Federal Bureau of Investigation computerize its criminal-investigation records system.

The company said it will use commercially available technologies to build an integrated technology network that will enable the FBI to process, store and manage its criminal-investigation records, which are currently kept on paper. The project is part of the FBI's "Sentinel" initiative to modernize its information technology.

Lockheed Martin said it partnered for the project with a wide range of technology companies including Accenture Ltd. and Computer Sciences Corp.

Shares of Lockheed Martin was up $1.75 or 2.4 percent, to $75.97 in afternoon trading on the New York Stock Exchange, after earlier hitting a new year high of $76.03. The company previously traded with a 52-week high of $74.97.

Accenture shares slipped 13 cents, to $31.76 in the NYSE. Computer Sciences shares were down 95 cents, to $56.53 on the Big Board.