Irvine Sensors Wins Defense Contract

Irvine Sensors Corp. said Wednesday that a team it assembled is one of four winners of a Defense Department procurement contract for a system conceived to enhance combat target detection and identification by use of laser imaging.

The Costa Mesa electronics products maker said in a news release that the three-year contract for the Jigsaw system provides initial funding of $1 million and a chance to pick up one of two $20-million contracts after the first year.

Irvine Sensors stock lost 1 cent to close at 64 cents a share on Nasdaq's small-cap market.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World