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.
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