The contract, which is funded through L-3 by the U.S. Transportation Security Administration, also calls for Peabody-based Analogic (Nasdaq: ALOG) to prepare the systems for operational readiness. Company officials say the eXaminer XLB should be ready to be shipped by L-3 in August 2009.
Woburn-based L-3 Communications Security and Detection Systems, a unit of New York-based L-3 Communications Holdings Inc., was awarded the overall $10.5 million grant from the TSA to get the XLB system for field readiness. In March, Analogic and L-3 entered into an agreement giving L-3 exclusive rights to market and service the eXaminer SX and the eXaminer XLB security imaging systems. Both systems are based on Analogic's EXACT (EXplosive Assessment Computed Tomography) technology.
In April, Analogic completed its acquisition of Canton-based amplifier systems maker Copley Controls Corp. for $76.9 million in cash. Analogic reported a 2007 net income of $15.4 million on revenue of $340.8 million.