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Litton Lands Treasury Dept. Computer Deal

May 19, 2000|Indraneel Sur

The information technology arm of Woodland Hills-based Litton Industries will install and maintain a new computer system to manage human resources for the U.S. Treasury Department, the company said. The federal government's contract with Litton PRC, the defense contractor's McLean, Va., subsidiary, is worth up to $110 million over three years, said Litton spokesman Randy Belote. Litton's hardware and software would allow officials to handle paycheck, employee benefits, and vacation issues for about 160,000 workers in the department's 14 bureaus, including the Internal Revenue Service and the Bureau of Alcohol, Tobacco and Firearms. Many of the bureaus currently use separate and obsolete systems for these tasks, Belote said. Litton's information-systems business reported an operating profit of $39.6 million before special charges for the 1999 fiscal year, compared with an operating profit of $70.4 million the year before. Litton shares fell $1.19 to close at $40.56 on the NYSE.

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