Skyworks wins 5-year contract on Aegis system

Wireless chip maker Skyworks Solutions Inc. said today that it has signed a five-year, multimillion dollar contract with defense contractor Lockheed Martin Corp. to supply components for the Aegis missile-defense system.

Skyworks will be making high-precision technical ceramic toroids and inserts, which are crucial in steering systems.

The Navy's Aegis is the sea-based component of the U.S. missile-defense system and combines radar and missile technology to try to intercept incoming missiles in space.

Further financial details of the contract were not disclosed.

Skyworks also makes products for automotive, cellular and medical applications.

Shares of Skyworks fell 9 cents to $9.31, while Lockheed shares added 20 cents to $115.45 in morning trading. (AP)