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Defense contractor Lockheed Martin Corp. said Thursday it received a $16.6 million contract from the Naval Air Systems Command to develop software for the system that controls the Tomahawk Land Attack Missile.

The contract value could scale up to $50.7 million if the Navy exercises the option to extend it over four years.

Under the contract, Lockheed will provide systems engineering, software development, hardware support and management to upgrade the missile's hardware and software.

Lockheed Martin shares fell 63 cents to $72.49 in midday trading.

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