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ST. LOUIS -- LaBarge Inc. has been awarded a multi-year, $24 million contract by Raytheon Missile Systems to provide cables and harnesses for the Joint Standoff Weapon system.

The impact on 2005 revenues is expected to be $1.65 million, LaBarge said.

The contract has an estimated value of $24 million through 2012.

Work will be performed at LaBarge's Joplin, MO, facility. LaBarge is a contract electronics assembler.

The Navy uses JSOW in its fighter jets as a glide weapon. It uses GPS information to find its target.

SAN FRANCISCO -- Predicted growth rates for IT are at their lowest point since November 2003, according to the latest poll of the nation's CIOs.

Spending growth rates for the next 12 months fell to 4.8% in May, down from 7.9% last month, according to the monthly poll taken by CIO magazine. Spending projections in all categories fell month-over-month, except outsourced IT services.

Menlo Park, CA - OK International, which over the past few years has acquired several leading producers of benchtop assembly systems, is consolidating those product lines under the OK International name, the company said today.

In a statement, the company said that the Metcal, Techcon Systems and Impell lines of workbench products would now be sold under the OK International brand.

SALT LAKE CITY -- CirTran Corp. today announced outside investors have poured $3.75 million in cash into the contract electronics manufacturer's operations in a move that also cut interest payments by more than half.

CirTran issued a $3.75 million convertible debenture to Highgate House Funds, Ltd., a New York investment group. CirTran used the funds to retire separate notes of $1.7 million and $565,000, respectively.

CirTran gained a net cash of $1.24 million, which will be used to fund its operations in the U.S. and China," founder and president Iehab J. Hawatmeh said in a press statement.

CirTran will also save $254,000 -- 57% -- in annual interest payments.

Last week, CirTran reported EBITDA of $26,518 and positive shareholder equity for the first quarter of fiscal 2005.

PHOENIX -- Suntron Corp. is out of compliance with Nasdaq Stock Market rules for continued listing for failure to maintain a minimum market value of publicly held shares of $5 million for 30 consecutive trading days, the company said.

Suntron, a contract assembler, has until Aug. 22 to comply; failure to do so will lead to delisting of the company's common stock.

Suntron said it is evaluating its options.

TEMPE, AZ - New orders and backlogs for manufacturers grew for the 24th straight month in May - the longest stretch of growth in 16 years. But the rate of growth is losing momentum, according to the latest Institute for Supply Management figures, released this morning. The PMI measure of economic activity fell for the sixth straight, slipping 1.9 points sequentially to 51.4%, its lowest point since June 2003.

For the month new orders and backlogs were down 2.0 points and production slid 1.8 points. Inventories at manufacturers ticked down, but customer stock levels jumped six points.