Archive: Business/Financial

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Global Aerospace And Defense M&A Activity Off In Third Quarter, PwC Says

Mergers and acquisitions (M&A) activity across the global aerospace and defense (A&D) industry slowed in the third quarter, although the pace for 2014 is still head of that in 2013, PricewaterhouseCoopers (PwC) said in its quarterly report on M&A activity in the industry. In the third quarter only six deals valued at at more than [...]

BAE Systems Chief Executive Ian King. Photo: BAE Systems

BAE To Acquire Commercial Cloud Security Provider SilverSky

Britain’s BAE Systems this week said it has agreed to acquire commercial cyber security service provider SilverSky for $232.5 million to grow its commercial cyber business. New York-based SilverSky provides cloud-managed security and application services as well as cloud-based email security and threat protection software. The company, which expects to have $75 million in sales [...]

Patriot Launcher
Photo: Raytheon

Pension Adjustment, Lower Taxes Boost Raytheon’s Third Quarter Earnings

Despite a modest decline in sales, Raytheon [RTN] on Wednesday posted a solid increase in third quarter earnings driven by favorable pension impacts, lower taxes, and a lower share count as a result of the company’s stock repurchase activity. Each of the company’s four business segments had lower sales and only one, Space and Airborne [...]

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Competition in DoD Contracting Up Overall After Sequester Hit, But No Clear Trends Emerge

As Defense Department spending and the percentage of DoD spending going towards contracts have both declined since sequestration began, no clear trends on competition for defense contracts have emerged. Rather, declines have varied greatly based on the military branch, the type of contract, and other factors, according to a study by the Center for Strategic [...]

U.K. Scout Specialist Vehicle (SV)
Image: General Dynamics

GD Posts Solid Earnings In Third Quarter Despite Flat Sales

General Dynamics [GD] on Wednesday posted solid third quarter earnings despite flat sales, led by its aviation segment and to a lesser degree a boost from its Combat Systems segment. Net income increased 7 percent to $696 million, $2.06 earnings per share (EPS), from $651 million ($1.84 EPS). Excluding impacts from discontinued operations, earnings increased [...]

Boeing's P-8 Maritime Surveillance Aircraft enjoyed higher sales in the third quarter. Photo: Boeing

Commercial Aircraft, Defense Lead Boeing To Strong Third Quarter

Driven by strong operating profit in its defense business coupled with handsome sales and profit gains in its commercial aircraft segment, Boeing [BA] on Wednesday reported strong financial results in the third quarter. Boeing’s Defense, Space & Security segment drove an overall double-digit increase in earnings at the company on the back of its Military [...]

The Triton arriving at Naval Air Station Patuxent River, Md. Sept. 18. Photo: U.S. Navy

Northrop Grumman’s Per Share Earnings Increase Despite Drop In Net Income

Northrop Grumman [NOC] on Wednesday posted solid gains in its per share earnings due to its stock buyback program, which lowered the company’s overall share count, even though net income fell largely due to pension adjustments. Net income slipped 5 percent to $473 million, $2.26 earnings per share (EPS), from $497 million ($2.14 EPS) although [...]

Lockheed Martin Chairman, President and CEO Marillyn Hewson

Pension Income Again Boosts Earnings At Lockheed Martin

Lockheed Martin [LMT] on Tuesday posted higher net profits in the third quarter due to a swing to pension income although sales fell slightly. Net income increased nearly 2 percent to $888 million, $2.76 earnings per share (EPS), from $873 million ($2.66 EPS) a year ago, beating analysts’ estimates by 4 cents per share. The [...]

S-97 Raider Prototype
Photo: Sikorsky Aircraft Corp.

UTC Posts Strong Third Quarter Results

United Technologies [UTX] on Tuesday reported a strong increase in net earnings driven by tax benefits, higher segment operating profits and lower restructuring costs while sales increased on strength across its business segments. Net income jumped 31 percent to $1.9 billion, $2.04 earnings per share (EPS), from $1.4 billion ($1.55 EPS), topping consensus estimates of [...]

BF-17, Major Richard "BC" Rusnok & BF-18, LtCol Jon "Miles" Ohma

Alcoa Expects Future Expansion Via External Acquisition And Internal Investment

Buoyed by its recent acquisition of metals manufacturer Firth Rixson, Alcoa [AA] expects future expansion by further acquisition of companies and internal investment, according to the head of its defense sector. Alcoa Defense President Eric Roegner told Defense Daily Oct. 14 the company has spent more than roughly $215 million on expanding existing plants. The [...]