Archive: Business/Financial

GATR Inflatable Antenna

Photo: GATR Technologies

Cubic Swings To Loss In First Quarter; Completes GATR Acquisition

Cubic Corp. [CUB] on Thursday reported a net loss in its opening quarter and a slight drop in sales and the company this week also closed the acquisition of a satellite communications company. Net income swung to a loss of $5.4 million, 20 cents earnings per share (EPS), versus net income of $5.2 million (19 [...]

CACI President and CEO Ken Asbury

CACI Reports Higher Sales And Earnings In Second Quarter

CACI International [CACI] on Wednesday reported higher sales and earnings in its second quarter driven by organic growth and lower interest expenses and taxes. Net income soared 23 percent to $30.3 million, $1.23 earnings per share (EPS), from $24.6 million ($1.01 EPS), topping consensus estimates by 7 cents per share. Sales edged up nearly 2 [...]

510 PackBot
Photo: iRobot

Arlington Capital To Acquire iRobot’s Defense And Security Business

Arlington Capital Partners on Thursday said it has agreed to acquire the military and security ground robotics operations of iRobot [IRBT] and is turning its focus to its home robots business, which generates about 90 percent of annual sales. iRobot said the deal price is upward of $45 million, including contingent payment based on meeting [...]

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Elbit-KBR Joint Venture Wins $713 Million UK Military Flight Training System Program Contract

The United Kingdom Ministry of Defence (MoD) awarded Affinity Flying Services Ltd., a joint venture between Elbit Systems Ltd. [ESLT] and Kellog, Brown and Root, Limited [KBR], a $713 million contract to support Ascent Flight Training Services Limited, the companies said Tuesday. Ascent services are part of the U.K. Military Flight Training System (UKMFTS) program [...]

Harris Corp.  Chairman, President and CEO William Brown. Photo: Harris

Harris Swings To Loss In Second Quarter On Oil And Gas Woes

Harris Corp. [HRS] on Tuesday reported a net loss in its second quarter due to a write down in one of its businesses that supplies communications systems to the reeling oil and gas sector. A non-cash $328 million after-tax charge at the CapRock business drove net income to a $152 million, $1.23 earnings per share [...]

Fast Response Cutter underway. Photo: Bollinger Shipyards

Committee Says Bollinger Only Bidder For Second Phase Of FRC Program

Bollinger Shipyards, the shipbuilder on the current contract to build 32 of a planned buy of 58 new Coast Guard patrol boats, is the only bidder on a recompetition for the remaining 26 vessels, according to briefing materials from a House panel. The House Transportation and Infrastructure Subcommittee on Coast Guard and Maritime Transportation says [...]

CACI President and CEO Ken Asbury

CACI Completes $550 Million Acquisition Of L-3′s National Security Solutions Segment

CACI International [CACI] on Monday said it has completed its $550 million cash acquisition of L-3 Communications’ [LLL] government services segment, in a deal that is expected to add $1 billion in annual sales and significantly expand its capabilities in information technology solutions. CACI will report its second quarter FY ’16 results on Wednesday at [...]

Rob Strain, president of Ball Aerospace & Technologies. Photo: Ball

Ball Acquires Engineering Cyber Firm Wavefront Technologies

Ball Corp.’s [BLL] aerospace business on Friday said it has acquired the engineering cyber firm Wavefront Technologies in a deal that diversifies its business portfolio. Terms of the deal were not disclosed. Wavefront is headquartered in Maryland near the National Security Agency and has more than 100 systems engineers, software engineers and analysts with security [...]

marlin-web

Cobham Sells Surveillance Business To Private Equity Firm

Britain’s Cobham plc in January sold its surveillance business to Marlin Equity Partners for $10 million. The transaction closed on Jan. 14. The Surveillance Business (TSB) is dually headquartered in Florida and Britain and serves customers in countries worldwide. The Surveillance business includes video, audio, tagging, tracking and locating, advanced cellular monitoring and intercept products [...]

L-3 Chairman and CEO Michael Strianese. Photo: L-3

L-3 Swings To Fourth Quarter Loss On Charge, Sales Dip

L-3 Communications [LLL] on Wednesday reported a hefty net loss in the fourth quarter due to an impairment charge related to the fair value of a business unit combined with a decline in operating income and a loss at its government services business that is being divested. The company’s net income swung to a loss [...]