Archive: Business/Financial

Matthew Moynahan has been tapped to be Forcepoint's new CEO effective May 9. Photo: Forcepoint

With Eyes On Expansion, Bigger Customers, Forcepoint Appoints New Chief

Raytheon [RTN] on Wednesday said that  the board of its commercial cyber security joint venture Forcepoint has appointed a new chief executive, Matthew Moynahan, to help achieve the company’s growth goals by adding larger enterprises to its customer mix. Thomas Kennedy, Raytheon’s chairman and CEO and the chairman of Forcepoint, said on his company’s earnings […]

Gripen Aircraft. Photo: Saab.

Saab Partners With Atech For Brazilian Gripen NG Program

Saab AB chose Atech Negocios em Technologia S/A as a partner in the Brazilian Gripen Next Generation (NG or E/F) aircraft program to cover simulators, training systems, and ground support systems, Saab said Tuesday. Saab will work with Atechto undertake on-the-job training and workshare in the Gripen NG program. In May 2016 a team of […]

Raytheon AMRAAM air-to-air missile being fired from F-35 fighter in test in Oct. 2014. Raytheon said the missile program was one of its growth drivers in the first quarter. Photo: Air Force.

Raytheon’s First Quarter Earnings Slip While Sales Climb

Raytheon [RTN] on Thursday reported lower earnings in the first quarter due mainly to a one-time favorable settlement a year ago on an international program and because profits were down in all but one of the company’s operating segments. Net income in the quarter plunged 22 percent to $429 million, $1.43 earnings per share (EPS), […]

Boeing Chairman, President and CEO Dennis Muilenburg. Photo: Boeing

Boeing’s Income Dips On Tanker Charge But Delivery Schedule Holds

Boeing [BA] on Wednesday posted lower net income in its first quarter due to another charge on the Air Force tanker refueling aircraft program, and the company said the added development monies keep the program on schedule to deliver the first 18 aircraft by August 2017. Boeing has all four KC-46 flight-test tankers flying with […]

Artist's rendering of the Air Force's Long Range Strike Bomber, designated B-21. Photo: Air Force.

Tax Benefit Sends Northrop Grumman’s Earnings Higher In Opening Quarter

Northrop Grumman [NOC] on Wednesday reported strong first quarter earnings driven by an accounting change that led to a handsome tax benefit while sales were level with a year ago. Net income jumped 15 percent to $556 million, $3.03 earnings per share (EPS), from $484 million ($2.41 EPS) a year ago, cruising above consensus estimates […]

General Dynamics Chairman and CEO Phebe Novakovic. Photo: General Dynamics

Income, Sales Flat At General Dynamics In First Quarter

General Dynamics [GD] on Wednesday posted first quarter sales and earnings that were basically in line with results from a year ago although the bottom line beat analysts’ expectations. Net income was $717 million, $2.30 earnings per share (EPS), versus $716 million ($2.14 EPS) a year ago. Per share results were up 8 percent on […]

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Severance Charge, Operating Declines Lead Lockheed Martin’s First Quarter Earnings Down

Lockheed Martin [LMT] on Tuesday posted lower net income on due to severance charges and lower operating profits at several of its segments despite higher sales. Net income fell 10 percent to $794 million, $2.58 earnings per share (EPS), from $878 million ($2.74 EPS) a year ago, missing consensus estimates by a penny per share. […]

API Technologies makes electronics systems and equipment for aerospace, defense, wireless communications and other applications. Photo: API

J.F. Lehman Acquires Defense Electronics Company API Technologies

API Technologies Corp. on Friday said that the private equity firm J.F. Lehman & Company has completed the acquisition of the defense electronics provider, giving the company access to liquidity to pursue its growth plans. With the close of the acquisition, API asked to be delisted from the NASDAQ exchange where its stock traded under […]

Lower international deliveries of targeting systems contributed to a decline in second quarter sales at Rockwell Collins: Photo: Rockwell Collins

Rockwell Collins Posts Higher Earnings In Second Quarter

Rockwell Collins [COL] on Thursday reported higher net income in its second quarter driven by a lower tax rate, lower research and development expense and higher profit in its information management business while sales dipped slightly. Net income in the quarter climbed 9 percent to $171 million, $1.29 earnings per share (EPS), from $157 million […]

Morpho Detection's high-throughput CTX 9800 DSi EDS system screening checked bags at New York's LaGuardia Airport. Photo: Safran Group

Smiths Group Agrees To Acquire Morpho Detection From Safran

Britain’s Smiths Group on Thursday said it has agreed to acquire the California-based detection business of France’s Safran Group for $710 million, a deal that would give it a marquis position globally for automated checked baggage screening and consolidate a large portion of the international market for trace detection products. The deal is subject to […]