Archive: Business/Financial

ATK President and CEO Mark DeYoung. Photo: ATK

ATK Sees Little Risk To Orbital’s Recovery Plan And Finances

ATK [ATK] President and CEO Mark DeYoung on Wednesday said his company and its board of directors believe that Orbital Sciences [ORB] has a sound recovery plan for NASA’s cargo resupply missions to the International Space Station following a launch vehicle failure in October and that the financial risks to Orbital going forward are minimal. [...]

iStock Cyber Lock

Northrop Grumman Establishes Cyber Technology Center Of Excellence

Northrop Grumman [NOC] on Wednesday launched a new center of excellence aimed at bringing together the corporation’s cyber capabilities to better able to meet its customers’ needs. The company said the Advanced Cyber Technology Center (ACTC) will link its relevant personnel and partners throughout the enterprise to quickly develop high-end solutions to the “toughest cyber [...]

Textron president and CEO Ellen Lord

CEO: Pentagon Should Help Industry Operate More Commercially

The defense industry is becoming more commercial and more globalized, and both defense contractors and the Pentagon need to use the ongoing acquisition reform efforts as an opportunity to adjust to these new realities, according to Textron’s [TXT] CEO. To adjust to declining budgets, defense contractors need to be more agile and more innovative, Textron [...]

ATK President and CEO Mark DeYoung. Photo: ATK

ATK, Still In Favor Of Orbital Deal, Will Update Investors On Wednesday

ATK [ATK] and Orbital Sciences [ORB] on Tuesday evening said they still support a merger of the two companies despite a spectacular failure of a rocket built by Orbital as it was launching. Following a review of the Antares launch failure and Orbital’s business prospects, “We believe it was responsible and essential to conduct this [...]

Implant Sciences' QS-B220 ETD. Photo: Implant Sciences

TSA Awards Implant Sciences Potential $162 Million For ETDs

Implant Sciences Corp. [IMSC] has received a potential $162 million indefinite delivery, indefinite quantity contract from the Transportation Security Administration to provide the agency with desktop explosive trace detectors for baggage and passenger screening. The award is the largest in the company’s history and is its first with TSA to provide the agency with the [...]

The Air Force's F-16D fighter jet. Photo: Lockheed Martin.

Exelis, Aribus Teaming On F-16 Missile Warning Detection

Exelis [XLS] and Airbus Group have signed a teaming arrangement to supply advanced missile system warning capabilities for U.S. and international F-16 fighter jets, Exelis said Monday. The arrangement is meant to provide lightweight protection against short-range air defense missiles and man-portable missile systems (MANPADS). Under the agreement, Exelis will be the lead U.S. contractor [...]

USS George Washington (CVN 73). Photo: U.S. Navy.

Pension Swing, LPD Improvement Boost Income At Huntington Ingalls

Huntington Ingalls Industries [HII] on Thursday reported higher earnings and sales driven by a favorable pension adjustment, better performance on its LPD amphibious ship programs, lower risk on attack submarine programs and the contribution from acquisitions. Net income increased 20 percent to $96 million, $1.96 earnings per share (EPS), from $69 million ($1.36 EPS) a [...]

Lynn Dugle, president of Raytheon's Intelligence, Information and Services segment. Photo: Raytheon

Raytheon Acquires Blackbird Technologies, Bolsters Presence With SOCOM

Raytheon [RTN] on Wednesday said it has acquired privately held Blackbird Technologies for $420 million, expanding its presence with the Special Operations community and expanding its capabilities in persistent surveillance, secure tactical communications and cyber security. Raytheon did not say what Blackbird’s annual sales are, although it said the acquisition would be immaterial to its [...]

Huntington Ingalls President and CEO Mike Petters. Photo: HII

Huntington Ingalls Doubles Dividend, Stock Repurchase Authority

Confident in its business prospects, Huntington Ingalls Industries [HII] on Thursday said its board of directors has approved a 100 percent increase in the quarterly dividend while also doubling the current stock repurchase program. The new quarterly dividend, which will be payable on Dec. 12, is 40 cents per share while the stock repurchase authority [...]

Lockheed Martin Chairman, President and CEO Marillyn Hewson

Lockheed Martin To Acquire Federal Health IT Company Systems Made Simple

Lockheed Martin [LMT] on Thursday said it has agreed to acquire Systems Made Simple, a provider of health information technology (IT) and analytics solutions to the federal government, boosting its capabilities in the health IT space. Terms of the deal, which is expected to close within 30 days, were not disclosed, although Lockheed Martin said [...]