Archive: Business/Financial

Photo: Sikorsky

UTC Posts Higher Profits As Sales Dip On Foreign Currency Impacts

United Technologies Corp. [UTX] on Tuesday posted strong earnings in its first quarter on operating profit gains at its building controls, climate and security segment and its businesses that make jet engines for aircraft, and helicopters. The company’s sales dipped one percent to $14.5 billion from $14.7 billion a year ago due to the impacts [...]

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

Sales, Earnings Slip At Lockheed Martin In First Quarter

Lockheed Martin [LMT] on Tuesday posted lower sales and earnings in its first quarter driven by a number of programs, but the company increased its earnings guidance for the year due to a combination of better expectations for business segment profit and higher share repurchase activity. Net income dipped 6 percent to $878 million, $2.74 [...]

The USS New York (LPD 21), an amphibious transport dock ship, was built at Avondale.

Avondale Shipyard’s Fate Remains Unclear

Huntington Ingalls Industries [HII] announced April 20 that it has decided against forming a joint venture with energy infrastructure company Kinder Morgan Inc. [KMI] to redevelop HII’s Avondale naval shipyard in Louisiana. HII and Kinder Morgan had explored the possibility of converting the Mississippi River site to a marine terminal to store, load, offload and [...]

Angie Heise, newly named VP of commercial markets for the IS&GS business area. Photo: Lockheed Martin.

Lockheed Names New VP for IS&GS Markets

Lockheed Martin has named Angie Heise as vice president of commercial markets for its Information Systems & Global Solutions (IS&GS) business area, the company said on Monday. Heise is replacing Chandra McMahon, who is pursuing other opportunities, it added. The IS&GS area includes the company’s cybersecurity efforts. The portfolio specializes in helping commercial critical infrastructure [...]

Raytheon infographic related to Websense deal.

With Websense Deal, Raytheon Has No Qualms With Big Jump Into Commercial Cyber Market

Raytheon [RTN] on Monday said it will be forming a new business segment focused on the commercial cyber security market through its $1.9 billion pending acquisition of a majority share in information security provider Websense, a portfolio company of the private equity firm Vista Equity Partners. The new business segment that will be built around [...]

SRA President And CEO Bill Ballhaus said the acquisition of Qbase's goverment services business "is a natural fit for SRA." Photo: SRA International

SRA Acquires Government Services Business Of Qbase

SRA International on Friday said it has completed its acquisition of most of the Government Services business of software products and services contractor Qbase, LLC. SRA said the deal strengthens its presence in the health information technology, homeland security and law enforcement markets. Northern Virginia-based Qbase’s government services business supports customers in the intelligence, national [...]

Lockheed Martin, LM Wisdom

Lockheed Martin Turning Predictive Analytics Tools To Supply Chain, Counterfeit Risks

A predictive analytics and big data tool that Lockheed Martin [LMT] has been developing and using for the past six years with a focus on intelligence and security is being turned toward additional uses such as supply chain risk management and identifying potential counterfeit parts suppliers, according to company officials. Lockheed Martin has been applying [...]

Sparton President and  CEO Cary Wood. Photo: Sparton Corp.

Sparton Acquires Hunter Technology In $55 Million Deal

Sparton Corp. [SPA] on Tuesday said it has acquired California-based Hunter Technology Corp. for $55 million in cash, expanding its footprint into the Northern California corridor and growing its military and aerospace business. Illinois-based Sparton said the acquisition will add $80.5 million in annual sales. Sparton provides complex and sophisticated electromechanical devices and has capabilities in [...]

General Dynamics Fidelis Cybersecurity Solutions President Peter George. Photo: General Dynamics

GD Selling Fidelis Cybersecurity Unit To Private Equity Firm

A private equity firm, Marlin Equity Partners, on Tuesday said has agreed to acquire a commercially-focused cyber security business unit from General Dynamics [GD] that the defense contractor is shedding to focus on its core government customers. Terms of the deal, which is expected to close in the second quarter of 2015, were not disclosed. [...]

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Lockheed Martin Transitions To Apps-based Ground Station Frameworks

Lockheed Martin [LMT] is moving to integrate customized applications (apps) into its ground station solutions to provide more efficiency between operators and missions, the company said on Tuesday. Satellite operators have tasks such as programming a satellite to orbit in a desired path, receiving continuous streams of data from space, and monitoring data from ground [...]