Archive: Business/Financial

Pan/Tilt series camera system from FLIR's Commercial Systems division. Photo: FLIR

FLIR Says Court Rules Favorably In Litigation Matter With Raytheon

FLIR Systems [FLIR] on Monday evening said a federal court in Texas ruled favorably toward the company in a lawsuit filed by Raytheon [RTN] related to the misappropriation of trade secrets by a company that FLIR acquired in 2004. FLIR said that the jury in the United States District Court for the Eastern District of [...]

Centerra Group President and CEO Paul Donahue. Photo: Centerra Group

Private Equity Firm To Acquire U.S. Division Of G4S

G4S Government Solutions, the United States-based operations of Britain’s global security services provider G4S plc, on Tuesday said it has entered a definitive agreement to be acquired by an undisclosed U.S.  private equity firm for $135 million and will be renamed Centerra Group, LLC. Centerra will continue to be based in Palm Beach Gardens, Fla., [...]

New UTC President and CEO Gregory Hayes. Photo: UTC

UTC CEO Cheneverty Abruptly Retires, CFO Hayes Takes Over

United Technologies [UTX] on Monday announced the retirement of Chairman and CEO Louis Chenevert, effectively immediately, and said that Gregory Hayes, the company’s chief financial officer, has been elected as its president and CEO. UTC made no mention of why Chenevert, 57, retired after 22 years with the company. He became president of UTC and [...]

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 [...]