Archive: Business/Financial

ESD's machine shop. Photo: The Columbia Group

Shipbuilder HII Acquires Small Business That Makes Unmanned Undersea Craft

Huntington Ingalls Industries [HII], which makes large ships and submarines for the United States Navy and Coast Guard, on Friday said it has acquired a small business unit that designs and builds unmanned underwater vehicles (UUVs) and specialty craft to complement submarine work it does at its Newport News Shipbuilding division. Terms of the deal [...]

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

L-3 Posts Higher Fourth Quarter Earnings On R&D Tax Credit

L-3 Communications [LLL] on Thursday reported increased earnings in its fourth quarter due to the reinstatement of the federal research and development (R&D) tax credit for 2014 although its overall operating income was down slightly. Net income rose 10 percent to $203, $2.36 earnings per share (EPS), from $185 million ($2.04) a year ago, topping [...]

Northrop Grumman-built Global Hawk unmanned aerial vehicle (UAV). Sales of unmanned aircraft are expected to increase in 2015. Photo: Northrop Grumman.

Tax Credit, Pension Income Lift Northrop Grumman’s Earnings Amid Flat Sales In Quarter

Buoyed by the reinstatement of a federal tax credit and increased pension income, Northrop Grumman [NOC] on Thursday posted solid earnings in the fourth quarter while sales were essentially flat. Net income increased 6 percent to $506 million, $2.48 earnings per share (EPS), from $478 million ($2.12 EPS), due mainly to the $38 million (19 [...]

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Saab and IBD Deisenroth Engineering Sign Co-operation Agreement

Saab and IBD Deisenroth Engineering announced the signature of a co-operation agreement to develop advanced vehicle survivability for land, sea, and air applications, Saab said on Thursday. “The co-operation with IBD will give our companies a possibility to provide effective survivability solutions and it will give the possibility to provide new high tech solutions”, Görgen [...]

Raytheon scored a $2.4 billion order with Qatar in December for the Patriot air and missile defense system, boosting bookings. Photo: Raytheon

Raytheon Delivers Strong Fourth Quarter With Boost From Pension Income, Operations

Strong performance at the segment level coupled with a handsome pension tailwind drove solid fourth quarter financial results at Raytheon [RTN], the company reported on Thursday. Net income increased 10 percent to $582 million, $1.88 earnings per share (EPS), from $531 million ($1.66 EPS) a year ago. Excluding impacts from discontinued operations, earnings in the [...]

The Virginia-class attack submarine USS Mississippi (SSN 782) departs Joint Base Pearl Harbor-Hickam for routine operations. General Dynamics' sales in the quarter benefited from work on the Block IV version of the class. Photo: U.S. Navy

Shipbuilding, Business Jets Boost GD In Strong Fourth Quarter

General Dynamics [GD] on Wednesday posted strong fourth quarter financial results powered by its shipbuilding and business jet operations with solid contributions from its other businesses as well. Net income soared 42 percent to $701 million, $2.09 earnings per share (EPS), from $495 million ($1.41 EPS) a year ago. Excluding impacts from discontinued operations, which [...]

ATK President and CEO Mark DeYoung. Photo: ATK

Ahead Of Orbital Merger, ATK’s Aerospace And Defense Businesses Solid In Third Quarter

In its final earnings report before the merger of its aerospace and defense groups with Orbital Sciences Corp. [ORB] next month, ATK [ATK] on Wednesday posted mixed results with its commercial sporting business, which will be spun of into a separate company, weighing on earnings and sales while its government businesses were solid. Net income [...]

Boeing delivered 485 of its best selling 737 single aisle planes in 2014. Photo: Boeing

Commercial Plane Deliveries Lift Boeing To Record Sales, Strong Year-End

With demand continuing to fly high for its commercial aircraft, Boeing [BA] on Wednesday reported record sales in its fourth quarter and 2014 with more of the same projected in 2015. Sales in the quarter rose 3 percent to $24.5 billion from $23.4 billion a year ago, driven by record deliveries of commercial aircraft. Boeing [...]

The Virginia-class attack submarine USS Mississippi (SSN 782) departs Joint Base Pearl Harbor-Hickam for routine operations. General Dynamics' sales in the quarter benefited from work on the Block IV version of the class. Photo: U.S. Navy

Shipbuilding, Business Jets Boost GD In Strong Fourth Quarter

General Dynamics [GD] on Wednesday posted strong fourth quarter financial results powered by its shipbuilding and business jet operations with solid contributions from its other businesses as well. Net income soared 42 percent to $701 million, $2.09 earnings per share (EPS), from $495 million ($1.41 EPS) a year ago. Excluding impacts from discontinued operations, which [...]

Lockheed Martin Chairman, President and CEO Marillyn Hewson

Lockheed Martin Ends 2014 With Strong Financial Results

Driven by a solid showing at its aircraft making segment and a boost from pension income, Lockheed Martin [LMT] on Tuesday delivered strong fourth quarter financial results, although the outlook for 2015 is a bit subdued owing to the lingering effects of sequestration. Net income soared 85 percent to $904 million, $2.82 earnings per share [...]