Archive: Business/Financial

Medium-Range Radar system. Photo: Rheinmetall.

Rheinmetall Wins Canadian Contracts For Radar and Soldier Systems Worth Up To $381 Million

Canada awarded two contracts to Rheinmetall with a total base value of $108 million that could be worth as much as $381 million if all options are exercised, according to a company statement. Rheinmetall is contracted to provide both the Medium Range Radar (MRR) system and the Integrated Soldier System (ISS) to the Canadian Armed [...]

A US. Marine Corps V-22 lifting off a ship. Photo: U.S. Navy

Textron Profits Rise On Gains In Aviation Business, Lower Expenses

Textron [TXT] on Tuesday posted higher net income in its second quarter due to strong results in its airplane making segment and lower interest and corporate expenses although sales dipped on fewer plane and helicopter deliveries. Net income increased 16 percent to $167 million, 60 cents earnings per share (EPS), from $144 million (51 cents [...]

Photo: NASA.

OmniEarth Wins $1 Million California Water Resource Management Contract

The Santa Ana (Calif.) Watershed Project Authority (SAWPA) on Friday awarded a contract in excess of $1 million to analytics and imagery provider OmniEarth for water resource management, according to a company executive. Frank McKenna, head of OmniEarth’s satellite services division, told Defense Daily Monday the exact value of the contract is proprietary and subject [...]

Patriot Launcher
Photo: Raytheon.

Lockheed Martin Wins Patriot Contract Worth Nearly $1.6 Billion

Army Contracting Command on Thursday awarded Lockheed Martin [LMT] a contract modification worth nearly $1.6 billion for Patriot missiles, associated equipment and spares. The modification concerns contract W31P4Q-14-C-0034, delivering Patriot missiles and associated equipment to South Korea, Qatar, Taiwan, the United Arab Emirates, and Saudi Arabia. Work is set to be performed at facilities in [...]

Patriot Launcher
Photo: Raytheon.

Raytheon Posts Higher Sales, Earnings From Continuing Operations

Raytheon [RTN] on Thursday reported higher sales in the second quarter, due mainly to international business, while its earnings from continuing operations increased slightly due to a favorable tax settlement. The company also raised its sales guidance for 2015, calling for potentially flat to a slight increase in revenue versus 2014. If Raytheon hits the [...]

The Virtual Immersive Portable Environment (VIPE) Holodeck is an example of a Northrop Grumman modeling and simulation solution. Photo: Northrop Grumman.

Northrop Grumman Unveils ‘I3E’ Physics Simulator

Northrop Grumman [NOC] on Thursday unveiled its Immersive Interactive Information Environment (I3E) physics simulator that produces electronic warfare (EW) environment mission simulations that are both empirically-accurate and fully-rendered in game-quality visualization. One of the best features of I3E is the ability to pause the simulation and turn questions and ideas into visualization, according to Northrop [...]

Artist rendering of KC-46 refueling F-35 fighters. Boeing said a charge related to fixing the integrated fuel system on the KC-46 led to lower earnings in the second quarter. Rendering by Boeing

Tanker Charge Lowers Second Quarter Earnings At Boeing Despite Surge In Sales

Boeing [BA] on Wednesday reported lower net income in the second quarter, largely as a result of a charge disclosed last week for an Air Force aerial refueling program, but the results handily beat consensus estimates and the company’s sales were strong due to higher commercial aircraft deliveries. The $536 million after-tax charge for the [...]

UTC President and CEO Gregory Hayes. Photo: UTC

UTC Stumbles In Second Quarter, Lowers Guidance For 2015

Fresh off announcing a $9 billion sale of its Sikorsky Aircraft division, United Technologies Corp. [UTX] on Tuesday posted lower sales and earnings in its second quarter and the company lowered its guidance for the year due to softened expectations for its commercial aerospace and the people-moving division of its building systems business. Net income [...]

Lockheed Martin Chairman, President and CEO Marillyn Hewson

Lockheed Martin To Acquire Sikorsky, Divest Government IT And Technical Services Work

As expected, Lockheed Martin [LMT] on Monday said it has agreed to acquire the Sikorsky Aircraft business from United Technologies Corp. [UTX] for $9 billion, adding a helicopter design and manufacturing to its portfolio, but the company unexpectedly announced it is undertaking a strategic review of its government information technology (IT) and technical services businesses [...]

Hydra-70 Rocket. Photo: U.S. Army.

GD Wins $126 Million Contract For Hydra-70 Rocket Program

The U.S. Army Contracting Command awarded General Dynamics [GD] two contract modifications for production of the 2.75”/70mm Hydra-70 air-to-ground rocket system worth $126 million the company said Monday. The Hydra-70 production is for the U.S. military and Foreign Military Sales (FMS) customers. The contract modifications relate to a contract first awarded December 2014. “Our Hydra-70 [...]