Archive: Business/Financial

Northrop Grumman Chairman, President and CEO Wes Bush. Photo: Northrop Grumman

Northrop Grumman Opens Year With Strong Earnings

Benefiting from a favorable tax settlement, pension income, improved operating performance and the repurchase of its stock, Northrop Grumman [NOC] on Wednesday reported a strong financial start to 2014 with a hefty rise in earnings despite a fall in sales. Net income increased 18 percent to $579 million, $2.63 earnings per share (EPS), versus $489 [...]

Boeing Chairman and CEO Jim McNerney. Photo: Boeing

Retirement Plan Charges Dent Boeing’s Earnings But Core Results Strong

Boeing [BA] on Wednesday reported a double-digit decline in its first quarter net income stemming from previously announced charges related to changes in its retirement plan and higher tax expenses but the company’s core results, which exclude certain retirement expenses, were strong. Excluding the retirement expenses, Boeing’s core operating earnings increased 12 percent to $2.1 [...]

GD Chairman and CEO Phebe Novakovic. Photo: GD

Aerospace Business Powers GD To Solid First Quarter

Led by its Aerospace segment, General Dynamics [GD] on Wednesday posted a solid first quarter financial results with a modest increase in net income despite a slight decline in sales. Net income increased 4 percent to $595 million, $1.71 earnings per share (EPS), from $571 million ($1.62 EPS), topping analysts’ expectations by seven cents. Earnings [...]

TALON Robot
Photo: QinetiQ

SI Deal For Most Of QNA Will More Than Double Company’s Size

The SI Organization, a former business unit of defense contractor Lockheed Martin [LMT], said on Tuesday it has agreed to acquire the engineering services business of QinetiQ North America (QNA) in a deal that will more than double the size of the company and significantly expands its customer base, providing it with substantially more business [...]

The F-35 Joint Strike Fighter. Photo by Lockheed Martin.

Pension Tailwind, Strong Operating Performance Lift Lockheed Martin’s First Quarter Earnings

Despite a decline in sales, Lockheed Martin [LMT] on Tuesday posted stronger than expected first quarter earnings due to a swing to pension income and higher operating profits at most of its business segments. The higher operating profits combined with an ongoing share repurchase program led the company to raise its earnings guidance for the [...]

Robichaux' 21,000 sq. ft. manufacturing facility near New Orleans. Photo: Robichaux

Marine Company USJ-IMECO Acquires Robichaux Automation

The private equity firm J.F. Lehman & Company on Monday said its portfolio company USJ-IMECO has acquired Robichaux Automation and Control Inc. (RAACI), which provides commotion systems for commercial and government ships. Louisiana-based RAACI provides proprietary ship control, alarm, monitoring, propulsion, switchboard and power management system as well as other marine technologies. “The addition of [...]

Parsons designed and built Army Chemical Agent Disposal Facility in Newport, Ind. Photo: Parsons

Parsons Acquires Cyber, Electronic Security Firm Secure Mission Solutions

Expanding its national security and defense work, engineering, construction and professional services company Parsons Corp. last Friday said it has acquired Secure Mission Solutions (SMS), which provides cyber and electronic security solutions to federal customers. Terms of the deal were not disclosed. Northern Virginia-based SMS had $106 million in sales last year and has over [...]

SEACON provides submarine cable system to ROV/AUV industries. Photo: SEACON

TE Connectivity To Acquire Undersea Tech Company SEACON Group

Electronic connecting company TE Connectivity [TEL] on Thursday said it has agreed to acquire SEACON Group for $490 million in cash, expanding its capabilities in solutions for harsh environments and strengthening its position in the oil and gas industry. SEACON Group, which is based in California, serves the military marine and subsea sectors for remotely [...]

mcfarland

OSD to Examine How to Share Early Requirements Without Creating Misunderstandings

The Defense Department hopes to share its early requirements with industry more often as long as it can find a way to do so without creating misunderstandings, Assistant Secretary of Defense for Acquisition Katrina McFarland said at the National Defense Industrial Association’s National Logistics Forum on April 16. McFarland noted that government is better positioned [...]

Amazonas 4A satellite in Orbital's manufacturing facilities ahead of last months launch. Photo: Orbital Sciences

Income, Sales Fall At Orbital Sciences In First Quarter

A problem with a communications satellite built for Spain’s HISPASAT S.A. and inserted into orbit last month led Orbital Sciences Corp. [ORB] on Thursday to report lower net income and sales in its first quarter, although the company largely left intact its guidance for the year. Orbital said it discovered an anomaly on the Amazonas [...]