Archive: Business/Financial

National Security Cutter Hamilton at sea in the Gulf of Mexico during customer acceptance trials on Aug. 13. Photo: Coast Guard

Coast Guard Awards HII $500 Million For Final National Security Cutter

Huntington Ingalls Industries [HII] has received a $499.8 million contract from the Coast Guard to build the eighth and final National Security Cutter (NSC), which will be delivered in 2019. The contract price is in line with the $497 million the company received one year ago for the seventh NSC, which will be delivered in [...]

SAIC CEO Tony Moraco

SAIC Ends Fiscal Year With Solid Fourth Quarter

Science Applications International Corp. [SAIC] on Tuesday posted solid fourth quarter results with net income and sales both higher than a year ago even though the federal government is still taking longer to make awards. Net income increased 9 percent to $36 million, 75 cents earnings per share (EPS), from $33 million (66 cents EPS), [...]

Joseph Ensor, vice president and general manager of Northrop Grumman's Space ISR Systems Division. Photo: Northrop Grumman

Northrop Grumman Separates Airborne And Space ISR Business

Northrop Grumman [NOC] on Monday said it is splitting a division focused on intelligence, surveillance, reconnaissance (ISR) and targeting activities into two businesses focused on airborne and space ISR to improve focus in each area. The ISR and Targeting Systems Division (ISR&TSD) within Northrop Grumman’s Electronic Systems Sector is being broken into the Airborne Intelligence, [...]

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Raytheon Says To Collaborate With Estonia On Cyber Security

Raytheon [RTN] on Monday said it has agreed to a long-term collaboration with Estonia on cyber security, allowing it to explore new solutions for national security. “Raytheon has developed a very strong portfolio of national-scale cyber defense solutions that complement the investments and innovations made by Estonia in securing the cyber domain for its people,” [...]

BAE Systems plans new dry dock in San Diego. Photo: BAE Systems

BAE Continues San Diego Ship Repair Expansion To Accomodate Navy Pivot To Pacific

Britain’s BAE Systems on Friday evening said it will invest about $100 million over the next two years purchasing a new dry dock and other infrastructure improvements at its ship repair yard in San Diego, part of commitment the company made over two years ago to expand and enhance the shipyard as the Navy shifts [...]

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Kaman To Continue Providing Helo Parts For Bell Helicopter

Kaman Corp. [KAMN] Monday said its Aerosystems division would continue making helicopter components for Bell Helicopter Textron [TXT] under a five-year contract that could be worth more than $25 million. Kaman will manufacture skin and skin to core components for the Bell UH-1Y and AH-1Z helicopters at its Composite Structures facility in Bloomfield, Conn. “We [...]

U.K. Home Secretary Theresa May. Photo: U.K. Home Office

Raytheon Settles eBorders Dispute With U.K. For $223 Million

Raytheon [RTN] on Friday said it has amicably settled a five-year-old dispute with the United Kingdom Home Office related to the agency’s termination of a border security program the company had been delivering for Britain. The $223 million cash settlement in favor of Raytheon is less than the $392 million that a British arbitration ruled [...]

Accenture Federal Services Chief Executive David Moskovitz. Photo: Accenture

Accenture Completes Acquisition Of Digital Solutions Provider Agilex

Accenture [ACN] on Thursday said it has completed its acquisition of federal contractor Agilex Technologies, enhancing its capabilities in analytics, cloud and mobility solutions. Terms of the deal, which was announced in February, were not disclosed. Agilex is now part of Accenture’s Federal Services (AFS) division. “Digital technologies are fundamentally changing the way that government [...]

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Raytheon, Poland’s MESKO, To Collaborate, Share Advanced Defense Tech

Raytheon [RTN]Thursday said it signed its second Letter of Intent with MESKO, Poland’s leading missile and ammunition manufacturer. The areas of cooperation will focus on Raytheon’s solutions for the KRAB howitzer precision fires and new Polish Attack Helicopter, including offset proposals and opportunities for MESKO. “This is a tremendous step forward, allowing Raytheon to expand [...]

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Tax Benefit Helps Leidos Earnings Remain Level Despite Sales Drop; Krone Named Chairman

Leidos [LDOS] on Wednesday reported fourth quarter earnings that were the same as a year ago despite a decline in sales as a tax benefit strengthened the bottom line. Leidos also said that Roger Krone, who became the company’s CEO last fall, was designated chairman on March 20, succeeding John Jumper, who will remain on [...]