Archive: Business/Financial

Pentagon_anddowntown_

Kendall Memo Addresses Some Barriers to Competition; Industry Says More Work to be Done

Defense acquisition chief Frank Kendall announced five new measures to boost competition in defense contracting, though industry representatives said it is a tough problem that will take additional measures to fix. The Aug. 21 memo, posted online by the National Defense Industrial Association, notes that “when we create and maintain a competitive environment, we are [...]

SAIC Sector President Doug Wagoner. Photo: SAIC

SAIC Introduces Enterprise Cyber Security Solution

Science Applications International Corp. [SAIC] on Tuesday introduced CyberSecurity Edge, a combination of software tools and subject matter experts, to provide customers with a holistic solution to their cyber security needs. “This solution provides maximum data security readiness and responds to advanced persistent cyber threats, multiple platforms, and unstructured data,” Doug Wagoner,” sector president at [...]

UTC Chairman and CEO Louis Chenevert. Photo: UTC

UTC Boosts Share Repurchase Plans, Reaffirms 2014 Guidance

United Technologies Corp. [UTX] on Wednesday reaffirmed its earnings guidance for 2014 and said it plans to increase the amount of money devoted to its stock buybacks this year. The company is adding $100 million to its level of share repurchases, bringing planned expenditures to $1.35 billion. In July, UTC boosted its expected level of [...]

As part of its turnkey screening services model, Rapiscan uses its cargo and vehicle inspection systems for screening at ports and borders. Photo: OSI Systems

Albania Pulling Out Of Turnkey Screening Services Project With Rapiscan, Firm Says

The election of a new government in Albania has led to the halt of Rapiscan’s 15-year turnkey screening services contract announced last year and the project is in doubt moving forward, Deepak Chopra, president and CEO of OSI Systems [OSIS], told investors. The program in Albania was ahead of schedule and going smoothly, but the [...]

AGI's Helicopter Visual Approach System is used on carrier and non-carrier vessels. Photo: AGI

J.F. Lehman Acquires Small Aerospace And Defense Companies

The private equity firm J.F. Lehman & Company on Tuesday said it has acquired the United Kingdom-based holding company Aeronautical & GI Holdings Ltd (AGI), which owns subsidiaries in Britain and the United States that serve the aerospace and defense industries in the areas of instrumentation, night vision testing and lighting. Terms of the deal [...]

Lockheed Martin continues to expand its capabilities in Energy-related technology with the Sun Catalytix acquisition. For the technology in the above photo, Lockheed Martin is teamed with Atlantis Resources and Irving Shipbuilding to build, deploy and test tidal turbines in Canada's Bay of Fundy. Photo: Atlantis Resources

Lockheed Martin Acquires Small Energy-Related Firm

Lockheed Martin [LMT] on Monday said it has acquired the assets of Sun Catalytix, a small company developing energy-related technologies and applications, bolstering its capabilities in the area of energy management. Terms of the deal were not disclosed, although Lockheed Martin said it was immaterial. Sun Catalytix, which has 25 employees and is based in [...]

CACI President and CEO Ken Asbury

Earnings, Sales Slip At CACI In Fourth Quarter

CACI International [CACI] on Wednesday posted lower net income in its fourth quarter due to higher interest expense while sales slipped on fewer purchases related to the war in Afghanistan, lower run rates on professional services contracts, and delays in contract awards. Net income fell nearly 4 percent to $36.5 million, $1.49 earnings per share [...]

Ranger Aerospace President CEO Steve Townes

Private Equity Firms Partner On Aerospace Investments

Ranger Aerospace LLC said on Monday that it has partnered with Azalea Capital to form a new holding company, Ranger AeroSystems, Inc., to jointly pursue investments and acquisitions in the aerospace industry . The private equity partnership is focused on several lower middle market aerospace segments including precision manufacturing, component overhaul, and specialty maintenance, repair [...]

spacewheel_honeywell_2

‘High-Growth Nations’ Key To International Uptick In Honeywell’s Defense Business

“High-growth nations” found in the Middle East and southeast Asia are playing a key role in the international growth of Honeywell’s [HON] defense and space business, according to a company executive. Mike Madsen, president of Honeywell’s defense and space business, said his sector has increased its presence internationally by about 1-2 percent of revenue per [...]

Zeta Associates headquarters in Fairfax, Va. Photo: Zeta Associates

Lockheed Martin Completes Acquisition Of Zeta Associates

Lockheed Martin [LMT] on Monday said it has completed the acquisition of Zeta Associates, adding to its capabilities in C4ISR. Terms of the deal, which was first announced in June, were not disclosed. Lockheed Martin said that the transaction would be immaterial to its financial results. Zeta has expertise in software development for communications signals [...]