Archive: Business/Financial

General Dynamics Chairman and CEO Phebe Novakovic. Photo: General Dynamics

Lower Taxes Fuel Higher Earnings At General Dynamics In First Quarter

Federal tax cuts enacted into law this year propelled General Dynamics [GD] to higher net income in the first quarter despite a dip in operating earnings, the company reported on Wednesday. Net income rose 5 percent to $799 million, $2.65 earnings per share (EPS), from $763 million ($2.48 EPS) a year ago, topping consensus estimates […]

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TransDigm Completes $525 Million Acquisition Of Extant Aerospace

TransDigm Group Inc. [TDG] has completed its $525 million cash acquisition of Extant Components Group, strengthening its position in the aftermarket for both military and commercial aerospace products. Extant gets 80 percent of its sales from the aftermarket, with the military end market accounting for the majority of revenue. Extant expects to generate about $85 […]

Lockheed Martin Chairman, President and CEO Marillyn Hewson

Lockheed Martin Opens 2018 With Strong Financial Results

Lockheed Martin [LMT] on Tuesday posted strong financial results in its first quarter buoyed by operating performance, a lower tax rate and a pension tailwind, and the company raised the outlook for its top and bottom lines in 2018. Net income soared 47 percent to $1.2 billion, $4.02 earnings per share (EPS), from $789 million […]

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BAE, Dell Partner For New Federal Cloud Solution

BAE Systems and Dell [DVMT] EMC have partnered to offer the first scalable, hybrid cloud solution aimed at U.S. federal government customers. The companies’ new “federated secure cloud” solution meets Defense Federal Acquisition Regulation Supplement requirements and looks to take advantage of increasing agency-level IT modernization. “Our federated secure cloud is not just a modified […]

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Raytheon, Cyber Security Firm Partner For Government, Critical Infrastructure Markets

Raytheon [RTN] and the cyber security firm Virsec have formed an alliance to provide cyber security solutions to government and critical infrastructure markets. Raytheon on Monday said the partnership combines California-based Virsec’s Trusted Execution security platform with Raytheon’s expertise in defending cyber networks. “Critical infrastructure, from the electrical grid to transportation, is under assault, and […]

Peraton CEO Stu Shea. Photo: Peraton

Peraton Acquires Small Communications Firm Strategic Resources International

Peraton on Monday said it has acquired Strategic Resources International (SRI) in a deal that complements its communications capabilities. The deal is the first for Peraton, which is the former information technology business of Harris Corp. [HRS] that sold to Veritas Capital last year. Terms of the deal were not disclosed. SRI, which is based […]

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Boeing Venture Arm Invests In 3D Printing Startup Morf3D

Boeing [BA] on Monday said its venture arm HorizonX has invested in the additive engineering and manufacturing firm Morf3D, which makes components for aerospace applications. The investment in Morf3D is the first by Boeing HorizonX in a 3D printing company. Boeing said that Morf3D, which was founded in 2015, has provided the company with 3D-printed […]

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White House Releases New Policy For Expanding International Weapons, UAS Sales

The White House is looking to open up the defense industrial base to more global deals with a new set of arms transfer policies focused on allowing direct sales between U.S. companies and foreign governments and less regulations on the export of unmanned aerial systems (UAS). The Trump administration announced new reforms Thursday to the […]

Cubic President and CEO Bradley Feldmann. Photo: Cubic Corp.

Valiant Integrated Services Acquiring Cubic’s Defense Services Business

Cubic Corp. [CUB] on Thursday said it is selling its defense services business to a pure play federal services company, Valiant Integrated Services, for $135 million in cash, allowing it to sharpen its focus on its core transportation and defense businesses. The deal is expected to close within 45 days and includes $3 million in […]