Archive: Business/Financial

ICGS Announces Progress On Second Security Cutter

Northrop Grumman [NOC] has successfully lifted the 25-ton mast onto the second Coast Guard National Security Cutter (NSC), putting the ship at 42 percent complete in the production process at the company’s shipyard in Pascagoula, Miss., Integrated Coast Guard Systems (ICGS) said Wednesday. The second NSC, called the U.S. Coast Guard Cutter Waesche (WMSL 751), […]

Elbit’s M&A Activities Bear Fruit, Contribute To Record Financial Results

TEL AVIV, Israel– Elbit Systems [ESLT] on recently reported its consolidated results for the third quarter ending Sept. 30 with the company’s president and CEO saying recent acquisitions helped generate record revenues, backlog and cash flow. "We are pleased to report another strong quarter of growth, which was based on organic revenue growth of 19 […]

U.S. Growth Drives QinetiQ’s First Half Results

Britain’s QinetiQ yesterday posted strong first-half results led by the company’s QinetiQ North America (QNA) division, which saw its revenues soar due to acquisitions and strong organic growth. Sales increased 19 percent to $1.3 billion for the six months ending Sept. 30 from $1.1 billion in the same period a year ago, with organic growth […]

Raytheon Wins $1.3 Billion U.K. e-Borders Contract

Raytheon [RTN] recently was selected by the United Kingdom’s Home Office to receive a $1.3 billion contract to develop and install a border security system that will allow British authorities to check the background of persons entering and exiting the country against various watch lists. Raytheon beat British Telecom for the e-Borders contract. In two […]

DARPA, Northrop Grumman Move Into Next Phase of UAV Control Architecture

By Michael Sirak The Pentagon’s advanced research shop and industry partner Northrop Grumman [NOC] are moving into the next phase of a program that will allow Army personnel to coordinate the tactical operations of unmanned sensor aircraft more efficiently and enable soldiers at lower echelons in areas like urban terrain to call up and receive […]

ManTech To Acquire IT Solutions Provider McDonald Bradley

ManTech International [MANT] recently said it has agreed to acquire McDonald Bradley, Inc. (MBI), an information technology (IT) solutions provider to the federal government, for $76.5 million in cash, giving it access to new customers and markets. MBI, which is based in Northern Virginia, expects to have over $50 million in sales this year. The […]

Textron Closes In On United Industrial Acquisition

Textron [TXT] said recently it has acquired 85 percent of the stock of United Industrial Corp. [UIC] as it nears the end of its $1.1 billion acquisition of the defense company. However, Textron said that about 1.6 million shares of UIC’s common stock that had been tendered through notices of guaranteed delivery were not delivered […]

Cross Match Drops Price of Planned IPO

Cross Match Technologies recently said it has lowered the expected price range of its forthcoming initial public offering (IPO), suggesting that net proceeds from the sale of stock could be about $23 million less than planned when the company refiled to go public last month. Under the amended filing with the Securities and Exchange Commission […]

Northrop Grumman, Raytheon Win Work On Next-Gen GPS Control Segment

The Air Force recently chose Northrop Grumman [NOC] and Raytheon [RTN] to conduct concurrent developmental work on a next- generation ground control segment for Global Positioning System (GPS) navigation satellites. Each company won phase A contracts worth about $160 million to reduce the risk in the design of the GPS Operational Control Segment (OCX) over […]

Microsoft Enters Simulation And Training Field, Announces Aerospace/Defense Partners

By Ann Roosevelt Microsoft [MSFT] is entering the growing simulation and training world with the announcement of strategic defense and aerospace industry partners that will work together developing new solutions for the military and commercial aviation industry. The partners include Northrop Grumman [NOC], SAIC [SAI], Lockheed Martin [LMT], CAE [CGT], Adacel and Acron Capability Engineering. […]